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.
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.
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.
LIVERPOOL, N.Y. — Beech Street Capital has arranged a $6.4 million HUD 232/223(a)(7) loan for the refinancing of Keepsake Village at Greenpoint, a 54-bed assisted living facility in Liverpool. Joshua Rosen of Beech Street Capital originated the 35-year loan.
LANCASTER — Grapevine-based SQN Realty Finance has acquired a 16,789-square-foot medical office building, located in Lancaster. The property is currently 36 percent leased to DaVita Dialysis. The property had been lender-owned since May 2011. Dallas-based Dominus Commercial will manage the center, as well as handle leasing.
DALLAS — Methodist Dallas Medical Center has broken ground on the new six-story, $108 million Charles A Sammons Trauma and Critical Care Tower, located in Dallas. The 248,000-square-foot trauma and critical care center will include 58 emergency room beds, six trauma suites, eight surgical suites and a 36-bed critical care unit. The hospital will also have the ability to expand to 11 stories for future growth. The construction will be supported by a $20 million BrightER campaign. Completion is slated for summer 2014.
EASTLAKE, OHIO — Remedi SeniorCare has acquired Cornerstone Pharmacy, further expanding Remedi's presence in the Midwest. Based in Eastlake, Cornerstone provides pharmacy services to long-term care facilities. Baltimore-based Remedi did not disclose how much it paid for Cornerstone, which has about 90 employees. Remedi now serves more than 15,000 long-term care residents from the mid-Atlantic to the Midwest. The 90 Cornerstone employees will become part of Remedi.
CHICAGO — Beech Street Capital has arranged a $5.6 million HUD 232/223(a)(7) loan for the refinancing of Peterson Park Healthcare Center, a 188-bed skilled nursing facility in Chicago. Joshua Rosen of Beech Street arranged the 17.5-year loan, which will enable the borrower to keep the same term and amortization period as the existing loan.
GAINESVILLE, FLA. — Charles Perry Partners has been selected to construct the $30.3 million, 90,000-square-foot University of Florida Harrell Medical Education Building, located in Gainesville. The facility, which will be the medical school's first freestanding building, will serve as a focal point for integration and program development for all primary care educational activities in the College of Medicine. Groundbreaking on the four-story building is scheduled for spring 2013, with completion slated for October 2014.
GULFPORT, MISS. — The Naval Facilities Engineering Command has selected Satterfield & Pontikes (S&P) Construction to build a 57,000-square-foot Branch Health Clinic, located in Gulfport. The Navy patient care facility will replace the base's 42-year-old health clinic. S&P will demolish two buildings and a manual car wash to build the property, which is designed to achieve LEED Silver certification. Completion is slated for fall 2014.