CHATTANOOGA, TENN. — HFF has secured $11.3 million in refinancing for Atrium Medical Office Buildings, a two-building, 102,705-square-foot medical office complex in Chattanooga. The medical office complex is located a half mile from Erlanger Hospital East Campus. Michael Klein of HFF arranged the three-year loan through Colony Capital on behalf of Diversified Realty Ventures.
CHICAGO — The Missner Group has completed the construction of a three-story, 41,000-square-foot medical office building for the Illinois Bone & Joint Institute (IBJI) in Chicago. Debb Kosich LLC was the developer for the project. The Missner Group demolished an existing industrial warehouse and cleared the site for the new three-story healthcare facility. IBJI will occupy the entire third floor of the building. Construction of the 20,000-square-foot space included the addition of private offices, meeting and conference rooms, medical exam rooms, MRI and X-ray suites and medical storage space. The building is located at 2923 N. California Ave. Glen Missner, vice president, Drue Stoehr, senior project manager, and Bill Stransky, superintendent, led the construction team for The Missner Group. Stephen Rankin & Associates provided the architectural services.
PORT ST. LUCIE, FLA. — Martin Health System has opened Tradition Medical Center, a 201,184-square-foot acute care hospital in Port St. Lucie, after more than a decade of planning. The 90-bed hospital is located on the Tradition Center for Innovation campus. CBRE Healthcare provided project advisory solutions to Martin Health System during development. Other members of the project team include architect HKS, construction manager BBC, civil engineer CAPTEC Engineering Inc., structural engineer TRC Worldwide Engineering Inc., MEP engineer TLC, interior design firm InDesign Studio, security firm Tyco, signage firm Creative Sign Design and medical equipment provider Mitchell Planning. The new hospital will provide emergency services, intensive care, labor and delivery, neonatal intensive care, general and specialized surgery, inpatient oncology, MRI and CT services, clinical research and gastrointestinal endoscopy.
MORROW, GA. — Stage Equity Partners LLC, a Chicago-based healthcare real estate firm, has purchased a 38,000-square-foot medical office building in Morrow, a southern suburb of Atlanta, for $5.8 million. The property is located at 1000 Corporate Center Drive. Stage Equity acquired the property in a sale-leaseback transaction with Clayton Eye Centers, the primary tenant of the building. The building is fully leased, with Tenet Health Systems being an additional tenant. MB Financial Bank provided acquisition financing for the transaction.
BRAINTREE AND WOBURN, MASS. — Senior Housing Properties Trust has closed on the sale of two rehabilitation hospitals in Woburn and Braintree for $90 million. The company plans to gain more than $30 million from the sale. A joint venture comprised of Birmingham, Ala.-based The Sanders Trust LLC and Chicago-based Harrison Street Real Estate Capital LLC purchased the hospitals. The two hospitals sold are New England Rehabilitation Hospital in Woburn and Braintree Rehabilitation Hospital in Braintree. Senior Housing Properties Trust purchased the hospitals in 2002. Medicare pays a large majority of the revenues at the sold hospitals, according to Senior Housing Properties Trust. Reliant Hospital Partners LLC will operate the hospitals.
JACKSON TOWNSHIP, OHIO — Signet Development Ltd. has broken ground on the future headquarters for Spectrum Orthopaedics Inc. in Jackson Township, a southern suburb of Akron. The two-story facility, located at the corner of Frank Avenue and Applegrove Street, will span 44,000 square feet and include medical offices, an MRI suite, a physical therapy suite and a ambulatory surgery center. Spectrum will consolidate four of its existing offices in one location. The project is slated for completion in the fourth quarter of 2014. Signet Equity Partners and Signet Capital provided funding for the project. Ed Matuszak, president, led the Signet Equity Partners team that provided the equity. David Fumi, managing director, led the Signet Capital team that provided the debt.
PHOENIX — UHS of Phoenix LLC has acquired Quail Run, a 67,324-square-foot medical office building in Phoenix for $7.4 million. The Class A facility is located at 2545 West Quail Ave. near John C. Lincoln Deer Valley Hospital.The Universal Health Services Inc. subsidiary plans to convert the foreclosed building into a psychiatric hospital. The building was sold to UHS as an REO property. The seller was SW Loan F., a Delaware Limited Partnership. UHS was represented by Tim Dulany of Colliers International of Greater Phoenix. SW Loan was represented by Capital Asset Management.
PHOENIX — UHS of Phoenix LLC has acquired Quail Run, a 67,324-square-foot medical office building in Phoenix for $7.4 million. The Class A facility is located at 2545 West Quail Ave. near John C. Lincoln Deer Valley Hospital.The Universal Health Services Inc. subsidiary plans to convert the foreclosed building into a psychiatric hospital. The building was sold to UHS as an REO property. The seller was SW Loan F., a Delaware Limited Partnership. UHS was represented by Tim Dulany of Colliers International of Greater Phoenix. SW Loan was represented by Capital Asset Management.
FORT WORTH, TEXAS — Marcus & Millichap has brokered the $4.8 million sale of a 98-bed skiled nursing facility in Fort Worth. Operated as DFW Nursing & Rehab, the property is located at 900 W. Leuda St. Rod Llanos of Marcus & Millichap marketed the asset on behalf of the seller, a partnership, and also secured the buyer, a limited liability company.
WESTOVER HILLS, TEXAS — CBRE has brokered the sale of Warm Springs Rehabilitation Hospital of Westover Hills, a 40-bed rehabilitation hospital in suburban San Antonio. Post Acute Medical operates and holds a 17-year absolute net lease on the 50,000-square-foot facility, located at 10323 State Highway 151. Dallas-based developer Mohr Health LLC and its partner, Dallas-based MedProperties Holdings LLC, sold the property. Jecoah Byrnes, Chris Bodnar, Lee Asher and Scott Herbold of CBRE with Wynn Searle of Mohr represented the seller in the transaction. A private REIT purchased the asset.