Healthcare

Griffin-American Healthcare REIT III Acquires Medical Office Portfolio in Connecticut

by Amy Works January 23, 2017

NORWICH, CONN. — Griffin-American Healthcare REIT III has acquired a two-building medical office portfolio in Norwich for $15.6 million. Totaling 56,265 square feet, the portfolio includes Wawecus Medical Center and a building located at 105 Wawecus St. Yale Cardiovascular, Eastern Connecticut Endoscopy, Connecticut GI and Norwich Ophthalmology occupy the portfolio. Lisa Menin of Jacobson Properties and John LaBella of RE/MAX Right Choice brokered the transaction. The name of the seller was not released.

January 23, 2017

Florida Healthcare Loans Southeast

Tremont Realty Capital Structures $16.3M Refinancing for Medical Office Building in Jacksonville

by John Nelson January 20, 2017

JACKSONVILLE, FLA. — Tremont Realty Capital, a subsidiary of The RMR Group LLC, has arranged a $16.3 million loan for the refinancing of Jacksonville Medical Plaza, a 132,488-square-foot, multi-tenant medical office complex in Jacksonville. The non-recourse, CMBS loan features a 10-year term, fixed 5.26 percent interest rate and a 30-year amortization schedule. The name of the borrower wasn’t disclosed.

January 20, 2017

Connecticut Healthcare Northeast Office

Tomasso Group Sells Medical Office Building in Connecticut for $30.2M

by Amy Works January 19, 2017

PLAINFIELD, CONN. — Tomasso Group has completed the disposition of Medical Arts Center at The Hartford Healthcare Cancer Institute, located at 201 N. Mountain Road in Plainfield. A publicly traded REIT acquired the property for $30.2 million. At the time of sale, the 72,022-square-foot property was 95 percent leased to Hartford Healthcare, Orthopedic Associates of Hartford and a variety of Hartford Healthcare-employed physicians. Ben Appel, Phil Mahler, Evan Kovac and Doug Rodio of HFF represented the seller in the transaction. Tunxis Management Co., an affiliate of Tomasso Group, will continue to manage the property.

January 19, 2017

Healthcare Midwest Missouri

McCarthy Completes Construction of $31.3M Cancer Facility in Rolla, Missouri

by Kristin Harlow January 19, 2017

ROLLA, MO. — McCarthy Building Cos. Inc. has completed construction of the Delbert Day Cancer Institute at Phelps County Regional Medical Center in Rolla in central Missouri. The 37,000-square-foot cancer care facility occupies the first two levels of the new, four-story, 100,470-square-foot building constructed by McCarthy. Located at the north side of the main hospital campus, the $31.3 million building is connected to an adjacent medical office building via a pedestrian bridge.The new facility includes more than 63,000 square feet of medical office space to accommodate future tenants. The institute houses radiation therapies, nuclear medicine, infusion therapy, medical oncology and supporting lab and pharmacy services. To optimize efficiency, the project team employed Lean construction techniques, including the construction of prefabricated mechanical, engineering and plumbing systems, using building information modeling to reduce site waste. McCarthy also used advanced construction technologies such as a semi-automated robotic mason to enhance the efficiency of bricklaying. BSA LifeStructures designed the building.

January 19, 2017

Healthcare Illinois Midwest

Baum Arranges $4.1M Sale of Medical Building in Park Ridge, Illinois

by Kristin Harlow January 17, 2017

PARK RIDGE, ILL. — Baum Realty Group LLC has arranged the sale of a medical building in Park Ridge for $4.1 million. The 13,925-square-foot building is located at 101 S. Washington Ave. The property is 100 percent leased. Medical practices have occupied the property for over 20 years. Danny Spitz and Greg Dietz of Baum represented the seller, a national developer. A Chicago-based investment group was the buyer.

January 17, 2017

Georgia Healthcare Southeast

Children’s Healthcare of Atlanta Breaks Ground on Pediatric Care Center in Brookhaven

by John Nelson January 12, 2017

BROOKHAVEN, GA. — Children’s Healthcare of Atlanta (CHOA) has broken ground on its Center for Advanced Pediatrics ambulatory care center, a new 260,000-square-foot facility situated at I-85 and North Druid Hills Road in Brookhaven, a suburb of Atlanta. Located at 1400 Tullie Road N.E., the Center for Advanced Pediatrics will house 457 physicians and employees and anticipates managing more than 100,000 patient visits in the first year. The development cost was undisclosed, but the Atlanta Business Chronicle reports that contractors familiar with the project estimate that the facility could cost anywhere from $90 million to $120 million to build. Pulmonology, neurology, cardiology and diabetes are a few of the specialties that will move into the new building, which will be centrally located to CHOA’s three hospital campuses: Egleston, Hughes Spalding and Scottish Rite. Basic imaging and phlebotomy services will also be available at the facility. In addition to physician space, the six-story property will have telemedicine capabilities, flexible exam rooms, a teaching classroom and a demonstration kitchen. Additional features of the site include gardens and green space around the building and a dedicated parking deck. CHOA has not announced an expected completion date.

January 12, 2017

Healthcare Loans New York Northeast Office

Cronheim Mortgage Closes $12.7M in Refinancing for Two Medical Office Buildings in Long Island

by Amy Works January 12, 2017

LONG ISLAND, N.Y. — Cronheim Mortgage has arranged $12.7 million in refinancing for two medical office buildings located at 520 Franklin Ave. in Long Island’s Garden City. The properties total 100,141 square feet. The loan was structured with an initial five-year fixed-rate period locked at 3.875 percent followed by a five-year extension option. David Turley, Janet Proscia and Jeff Pacailler of Cronheim arranged the financing for the undisclosed borrower.

January 12, 2017

Georgia Healthcare Southeast

Randolph Williamson Delivers Medical Facility in Georgia

by John Nelson December 12, 2016

GRIFFIN, GA. — Randolph Williamson, a real estate construction, development and management firm based in Peachtree City, Ga., has delivered a 53,970-square-foot medical facility located adjacent to Spalding Regional Hospital in Griffin. Developed by Group VI Development, the project broke ground in 2014. Other members of the project team for the new facility include WM2A Architects and Medical Management Associates Inc. The building includes 72 exam rooms, new labs and an enclosed pedestrian bridge to Spalding Regional.

December 12, 2016

Connecticut Healthcare Northeast

MedCraft Healthcare Real Estate Completes 97,000 SF Stamford Integrated Care Pavilion in Connecticut

by Amy Works December 12, 2016

STAMFORD, CONN. — MedCraft Healthcare Real Estate has completed the development of Stamford Integrated Care Pavilion, located at 29 Hospital Plaza on the main campus of Stamford Health in Stamford. Connected to the Stamford Hospital, the 97,000-square-foot facility features three levels of clinical offices on top of a 382-car parking deck. The first practices to open at the facility include Stamford Health Medical Group Electrophysiology, Cardiology and Thoracic Surgery offices. When fully operational, the facility will house various specialists and services. The project team includes Suffolk Construction and WHR Architects.

December 12, 2016

Healthcare Office Texas

Capital One Closes $21.2M Acquisition Loan for Medical Office Building in Metro Houston

by Amy Works December 12, 2016

SUGAR LAND, TEXAS — Capital One has provided a $21.2 million first mortgage to a joint venture between Harrison Street Real Estate Partners and Pisula Development Co. for the acquisition of Imperial Medical Center in Sugar Land, a suburb of Houston. The property features 128,000 square feet of medical office space.

December 12, 2016

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