Healthcare

Houlihan Parnes Secures $2.3M Loan for Medical Office Building in White Plains, N.Y.

by Haisten Willis April 19, 2017

WHITE PLAINS, N.Y. — Jeremiah Houlihan and James Coleman of Houlihan Parnes Realtors have secured a $2.3 million first mortgage loan for a medical office building located at 280 Mamaroneck Ave. in downtown White Plains. The three-story building contains a retail store, medical tenants, a self-service elevator and on-site parking for 60 cars. The 10-year loan features a 30-year amortization schedule and was placed with a savings bank. The lender charged no commitment fee and the loan includes sliding scale prepayment penalties.

April 19, 2017

Healthcare Illinois Midwest

Stage Acquires Outpatient Surgical Center in Bloomington, Illinois for $14.5M

by Kristin Harlow April 19, 2017

BLOOMINGTON, ILL. — Stage Equity Partners has acquired The Center for Outpatient Medicine (TCOM) in Bloomington for $14.5 million. The 45,150-square-foot multi-specialty outpatient surgical center is located at 2502 East Empire St. The property is 100 percent leased to TCOM, which is majority owned by Advocate Health Care and Carle Clinic as well as 18 physicians. Stage purchased the asset from the physician owners of TCOM in a sale-leaseback transaction. MB Financial provided the financing.

April 19, 2017

Healthcare Midwest Ohio

Reichle Klein Group Brokers $3.9M Sale of Medical Office Building in Perrysburg, Ohio

by Kristin Harlow April 19, 2017

PERRYSBURG, OHIO — Reichle Klein Group has brokered the sale of a medical office building in Perrysburg, 11 miles south of Toledo, for $3.9 million. The 27,672-square-foot building is located at 1103 Village Square Drive. Marty Gallagher of Reichle Klein Group represented the seller, Walbridge Investors LLC. Silvana Graff of Sperry Van Ness represented the buyer, CHCT Ohio LLC.

April 19, 2017

Connecticut Healthcare Mixed-Use Multifamily Northeast

Mixed-Use Medical, Residential Project Planned in Downtown New Canaan, Conn.

by Haisten Willis April 18, 2017

NEW CANAAN, CONN. — CH Vitti Street Associates and Collins Enterprises will develop a mixed-use medical and residential property at 23 Vitti St. in New Canaan. Known as New Canaan Medical Arts Center, construction will begin in May and will be completed in spring 2018. Do H. Chung & Partners is the project architect and Avison Young will serve as leasing agent. The two-story, 9,000-square-foot medical center will be constructed along the parcel’s 121 feet of frontage, with a public courtyard along Vitti Street. The commercial portion of the project includes 2,000 square feet of medical space on the first floor and 7,000 square feet on the second floor, which can be subdivided. Building features will include automated doors and a medical grade HVAC system with HEPA filtration. The project also includes eight apartments to be developed as a separate building on the site. Each use will have its own entrance and will be separated by a landscaped parking area and residential pathways. The site is located in downtown New Canaan within walking distance of restaurants, services and transportation.

April 18, 2017

Arizona Healthcare Office Western

Montecito Medical Real Estate Buys Sun City Medical Office Building

by Nellie Day April 17, 2017

SUN CITY, ARIZ. — Montecito Medical Real Estate has purchased a 35,420-square-foot medical office building in Sun City for an undisclosed sum. The Class A building is situated within a 12-acre plaza originally that was built as a retail center in 1974. The space was renovated in 2012. The building is fully leased to specialty practices, including neurology, urology, dermatology, opthalmology, internal medicine, digestive health and an ambulatory surgery center for endoscopy.

