Healthcare

KALAMAZOO, MICH. — Marcus & Millichap has arranged the $30.4 million sale of Bronson LakeView Outpatient Center, a 100,321-square-foot medical office building in Kalamazoo. The property is fully occupied by Bronson Healthcare Group, which has nine years remaining on its lease and two five-year options to extend. The tenant is responsible for all maintenance, including roof and structure. The outpatient center, located at 451 Health Parkway, was a build-to-suit project completed in 2006. Gino Lollio and Scott Niedergang of Marcus & Millichap represented the seller, a private investor. They also represented the buyer, a non-traded REIT based in New York City.

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PARKERSBURG, W. VA. — Beech Street Capital has provided a $10.2 million HUD 232/223(f) loan to refinance Worthington Nursing & Rehabilitation Center, a 105-bed skilled nursing facility in Parkersburg. The property is located in northwest West Virginia and has access to U.S. Highway 50 and Interstate 77. The transaction was originated by Joshua Rosen of Beech Street Capital in the company’s Chicago office.

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WAYNE, NEB. — Less than a year after groundbreaking, Darland Construction has completed an expansion project at Providence Medical Center in Wayne. The three-phase project included construction of a 25,000-square-foot addition for a new physical therapy and wellness center. Construction also included a 3,500-square-foot addition to expand the oncology outpatient facility and remodeling of the existing main lobby.

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DESOTO — Griffin-American Healthcare REIT II has acquired the 30,000-square-foot DeSoto Medical Office Building, located in DeSoto. The property is fully leased to four tenants, the largest of which is Texas Health Resources. The REIT purchased the property from Caddis Partners, using $5.5 million in borrowings through Bank of America and cash on hand. The transaction was part of a $59.6 million portfolio purchase that included healthcare properties in Tennessee.

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FRANKENMUTH, MICH. — Sabre Health Care REIT, based in Irvine, Calif., has acquired a 249-unit independent living facility in Frankenmuth for $26.5 million. Concurrent with the purchase, Sabre entered into a triple-net lease with affiliates of Unified Acquisitions and Development. The lease has an initial term of 10 years with two, five-year renewal options.

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ESCANABA, MICH. — The new, $11 million Doctors Park medical office building has opened in Escanaba. The 43,145-square-foot property is located on a 5.5-acre site at 710 S. Lincoln Road. The facility replaces Marquette General's smaller Doctors Park building near Seventh Avenue, and allows the health system to expand services to Delta County residents. The medical office features a laboratory, home infusion, oncology, primary care, imaging, a blood donor center, administrative offices and other services. Duke Realty, which developed and financed the project, will own and manage the building. BSA Life Structures was the architect.

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