STUART, FLA. — Amore Dementia Care, which provides its residents with services such as exercise classes designed to promote muscle group stimulation and cognitive function, has sold for approximately $2.4 million. The property is located at 1634 S. Kanner Hwy. in Stuart. Growth Capital Investments LLC purchased the healthcare property from Soleil Management Group LLC, which has operated the 19-unit, 38-bed facility since it was built in 2000. Trusted Seniors Care Inc., a seniors housing management company, will handle the day-to-day operations. Kenneth Carriero and Damien Carriero of Colliers National Seniors Housing Group facilitated the sale.
ST. LOUIS — McGrath & Associates has completed construction of a $1.8 million bone marrow transplant center at Saint Louis University Hospital. Located within the Saint Louis University Cancer Center, the 9,900-square-foot facility, designed by Fox Architects, is the first comprehensive outpatient bone marrow transplant center in the region. The center was constructed in an existing hospital space, and the expected open date is unknown.
GREENWICH, CONN. — Washington Trust, a Rhode Island-based bank, has provided a $2.9 million mortgage to 80 Mason Street LLC for the purchase of a 6,324-square-foot medical office building in Greenwich. The property is located at 80 Mason St.
AUSTIN, TEXAS — Stan Johnson Co. has arranged the $30.64 million sale of a new 66,095-square-foot, 60-bed rehabilitation hospital located in Austin. The hospital sits near St. David's South Austin Medical Center, South Austin Cardiac Rehab, Austin Regional Clinic and Texas Oncology South Austin. The hospital is fully leased to Reliant Hospital Partners. Toby Scrivner, Jeff Matulis and Karen Vinsko of Stan Johnson Co. represented the seller, a Dallas-based developer. The buyer was an institutional entity.
FORT WORTH, TEXAS — Midtown Medical, a 60,000-square-foot medical office property, has broken ground at the corner of West Rosedale and Forest Park Boulevard in Fort Worth's Medical District. The medical office property is a component of Midtown, a mixed-use development project that includes Southwest Bank, Hilton Garden Inn and the site of the new Homewood Suites by Hilton, which is set to open this summer. Raymond Management Co. is the developer of Midtown. Sarah Teel of San Antonio-based MSL Investments is handling pre-leasing responsibilities for Midtown Medical.
CHARLESTON, S.C. — Love Funding, a provider of FHA multifamily and healthcare financing, has closed a $361.4 million loan modification for the Medical University Hospital Authority (MUHA) in Charleston. MUHA, a division of the state of South Carolina, owns and operates the Medical Center of the Medical University of South Carolina (MUSC Health). The transaction, which was secured through the U.S. Department of Housing and Urban Development’s Section 242 loan insurance program, is the third-largest hospital loan in the agency’s history. Steven Hunt of Love Funding secured the loan, which was underwritten by Matthew Andrea of Love Funding. MUSC Health is a 696-bed teaching hospital and was recognized in 2012 by U.S. News & World Report as “One of America’s Best Hospitals.”
SAN CLEMENTE, CALIF. — Oceanview Medical Center in San Clemente has sold to Accretive Realty Advisors for an undisclosed sum. The campus contains a 30,913-square-foot medical office building that is situated across from the San Clemente campus of Saddleback Memorial Medical Center. The center is anchored by MemorialCare Health, which houses several affiliated practice groups. Accretive Realty represented itself in this transaction, while the unnamed seller was represented by Evan Kovac, Garth Hogan, Chris Stai and Kyle Kovac of Newmark Grubb Knight Frank's Global Healthcare Services Group. Hogan, along with John Scruggs, will serve as Accretive’s exclusive leasing agents.
BEL AIR, MD. — Washington Real Estate Investment Trust (WRIT) has sold the 33,921-square-foot Plumtree Professional Center, a single-story medical office building, for $8.75 million. The Atkins Companies, which is based in New Jersey, purchased the healthcare property at 104 Plumtree Rd. in Bel Air. Jonathan Carpenter and James Wellschlager of Cassidy Turley’s Capital Markets Group represented the seller.
NEEDHAM, MASS. — Tryko Partners has purchased Briarwood Healthcare & Rehabilitation Center, a 120-bed skilled nursing facility at 150 Lincoln St. in Needham for $12.5 million. The property includes long-term care and Alzheimer's units, with an onsite dining room, kitchen, laundry room, beauty salon, offices and a conference room. The seller was Walter Collins, a long-time owner and administrator. Jack Shea and John Davison of Rockland Trust arranged the financing for the sale.
SAN CLEMENTE, CALIF. — Oceanview Medical Center in San Clemente has sold to Accretive Realty Advisors for an undisclosed sum. The campus contains a 30,913-square-foot medical office building that is situated across from the San Clemente campus of Saddleback Memorial Medical Center. The center is anchored by MemorialCare Health, which houses several affiliated practice groups. Accretive Realty represented itself in this transaction, while the unnamed seller was represented by Evan Kovac, Garth Hogan, Chris Stai and Kyle Kovac of Newmark Grubb Knight Frank's Global Healthcare Services Group. Hogan, along with John Scruggs, will serve as Accretive’s exclusive leasing agents.