Healthcare

Marcus & Millichap Brokers Sale of 11,200 SF Net-Leased Medical Center in Addison, Ill.

by Jonathan Mehall July 30, 2015

ADDISON, ILL. — Marcus & Millichap has brokered the sale of Alexian Brothers Health System, an 11,200-square-foot, net-leased medical center located at 1339 W. Lake St. in Addison, approximately 22 miles west of Chicago. The asset sold for $3 million. The medical center is open 24 hours and is a full-service facility providing immediate medical care, diagnostic imaging and an array of other services. The facility includes a large assortment of imaging equipment. Sean Sharko, Valerie Cook and Austin Weisenbeck of Marcus & Millichap’s Oakbrook office marketed the property on behalf of the seller, a limited liability company. Sharko and Weisenbeck also represented the buyer, a limited liability company.

July 30, 2015

Healthcare Hospitality Texas

Ascension Group Architects Completes Behavioral Health Hospital in Metro Houston

by Haisten Willis July 29, 2015

KATY, TEXAS — Ascension Group Architects recently completed Oceans Behavioral Hospital Katy at 455 Park Grove Drive in Katy. The hospital opened to patients in the spring. The 48-bed, 34,274-square-foot behavioral health hospital provides care to adults 55 and older who require inpatient hospitalizations for psychiatric illnesses. The property is located just south of I-10 and Mason Road and is a joint venture between Dallas-based real estate investment and development company SRP Medical and Plano, Texas-based Oceans Healthcare. The property is Oceans’ seventh hospital in Texas and fourth in partnership with SRP. Dallas-based Rogers-O’Brien Construction was the general contractor.

July 29, 2015

Healthcare Midwest Missouri

McGrath Begins $6.5M Expansion of New Energy Center at Des Peres Hospital in St. Louis

by Jonathan Mehall July 27, 2015

ST. LOUIS — McGrath & Associates has begun construction on a $6.5 million energy center expansion at Des Peres Hospital in St. Louis. The architect for the project is ACI Bolland Architects. The 3,475-square-foot expansion is expected to increase capacity and reliability of the hospital’s heating, cooling and emergency power systems. The expanded center will house a new chiller, boilers, switchgear, and automatic transfer switches. A new cooling tower and fuel tanks will be installed adjacent to the expansion. When completed, the Des Peres Hospital energy center will total 8,875 square feet. The project will be completed in phases to allow the hospital and its heating, cooling and emergency power systems to remain fully operational throughout construction, which is scheduled for completion in the spring of 2016.

July 27, 2015

Georgia Healthcare Southeast

Stage Equity Partner Sells Medical Office Building in Metro Atlanta for $7.5M

by John Nelson July 24, 2015

MORROW, GA. — Chicago-based Stage Equity Partners LLC has sold a 37,813-square-foot medical office building at 1000 Corporate Center Drive in Morrow, a suburb of Atlanta. The healthcare real estate investment firm sold the fully leased asset to an unnamed private healthcare REIT for $7.5 million in an off-market transaction. The multi-tenant property is anchored by Clayton Eye Center and Atlanta Medical Center. The sale comes upon the completion of Stage Equity’s exterior and interior renovations to the property.

July 24, 2015

Connecticut Healthcare Loans Northeast Office

Fantini & Gorga Arranges $12.9M Loan for Two Medical Office Buildings in Connecticut

by Amy Works July 22, 2015

HAMDEN, CONN. — Fantini & Gorga has arranged $12.9 million in first mortgage permanent financing for two medical office buildings in Hamden, a city in southeast Connecticut. Totaling 65,216 square feet, the properties are fully leased and occupied by regional and local medical practices. Casimir Groblewski of Fantini & Gorga arranged the refinancing with a major securitization lender for the borrower, a New England-based real estate developer and investor.

