HOUSTON — Medistar has retained Moody Rambin as the exclusive property management and leasing agent for the 17-story River Oaks Medical Tower, a 139,827-square-foot medical office tower located in Houston. The property is located at 4126 S.W. Freeway in Houston's Greenway Plaza submarket. The property offers medical suites ranging from 1,500 to 8,000 square feet, with approximately 70,799 square feet available for lease. The property recently underwent a multi-million dollar exterior and interior renovation. Walter Cameron of Moody Rambin will oversee property management, and Kurt Kistler and Bob Cromwell of Moody Rambin will handle the leasing assignment.
Healthcare
FORT HOOD, TEXAS — The Balfour Beatty | McCarthy team has topped off its design-build services for the Carl R. Darnall Army Medical Center Replacement at Fort Hood. The $536 million medical center replacement is the largest project to date funded by the American Recovery and Reinvestment Act of 2009. The 947,000-square-foot project is also the largest design-build project in the Department of Defense's medical construction. The new hospital will replace the existing Carl R. Darnall Army Medical Center and will provide healthcare services for service members and their families. The project sits on a 72-acre site and will include a six-story hospital tower, two two-story outpatient clinics, a three-story outpatient clinic, ambulance garage, logistics building, central utility plant and three parking structures. The Balfour Beatty | McCarthy team held a topping off ceremony with members of the U.S. Army Corps of Engineers, Health Facilities Planning Agency and Medical Command. Construction is scheduled for completion in July 2014, with operations to start in summer 2015.
CARMICHAEL, CALIF. — St. George Medical Center, a multi-tenant medical office building in Carmichael, has sold to Dylan Investment Properties for an undisclosed sum. The 52,677-square-foot building sits adjacent to the 370-bed Mercy San Juan Medical Center just northeast of Sacramento. St. George underwent a multi-million dollar renovation in 2007, while Mercy San Juan recently executed a $125-million expansion. Dylan Investment was represented by Evan Kovac of NGKF Capital Markets. The seller was SA Challenger.
CARMICHAEL, CALIF. — St. George Medical Center, a multi-tenant medical office building in Carmichael, has sold to Dylan Investment Properties for an undisclosed sum. The 52,677-square-foot building sits adjacent to the 370-bed Mercy San Juan Medical Center just northeast of Sacramento. St. George underwent a multi-million dollar renovation in 2007, while Mercy San Juan recently executed a $125-million expansion. Dylan Investment was represented by Evan Kovac of NGKF Capital Markets. The seller was SA Challenger.
BRIGHTON, COLO. – The 78-bed Platte Valley Medical Center in Brighton has received a $92.9-million loan modification. The not-for-profit acute care hospital is located at 1600 Prairie Center Parkway. The hospital recently relocated to a new 50-acre campus that features nearly 300,000 square feet of space spread throughout three buildings. The loan carries a fixed interest rate of 2.98 percent for its remaining 19-year term. It was arranged for Brighton Community Hospital Association by Andleeb Dawood of Dougherty Mortgage’s Montana office through HUD’s Section 242 loan insurance program.
ELK GROVE VILLAGE, ILL. — Stage Equity Partners LLC has acquired a 52,126-square-foot medical office complex in Elk Grove Village, a northwest suburb of Chicago, for approximately $138 per square foot. The complex of four single-story interconnected buildings called Woodland Square was acquired in a direct off-market transaction from a local family partnership. The property is located in the the Alexian Brothers Medical Center campus, directly across the street from the 387-bed flagship hospital for the Alexian Brothers Health System. Fresenius North America and Midwest Sports Medicine anchor the property, which is 99 percent leased to 19 tenants.
KYLE, TEXAS — A joint venture between MedProperties Holdings LLC, Avail Healthcare Ventures and Trivant Healthcare is investing in the development of a new 40-bed freestanding rehabilitation hospital in Kyle. The hospital will be known as the Warm Springs Rehabilitation Hospital of Kyle. Avail and Trivant will jointly serve as the developer of the 54,400-square-foot hospital, which will located on a three-acre site at the intersection of Kyle and Seton parkways. The hospital will be fully leased by a joint venture partnership between Post Acute Medical LLC and Seton Healthcare. American National Bank of Texas is providing construction financing. The hospital will begin construction within 60 days and the construction period will last approximately one year.
SOUTHLAKE, TEXAS — Forest Park Medical Center Southlake, an approximately 142,000-square-foot hospital in Southlake, will open its doors May 29 and begin serving patients on June 10. The hospital will include 54 private inpatient rooms, including 10 VIP suites. The hospital will also include 12 fully integrated operating suites. The hospital will be part of the physician-owned and operated Forest Park Medical Center system.
COLLEYVILLE, TEXAS — Silver Oak Commercial Realty has arranged the sale of an 8,000-square-foot medical office building, located at 5408 Colleyville Blvd. in Colleyville. LeAnn Brown of Silver Oak represented the seller, HRT Properties of Texas, in the transaction.
BRIGHTON, COLO. – The 78-bed Platte Valley Medical Center in Brighton has received a $92.9-million loan modification. The not-for-profit acute care hospital is located at 1600 Prairie Center Parkway. The hospital recently relocated to a new 50-acre campus that features nearly 300,000 square feet of space spread throughout three buildings. The loan carries a fixed interest rate of 2.98 percent for its remaining 19-year term. It was arranged for Brighton Community Hospital Association by Andleeb Dawood of Dougherty Mortgage’s Montana office through HUD’s Section 242 loan insurance program.