TAMPA, FLA. — Florida-based Stevens Construction has started construction of a multi-phase revitalization of Florida Hospital Tampa. The master project includes both interior and exterior updates to the building, located at 3100 E. Fletcher Ave. in Tampa. Exterior updates include 202,732 square feet of updated exterior vertical wall surface, the addition of more than 30,000 square feet of impact-rated glass windows on the South, Main and North Towers, and new lighting features. The interior renovation of 355 patient rooms will include new flooring and painting. Florida Hospital Tampa will remain operational throughout the entire project, which is set for completion in the summer of 2014.
GLENDALE, ARIZ. – The 103,216-square-foot Arrowhead Health Center in Glendale has sold to Archway Holdings Corp. for $20 million. The center, formerly known as Arrowhead Orchards Medical Office Building, contains two institutional-quality medical buildings that sit adjacent to the 217-bed Arrowhead Hospital. They are currently 65 percent leased. Archway was represented by Braxton Glass of Orion Investment Real Estate. The seller was Ventas REIT. Lucent Capital arranged the financing for the property’s acquisition and repositioning.
ATLANTA — AdCare Health Systems has agreed to sell six assisted living facilities in Ohio for $22.3 million to a long-term Ohio operator of assisted living facilities. The transaction is expected to close before the end of the year. The six communities include a total of 196 units and generate an estimated $8.9 million in gross annualized revenue. The care provider will use the proceeds from the sale to finance its ongoing mergers and acquisitions program, which is focused on skilled nursing acquisitions.
BRADENTON, FLA. — A joint venture between Northbrook, Ill.-based Middleton Partners LLC and Chicago-based Stage Equity Partners LLC, a healthcare real estate investment company, has acquired two medical office buildings totaling approximately 70,000 square feet in Bradenton. The buildings are more than 95 percent occupied, with approximately 60 percent of the space leased by a subsidiary of HCA Healthcare, one of Bradenton’s largest healthcare providers. A publicly traded healthcare REIT sold the properties.
ROSWELL, GA. — The three-story, 52,000-square-foot North Fulton Medical Plaza recently opened at 4500 Hospital Blvd. in Roswell across from the main entrance to North Fulton Hospital. Indianapolis-based Duke Realty developed, financed, owns and manages the Class A medical office building that houses North Fulton Hospital’s Pain and Spine Center and Roswell Imaging Center. The facility is set to receive LEED certification by the U.S. Green Building Council. ASD of Atlanta and Lyman Davidson Dooley of Atlanta served as the project architects and Brasfield & Gorrie’s Atlanta office was the general contractor.
WOODSTOCK, GA. — Northside Cherokee Towne Lake Medical Office Building broke ground recently at 900 Towne Lake Pkwy. in Woodstock, approximately 25 miles north of Atlanta. Northside Hospital will lease the entire four-story, 100,817-square-foot medical office building that will house outpatient healthcare services and physician practices. Indianapolis-based Duke Realty is developing the medical office building as well as a three-story, 350-space parking garage that will complement surface parking spaces. Duke Realty Towne Lake Development LLC, a wholly owned entity of Duke Realty LP, will own the medical office building when completed in August 2013. Lyman Davidson Dooley Inc. is the project architect and Brasfield & Gorrie is the general contractor.
CHALMETTE, LA. — St. Bernard Parish Hospital, the first full-service hospital built in greater New Orleans since Hurricane Katrina seven years ago, opened recently. The $91 million, three-story, 113,300-square-foot, 40-bed hospital and a three-story, 69,000-square-foot medical office building are located at 800 W. Judge Perez Dr. in Chalmette, five miles southeast of downtown New Orleans. St. Bernard Parish Hospital Service District (HSD) owns both facilities and Brookfield, Wis.-based Hammes Co. is the program manager for the publicly owned hospital that includes a 10-bed intensive care unit. The medical office building houses physician suites, outpatient rehabilitation and administrative offices. The facilities are located on an 11.5-acre site donated by Arlene and Joseph Meraux Charitable Foundation. The HSD has an option on another eight-acre donation from the foundation.
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.
TAYLOR, MICH. — Oakwood Healthcare has signed a lease for 4,400 square feet at 9870 Telegraph Road in Taylor. The company will use the space for a new physical therapy facility. Susan Acciaoli and Adam Goodman of Mid-America Real Estate-Michigan represented the landlord, NW-Taylor Farmer Jack, in the transaction. NAI Farbman represented the tenant.
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.