Healthcare

HFF Facilitates Sale of Coit Medical Center in Dallas

by Amy Works December 9, 2016

DALLAS — HFF has arranged the sale of Coit Medical Center, a medical office building located at 12230 Coit Road in Dallas. Mohr Capital sold the 32,201-square-foot property to Anchor Health Properties for an undisclosed price. Baylor Scott & White Health, Greater Dallas Orthopaedics, Legacy Heart Care, Texas Orthopaedic Surgical Associates and Lester Plastic Surgery occupy the fully leased building, which was built in 2009. Evan Kovac, Todd Savage, Philip Mahler and Ben Appel of HFF represented the seller in the deal.

December 9, 2016

Healthcare New Jersey Northeast

Carter Validus Mission Critical REIT II Acquires 89,000 SF Medical Building in New Jersey for $63.6M

by Amy Works December 6, 2016

MARLTON, N.J. — Carter Validus Mission Critical REIT II Inc. has acquired Select Medical Rehabilitation Facility in Marlton for $63.6 million. Built in 1995, the three-story rehabilitation building offers 89,000 rental square feet and is net leased to Kessler Institute for Rehabilitation Inc., a subsidiary of Select Medical Holdings Corp. The tenant offers a variety of services including inpatient physical, occupational, speech and recreational therapy and outpatient aquatic therapy, prosthetic training, lymphedema management, balance rehabilitation and vestibular therapy. The name of the seller was not released.

December 6, 2016

Healthcare Kansas Midwest

Everest Medical Core Properties Acquires 52,000 SF Medical Building in Overland Park, Kansas

by Kristin Harlow December 6, 2016

OVERLAND PARK, KAN. — Everest Medical Core Properties has acquired Foxhill Medical Center in Overland Park for $9 million. The 52,000-square-foot, three-story building features medical and dental suites. The property is located near I-435 in close proximity to several major hospitals and surgical centers. The building was renovated in 1998, and major exterior enhancements were completed in 2016. The building is 97 percent occupied, with an average of four years remaining on lease terms.

December 6, 2016

University Hospital, Charlottesville, Va.

Healthcare Southeast Top Stories Virginia

Skanska USA to Renovate, Expand University Hospital in Virginia for $142M

by Jeff Shaw December 1, 2016

CHARLOTTESVILLE, VA. — Skanska USA, a division of the Sweden-based construction company, has been chosen for a $142 million renovation and expansion of University Hospital, located on the University of Virginia campus in Charlottesville. The main part of the expansion will be a 425,000-square-foot, 15-story tower on a plot adjacent to the current hospital, a helipad that is no longer in use. The expansion includes a new emergency department, surgical suites, a six-story inpatient section and expanded ancillary services. The project also includes 95,000 square feet of renovations to the existing buildings, including new drop-off and entry points for the ambulances. The project will be completed in phases. The tower is scheduled to open in the fourth quarter of 2019, and the renovations are scheduled for completion in the fourth quarter of 2020. The hospital is part of the University of Virginia Health System. International architecture firm Perkins+Will designed the project. — Jeff Shaw

December 1, 2016

Healthcare Office Texas

Origin Investments Sells 90,000 SF Medical Office Building in Houston Suburb

by Amy Works November 30, 2016

KINGWOOD, TEXAS — Origin Investments has completed the disposition of Kingwood Medical Arts, a medical office building located at 300-350 Kingwood Medical Drive in Kingwood. A healthcare REIT acquired the property for an undisclosed price. The 90,000-square-foot property is anchored by a 30,000-square-foot surgical center operated by a venture between Memorial Hermann Health System and United Surgical Partners.

