Healthcare

Joint Venture to Develop 89,500 SF Hospital in Derby, Kansas

by Kristin Harlow September 28, 2017

DERBY, KAN. — MedProperties Holdings LLC, CarrBaierCrandall Real Estate Group (CBC) and Candor Healthcare LLC have formed a joint venture to develop Rock Regional Hospital in Derby, a southern suburb of Wichita. The 31-bed, 89,500-square-foot facility will be located near Rock Road and Patriot Avenue on a 15-acre parcel. The site includes two additional land parcels for future healthcare facilities, such as a medical office building and a freestanding inpatient rehabilitation hospital. Other development team partners include architect ACI Boland, general contractor McCownGordon Construction and engineer Renaissance Infrastructure Consulting. The project is slated for completion in late 2018.

September 28, 2017

Healthcare Illinois Midwest

Missner Group Completes Two Facility Renovations for Illinois Bone & Joint Institute in Chicago

by Kristin Harlow September 22, 2017

CHICAGO AND LAKE BLUFF, ILL. — The Missner Group has completed renovations for the Illinois Bone & Joint Institute (IBJI) in Chicago and Lake Bluff, Ill. At 111 N. Canal St. in Chicago, renovations included the addition of a 2,900-square-foot physical therapy space, private consultation suite and a new reception and waiting lounge. At 101 Waukegan Road in Lake Bluff, a 6,000-square-foot renovation featured the build-out of both physical therapy and clinic space. The facility now consists of a renovated reception area, private examination rooms and 2,800 square feet of space for physical therapy. Heath Yarger and Steve Bulger of Missner Group led the project team. Stephen Rankin & Associates provided architectural services. With more than 20 locations, IBJI specializes in the diagnosis, treatment and management of injuries and diseases of the musculoskeletal system.

September 22, 2017

Healthcare Texas

MedProperties Holdings Acquires Harrison Street’s Healthcare Portfolio for $230M

by Taylor Williams September 21, 2017

DALLAS — Dallas-based MedProperties Holdings has acquired a portfolio of 17 healthcare properties totaling 620,750 square feet from Chicago-based private equity firm Harrison Street for approximately $230 million. Seven properties are located in Texas: Abilene Surgery Center and Hospital in Abilene; Texas Rehabilitation Hospital of Arlington in Arlington; Grand Parkway MOB in Richmond; Williams Way MOB in Richmond; Conroe Medical Plaza in Conroe; Kingwood Medical Plaza in Kingwood; and Lake Granbury Medical Center in Granbury. None of the five assets in the Houston area were significantly affected by Hurricane Harvey. The other properties in the sold portfolio are located in Florida, South Carolina, North Carolina, New York, Ohio, Pennsylvania, Wisconsin, Missouri and Kentucky. Chris Bodnar and Lee Asher of CBRE represented Harrison Street in the sale. Erik Tellefson and Jon Buehner of Capital One originated senior debt financing for the transaction. David Selznick and Andrew Smith of Kayne Anderson originated mezzanine debt for the acquisition. MedProperties Holdings’ portfolio of healthcare assets now totals roughly 3.4 million square feet across 20 states.

September 21, 2017

Connecticut Healthcare Northeast Office

Inland Real Estate Facilitates Acquisition of Two Medical Office Buildings in Connecticut

by Amy Works September 20, 2017

NEW BRITAIN, CONN. — Inland Real Estate Acquisitions has arranged the sale of two medical office buildings located in New Britain for an undisclosed price. Mark Cosenza and David Neboyskey of Inland Real Estate represented the buyer, an Inland affiliate, in the deal. The properties are a two-story building located at 300 Kensington Ave. and a 62,000-square-foot building at 1 Lake St. Starling Physicians P.C. occupies both properties.