July 22, 2015

North Carolina Specialty Hospital Durham

Healthcare North Carolina Southeast

Insite Arranges CNL Healthcare’s Purchase of a Medical Office Portfolio in Raleigh-Durham

by John Nelson July 22, 2015

RALEIGH AND DURHAM, N.C. — Charlotte-based Insite Properties has represented CNL Healthcare Properties in the acquisition of five single-tenant medical facilities in the Raleigh-Durham area. The portfolio includes the 58,189-square-foot North Carolina Specialty Hospital in Durham and four medical office buildings totaling 103,049 square feet. The 63,158-square-foot flagship facility and corporate headquarters for Triangle Orthopaedics Associates is the largest of the four medical office buildings. The five buildings were built between 2004 and 2011 and the current tenants have between 12 and 15 years remaining on their leases. Insite Properties will provide property management services for the portfolio. Sam DiFranco of Trinity Partners represented the seller in the transaction.

July 22, 2015

Healthcare Midwest Wisconsin

Hammes Partners’ Healthcare Real Estate Private Equity Fund Raises $430M

by Jonathan Mehall July 17, 2015

MILWAUKEE, WIS. — Hammes Partners has closed on Hammes Partners II LP, a U.S. healthcare real estate private equity fund. Milwaukee-based Hammes Partners received $430 million in capital commitments, significantly over its original target of $300 million. The Hammes platform is focused exclusively on U.S. outpatient healthcare real estate, including investments in existing assets, entitled development projects and adaptive reuse opportunities. Institutional investors that committed capital to the fund include endowments, foundations, pension funds, insurance companies, fund of funds and family offices.

July 17, 2015

Georgia Healthcare Southeast

Triad Properties Taps Choate Construction to Build $26M Medical Office Building in Alpharetta

by John Nelson July 16, 2015

ALPHARETTA, GA. — Huntsville, Ala.-based Triad Properties has selected Atlanta-based Choate Construction to build a four-story, 106,000-square-foot medical office building in Alpharetta. The $26 million facility will be situated on a 11.7-acre site at the northeast corner of Old Milton Parkway and GA 400, which is adjacent to Northside Hospital’s 140-acre Alpharetta Medical Campus. The site will feature both the Class A medical office building and either an ambulatory care center or urgent care center. Atlanta-based HealthAmerica Realty Group has begun pre-leasing and marketing the property. The design team includes architect Smallwood, Reynolds, Stewart, Stewart & Associates and civil engineer Wolverton & Associates. Choate Construction expects to complete the property in the fall of 2016.

July 16, 2015

Healthcare Illinois Midwest

Reed Construction to Remodel Acute Care Rehabilitation Center At Hospital in Metro Chicago

by Jonathan Mehall July 14, 2015

BERWYN, ILL. — Reed Construction will begin work this month on a remodeling of the Acute Care Rehabilitation Center at MacNeal Hospital in Berwyn, approximately 10 miles southwest of Chicago. The 427-bed medical facility is located at 3249 South Oak Park Ave. The project, which spans 11,250 square feet, will include updates to the mechanical, electrical and plumbing systems along with all the finishes. The project also involves upgrading a major portion of the base bid electrical infrastructure. Completion is scheduled for early September. Rich Melone, senior project manager, is leading the construction team for Reed. MRF Ltd. of Western Springs, Ill., is providing architectural services. Boca Raton, Fla.-based In.design Inc. is providing interior design services. MacNeal Hospital serves the medical needs of more than 1 million people in the near west and southwest suburbs of Chicago.

July 14, 2015

Healthcare Midwest Minnesota Office

Kraus-Anderson Breaks Ground on 130,000 SF Neuroscience Center

by Jonathan Mehall July 10, 2015

ST. PAUL, MINN. — Kraus Anderson Construction Co. has broken ground on a new 130,000-square-foot neuroscience building for HealthPartners in St. Paul. The medical center will be the largest freestanding neuroscience facility in the Upper Midwest, according to Kraus-Anderson. Located at 295 Phalen Blvd. near I-35E, the four-story medical building will include administration offices and a four-story, 298,000-square-foot parking ramp. Architectural firm BWBR is designing the building to accommodate future expansion. The neuroscience building is expected to be complete in early 2017.

July 10, 2015

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