April 17, 2017

Healthcare Illinois Midwest Top Stories

Care Capital Properties to Acquire Six Behavioral Health Hospitals for $400M

by Katie Sloan April 11, 2017

CHICAGO — Care Capital Properties Inc. (NYSE: CCP) has entered into a definitive agreement to acquire six behavioral health hospitals in a sale-leaseback transaction for $400 million. The six-property portfolio contains a total of 712 beds in California, Arizona and Illinois. The hospitals primarily provide acute inpatient and outpatient psychiatric care, addiction services, geriatric psychiatric care and child and adolescent psychiatric care. Signature Healthcare Services LLC, one of the largest privately owned behavioral healthcare providers in the United States, currently owns the properties. As part of the transaction, CCP has agreed to fund up to $50 million in expansion and improvements within the portfolio. CCP will also have an option, exercisable beginning in the fourth quarter of 2018, to purchase one additional building for an amount that is expected to be approximately $20 million. Acquired properties include Aurora Charter Oak Hospital in Covina, Calif.; Aurora Vista del Mar Hospital in Ventura, Calif.; Aurora San Diego Hospital in San Diego; Aurora Arizona West in Glendale, Ariz.; Aurora Arizona East in Tempe, Ariz.; and Aurora Chicago Lakeshore Hospital in Chicago. Upon completion of the transaction, which is slated for the second quarter of 2017, CCP will lease the properties to affiliates of …

April 11, 2017

Healthcare Iowa Kansas Midwest Missouri Multifamily Nebraska Seniors Housing

Blueprint Brokers $82M Sale of 18 Skilled Nursing Facilities in the Midwest

by Kristin Harlow April 7, 2017

CHICAGO — Blueprint Healthcare Real Estate Advisors, a Chicago-based brokerage firm, has negotiated the sale of 18 skilled nursing facilities located throughout the Midwest for $82 million. The portfolio included nine properties in Kansas, six in Missouri, two in Iowa and one in Nebraska. The specific names and locations of the properties were not disclosed. The regional portfolio comprises 1,843 total licensed beds and generated approximately $110 million in revenue on a trailing basis at the time of sale. Most of the facilities are situated in suburban neighborhoods, while several of the centers were in secondary markets within driving distance from Kansas City. The seller, a publicly traded owner-operator, was looking to exit the Midwest region to create a tighter geographic density for its properties, as well as focus on hospital partnerships. The buyer is Illinois-based Cascade Capital Group, which went through several rounds of bidding. The sale includes an undisclosed level of HUD mortgage debt and two leased assets. The sales price equates to $45,000 per bed. Ben Firestone, Christopher Hyldahl and Michael Segal of Blueprint structured the transaction.

April 7, 2017

Healthcare Texas

Mycon Completes Construction of $3.5M Medical Clinic in Grand Prairie

by Taylor Williams April 5, 2017

GRAND PRAIRIE, TEXAS — Mycon General Contractors has completed construction of a new, 6,997-square-foot First Choice Emergency Room in the Dallas-Fort Worth metro of Grand Prairie. Situated on 0.9 acres at 901 W. Jefferson St., the $3.5 million, freestanding medical clinic features on-site labs and digital imaging suites. A service station and convenience store previously occupied the site, construction on which began in August 2016.

April 5, 2017

Connecticut Healthcare Northeast Office

Cushman & Wakefield Brokers 100,968 SF Medical Office Lease in Stratford, Conn.

by Haisten Willis March 31, 2017

STRATFORD, CONN. — Cushman & Wakefield has brokered a 10-year lease extension totaling 100,968 square feet for Yale New Haven Health (YNHH) and North East Medical Group (NEMG) at 99 Hawley Lane in Stratford. Jay Hruska of Cushman & Wakefield led the leasing efforts on behalf of the tenants, while Joseph Codi internally represented building owner Mountain Development. YNHH and NEMG will house multiple office and support functions at the location. 99 Hawley Lane, also known as Merritt 8 Corporate Park, is a Class A office building with recently renovated common areas. Amenities include a cafeteria, corporate conference center, fitness center, lobby concierge and structured parking.

March 31, 2017

Healthcare Indiana Loans Midwest

Strawberry Fields Receives $4.4M HUD Loan for Refinancing of Skilled Nursing Facility in Scottsburg, Indiana

by Kristin Harlow March 29, 2017

SCOTTSBURG, IND. — Strawberry Fields REIT LLC has received a $4.4 million HUD guaranteed loan for the refinancing of The Waters of Scottsburg, a skilled nursing facility in southern Indiana. The 99-bed facility is currently 69 percent occupied. Strawberry Fields, which owns 57 facilities largely located in the Midwest, acquired the building in 2014. The fixed-rate loan features a 35-year term.

March 29, 2017

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