September 20, 2017

Conference Coverage Features Healthcare Top Stories

Stability, Yield Drive Healthcare Real Estate Investment Activity, Say InterFace Panelists

by Camren Skelton September 19, 2017

DALLAS — Investor demand for healthcare properties throughout the country is soaring, driven by the recession-resistant nature of the asset class and its ability to consistently generate strong returns. Confidence in the property type also stems from the prevailing realization that legislation opposing the Affordable Care Act (ACA) has thus far been unsuccessful. After multiple failed attempts to repeal and revise the law, the Republican Party introduced a bill today that aims to cut overall funding for healthcare and give states more control over their individual healthcare budgets. Other demand drivers for the healthcare sector include a growing number of aging Americans, the tendency of healthcare tenants to sign long-term leases and an expectation that government spending on healthcare, as a percentage of gross domestic product (GDP), is set to rise above its current level of 15 percent. It all adds up to a remarkably healthy flow of capital into the healthcare sector from institutional, private and foreign investors alike. Five healthcare real estate panelists at last week’s InterFace Healthcare Real Estate conference discussed a variety of topics within the healthcare investment market, including the profiles of the investors, the pressures they face to deploy their capital in a timely …

September 19, 2017

Healthcare Texas

McCarthy to Build Expansion Project for Hospital in Tyler

by John Nelson September 14, 2017

TYLER, TEXAS — McCarthy Building Cos. Inc. will build an expansion project for CHRISTUS Mother Frances Hospital, located at 800 E. Dawson St. in Tyler. The project will deliver two new trauma rooms, 48 ICU beds, an emergency room with 54 treatment beds and two helipads. It will also replace the existing parking garage with a 297,000-square-foot structure, construction of which began earlier this year and is expected to be complete by March 2018.

September 14, 2017

Connecticut Healthcare Northeast Office

Marcus Partners Sells 71,401 SF Medical Office Building in Norwalk, Connecticut, for $23M

by Amy Works September 12, 2017

NORWALK, CONN. — Marcus Partners has completed the disposition of Cross Street Medical Center, located at 40 Cross St. in Norwalk. Anchor Health Properties acquired the property for $23 million. Norwalk Surgery Center/Norwalk Hospital, St. Vincent’s MultiSpecialty Group, WestMed (formerly Norwalk Medical Group) and the Center for Advanced Pediatrics anchor the 71,401-square-foot building. Frank Nelson, Michael Greeley and Danielle DeMarco of Newmark Knight Frank represented the seller in the deal.

September 12, 2017

Healthcare New Jersey Northeast Office

Atkins Cos., Capital Solutions Acquires 46,400 SF Building for Medical Office Use in Medford, New Jersey

by Amy Works September 8, 2017

MEDFORD, N.J. — Atkins Cos., in conjunction with Capital Solutions, has acquired Medford Medical Center, a medical office building located at 103 Old Marlton Pike in Medford. A condominium association sold the 46,400-square-foot property for $2.4 million. Prior to the sale, the facility was comprised of 20 condominium units owned by individual medical groups. As part of the transaction, the individual units converted back into a single ownership entity and the condominium association was dissolved. The buyer plans to renovate the exterior and interior of the property to create a new state-of-the-art medical facility. Larchmont Imaging and South Jersey Eye Physicians anchor the property. Evan Zweben of Colliers International was the sole broker in the transaction.

September 8, 2017

Healthcare Midwest Minnesota

Minnesota Autism Center to Expand Campus by 20,000 SF in Eagan

by Kristin Harlow September 8, 2017

EAGAN, MINN. — Minnesota Autism Center (MAC) has unveiled plans to expand its campus in Eagan by adding a new, 20,000-square-foot building. Peter Fitzgerald of Cushman & Wakefield represented the nonprofit organization in its purchase of nearly four acres adjacent to the current campus. Minneapolis-based Ryan Cos. US Inc. will construct the new building, and RSP Architects (RSP) will serve as architect. Cushman & Wakefield, Ryan Cos., RSP and several subcontractors have contributed various donations to support the newest development within MAC’s therapy campus, which will now include three buildings offering a variety of specialized autism services. Ryan Cos. broke ground on the new building in June, with completion slated for the end of the year. The original, 38,000-square-foot MAC opened in 2007.

September 8, 2017

Healthcare Texas

Perardi Development to Build 42,000 SF Medical Office Asset in Metro Austin

by Taylor Williams September 7, 2017

BEE CAVE, TEXAS — Perardi Development will build Medical Towers at Bee Cave II, a 42,000-square-foot medical office property located at the corner of RM 620 and State Highway 71 in the Austin metro of Bee Cave. Scheduled to break ground later this month, the project follows the completion and pre-leasing of the 23,000-square-foot Medical Towers at Bee Cave. This second phase of the project could be completed as early as mid-December 2018.

September 7, 2017

Newer Posts

Older Posts