November 30, 2016

Georgia Healthcare Southeast

Avison Young Brokers $5.6M Sale-Leaseback of Medical Office Building in Metro Atlanta

by John Nelson November 30, 2016

DUNWOODY, GA. — Avison Young has arranged the $5.6 million sale-leaseback of a 16,500-square-foot medical office building located at 4646 N. Shallowford Road in Dunwoody, a northeast suburb of Atlanta. The property features 12 examination rooms and features a rehabilitation center on-site. The seller, Progressive Medical, a medical clinic specializing in both traditional and holistic forms of medicine, has occupied the building since 1998 and has recently signed a 12-year lease with the new owner as part of the transaction. Art Waldrop and Sean Moynihan of Avison Young brokered the deal.

November 30, 2016

Healthcare Office Texas

Duke Realty, Baylor Scott & White Health Open 77,000 SF Medical Office Building in McKinney, Texas

by Amy Works November 21, 2016

MCKINNEY, TEXAS — Duke Realty and Baylor Scott & White Health, a not-for-profit healthcare system, have opened Baylor McKinney Physician Office Building 2 in McKinney. Located at 5252 W. University Drive, the three-story, 77,000-square-foot building is adjacent to Baylor McKinney I, an 114,924-square-foot medical office building. Affiliates of Baylor Scott & White lease a significant portion of both buildings. The Dallas office of Medco Construction served as general contractor, while the Dallas office of HDR served as architect for the project, which was developed by Duke Realty.

November 21, 2016

Healthcare Office Texas

Colliers Negotiates Sale of 12,300 SF Medical Office Building in Houston

by Amy Works November 10, 2016

HOUSTON — Colliers International has brokered the sale of a medical office building located at 150 FM 1959 in Houston. WHGS Holdings Co., dba Coastal Surgical Group, sold the property for an undisclosed price. Built in 2007, the property features 12,300 square feet of medical office space. Beth Young and Marshall Clinkscales of Colliers represented the seller, while Cameron Crouch of Gulf Coast Properties represented the undisclosed buyer in the transaction.

November 10, 2016

Kindred Nursing and Healthcare – Victorian, San Francisco

Healthcare Multifamily Seniors Housing Top Stories

Kindred Plans to Leave Skilled Nursing Business, Posts Third-Quarter Loss of $671.3M

by Jeff Shaw November 8, 2016

LOUISVILLE, KY. — Kindred Healthcare Inc. (NYSE: KND) plans to fully exit the skilled nursing business, the Louisville-based healthcare owner-operator announced Monday afternoon during a third-quarter earnings call. Kindred posted a $671.3 million loss in the third quarter. The company was already in the process of reducing the number of skilled nursing facilities in its portfolio. At its peak the company owned and/or operated more than 300 skilled nursing facilities across the country. Kindred will instead focus the bulk of its efforts on Kindred at Home, the country’s largest provider of home healthcare and hospice services, according to Kindred. The company expects half its earnings to come from Kindred at Home, while long-term acute care hospitals will account for 25 percent of its earnings and rehabilitation services will account for the remainder. By divesting its entire skilled nursing portfolio, Kindred expects to reduce annual rent obligations by $90 million, capital expenditures by $30 million and corporate overhead by between $70 million and $100 million. “We are taking proactive strategic steps to position Kindred for long-term success against the backdrop of dynamic changes in the healthcare services industry,” says Benjamin Brier, president and CEO of Kindred. “Our plan to exit the …

November 8, 2016

Healthcare Texas

Montecito Medical to Acquire Rockwall Medical Plaza in Metro Dallas

by Jeff Shaw November 7, 2016

ROCKWALL, TEXAS — Montecito Medical Real Estate has agreed to acquire Rockwall Medical Plaza, a 20,007-square-foot medical office building and surgery center located roughly 25 miles outside Dallas in Rockwall. The property is situated on the campus of Texas Health Presbyterian Hospital and was constructed last year. An ambulatory surgery center developed by a joint-venture between Texas Health Resources and Spine Team Texas anchors the building. Other tenants include a clinic and neurology and dental offices. Montecito Medical has acquired 21 medical office buildings over the past 12 months, and plans to close on five additional properties by January.

November 7, 2016

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