TOMBALL AND JOURDANTON, TEXAS — HCA Holdings, a Tennessee-based, publicly traded operator of more then 300 medical properties, will acquire two hospitals totaling 417 beds in Texas from subsidiaries of Community Health Systems. The two properties are Tomball Regional Medical Center, a 350-bed facility in the Houston metro of Tomball, and South Texas Regional Medical Center, a 67-bed facility in the San Antonio metro of Jourdanton. The transaction is expected to close this summer.
DALLAS — Marcus & Millichap has brokered the sale of Forest Green Office/Medical Complex, a four-building, 173,790-square-foot asset located along Greenville Avenue near Interstate 635 and the LBJ Freeway in Dallas. Ron Hebert and Michael Lawrence of Marcus & Millichap represented the seller, a California-based investment group. The property, which was built in 1985, was 82 percent leased at the time of sale.
RIVERSIDE, CALIF. — Sims Mortgage Funding has closed a $30.1 million loan for Parkview Community Hospital in Riverside. The hospital is located at 3865 Jackson St. The loan will finance the expansion of Parkview’s emergency department. The loan was insured under the HUD Section 242/241 program.
INDIANAPOLIS — Duke Realty Corp. (NYSE: DRE) has agreed to sell its entire portfolio of medical office properties to Healthcare Trust of America (NYSE: HTA) for roughly $2.8 billion. The transaction is expected to close in stages by year’s end. The portfolio totals approximately 6.6 million square feet of gross leasable space across 78 properties. Of those, 71 are in-service buildings, five are under construction and two are holdings of unconsolidated joint ventures in which Duke has interests. The sale also includes two parcels of land totaling 16.5 acres. Collectively, the assets were 94 percent leased at the time of sale. According to Duke CEO Jim Connor, the transaction signifies the company’s effort to focus exclusively on industrial properties. “Monetizing our medical office business is accretive to our net asset value per share and creates a more simplified business model with improved transparency,” says Connor. “This represents a long-term benefit to our stakeholders while we position the company as a leading, pure-play industrial REIT.” Proceeds of the sale will be used to pay off $1.2 billion in existing debt, fund new industrial projects and to pay dividends to shareholders. The terms of sale call for Duke to provide $50 million …
EAST SETAUKET, N.Y. — HFF has secured an $81.5 million recapitalization for Stony Brook Technology Center, an eight-building medical office portfolio totaling 261,824 square feet in the Long Island community of East Setauket. HFF represented the borrower, TRITEC Real Estate, and procured the lender, a fund advised by UBS Real Estate & Private Markets. Completed between 1987 and 2007, the portfolio is located in a master-planned business park. Stony Brook University occupies more than 65 percent of the buildings. The HFF team representing TRITEC included Andrew Scandalios, Jose Cruz and Michael Gigliotti.
NOVI, ROYAL OAK, STERLING HEIGHTS AND ALLEN PARK, MICH. — Keystone Commercial Real Estate has negotiated four leases for Dental One Partners in Michigan. Dental One is locating to visible street-front locations in Novi, Royal Oak, Sterling Heights and Allen Park. The dental chain, based in Dallas, operates over 160 practices in 13 states and plans to continue to expand throughout Michigan. Greg Newman of Keystone arranged the leases on behalf of Dental One.
ATLANTA — PMZ Realty Capital has closed an $82.5 million loan for Embassy Suites by Hilton Atlanta at Centennial Park, a 321-room hotel located at 267 Marietta St. in downtown Atlanta. Situated near Centennial Olympic Park in Atlanta’s Luckie-Marietta district, the hotel features 16,000 square feet of meeting space and an outdoor pool and spa. The borrower, Legacy Property Group, is using the floating-rate financing to retire existing debt on the hotel, which has recently undergone a $10 million facelift. This is the fourth loan that PMZ Realty Capital has closed for Legacy.
NORWALK, CONN. — Cushman & Wakefield has arranged the $11.9 million sale of Belden Square, a two-building medical office/residential apartment complex located at 747 Belden Ave. in Norwalk. Belden Square LLC purchased the newly renovated, 45,000-square-foot property, formerly the U.S. headquarters of Virgin Atlantic, from SG Belden LLC. The Cushman & Wakefield team of Al Mirin, Kate Schwartz, Matthew Torrance and Kathleen Fazio represented the seller. The buyer was self-represented.
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.
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.