PHILADELPHIA — Iovance Biotherapeutics Inc. (NASDAQ: IOVA) has opened a 136,000-square-foot life sciences facility at the Philadelphia Navy Yard, where the biomanufacturing firm will produce T cell-based immunotherapies for cancer patients. Gattuso Development Partners developed the facility, which is located within an opportunity zone, and CRB provided design and construction
TUCSON, ARIZ. — Sonora Behavioral Health Hospital has purchased a medical office building, located at 3130 E. Broadway Blvd. in Tucson, from LC3130 LLC for $3.9 million.The single-story property features 16,999 square feet of medical office space. Thomas Nieman of Cushman & Wakefield represented the seller, while Jeremy Adams with Jones Lang LaSalle Brokerage’s Atlanta office represented the buyer in the
BEVERLY HILLS, CALIF. — Meridian, in a joint venture with a larger institutional investment partner, has purchased Beverly Hills Medical Plaza, a medical office building located at 150 N. Robertson Blvd. in Beverly Hills. Beverly Hills Medical Plaza Properties sold the asset for $81.5 million in an off-market transaction.The 67,510-square-foot property has been family owned since it was originally built in 1989 and was 88 percent leased at the time of sale. The buyer plans to invest …
HOUSTON — A partnership between Chicago-based investment firm Harrison Street, 2ML Real Estate Interests and local developer Hines has broken ground on a 270,000-square-foot life sciences building in Houston. The building, which represents the first phase of the Levit Green mixed-use development, is located on a 53-acre site adjacent to Texas Medical Center. Additional uses at Levit Green will include retail, residential and office space. DE Harvey Builders is the general contractor for the …
WATERTOWN, MASS. — Locally based developer Berkeley Investments will undertake a project to convert a building at 64 Pleasant St. in the western Boston suburb of Watertown into a 105,000-square-foot life sciences facility. The two-story building offers a conference room, rooftop deck, fitness center and outdoor gathering spaces. Berkeley will upgrade the property’s utility and mechanical systems, elevate the ceiling heights, introduce reinforced concrete floors and add lab space. SGA is the …
EAST GREENWICH, R.I. — Nashville-based owner-operator Montecito Medical has acquired a 60,000-square-foot medical office building in East Greenwich, about 20 miles south of Providence. Built in 2013 and renovated in 2020, the multi-tenant property was fully leased at the time of sale, with University Orthopedics occupying 61 percent of the space as the anchor tenant. Other occupants include Coastal Medical Group, Velocity Clinical Research and Providence Behavioral
OHIO — Greystone has provided a $50.1 million bridge loan for the acquisition of a six-property skilled nursing portfolio in Ohio. The communities total 719 beds and are located in Berea, Cleveland, Clyde, Kent and Waterville. Fred Levine of Greystone originated the floating-rate, interest-only loan through Greystone’s nonrecourse bridge loan program. Greystone says it will work with the borrower to secure a permanent HUD-insured loan for the skilled nursing portfolio as soon as possible. …
MILWAUKEE — Physicians Realty Trust (NYSE: DOC), through its operating partnership Physicians Realty LP, has agreed to acquire a 15-building medical office portfolio for $764.3 million. The Class A buildings are located in eight states and comprise approximately 1.4 million square feet. The portfolio is roughly 95 percent leased. Each of the buildings are either located on a health system campus or are affiliated with a health system. The transaction is expected to close before the end of the …
MUNSTER, IND. — CA Health and Science Trust Inc. (CAHST), a newly formed private REIT focused on the acquisition and development of medical office and life sciences facilities, has acquired a three-building medical office complex in Munster for an undisclosed price. Munster is located about 30 miles southeast of the Chicago Loop.The buildings total more than 113,200 square feet and are home to ambulatory surgery centers. The sale also includes adjacent land parcels for the potential …
BURBANK, CALIF. — GPI Cos. has acquired a medical office building, located at 2701 W. Alameda Ave. in Burbank, from a private real estate investor for $23.9 million, or $468 per square foot.The 50,986-square-foot building was 90.4 percent leased to 22 medical tenants, with most of the space occupied by doctors on staff at Providence Saint Joseph Medical Center.Mark Shaffer, Anthony DeLorenzo, Chris Bodnar, Lee Asher, Gerard Poutier and Cody Chiarella of CBRE represented the seller in …
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