MESQUITE — Dallas-based LIG Assets and Irving-based HQZ Partners have formed MedicalCampusGroup to fund, develop and jointly own the $250 million Peachtree Towne Center Project, a 60-acre mixed-use medical campus in Mesquite. Lawson & Associates are leading the fundraising efforts for the Peachtree Foundation, a nonprofit formed to support the new project. The project is designed to include a 400,000-square-foot hospital tower, 96,000 square feet of medical offices, a 40,000-square-foot clinic, retail stores, restaurants, loft-style residential units and a business class hotel. HQZ has already constructed a $3.7 million bridge that spans 480 feet.
ROME CITY, IND. — Fort Wayne, Ind.-based Momentum Properties LLC has acquired a 32,000 square foot Pent. Inc. building, located at 103 Warrener Dr. in Rome City, Ind. for an undisclosed amount. Alex Genova of CBRE represented the seller, Garrett-Ind.-based Group Dekko, Inc. Genova also represented the buyer. Future use of the building will be for a new medical manufacturer.
FULLERTON, CALIF. – Johnson Capital has arranged a $6-million loan secured by Harbor Medical, a 30,786-square-foot medical office building in Fullerton. The debt was provided by a local bank. The non-recourse loan features a fixed rate of less than 5 percent for seven years. There are no pre-payment penalties. The loan was arranged by Greg Richardson, managing director, and Scott Watson, vice president of Johnson Capital’s Irvine, Calif., office.
WEST ORANGE, N.J. — Cedar Knolls, N.J.-based Newmark Associates Commercial Real Estate Brokerage facilitated the $10.4 million sale of the 38,000-square-foot 475 Prospect Ave., a medical office building in West Orange. The property is currently 60 percent leased to tenants such as the Essex Specialized Surgical Institute, Omni Eyecare and Reproductive Medical Associates of New Jersey. Judith Tell Feldman of Newmark represented the seller, Prism Capital Partners, and the buyer in the transaction.
LONE TREE, COLO. – The 38,600-square-foot Renewal Medical Center in Lone Tree has been purchased by Baceline Investments, LLC from a lender after foreclosure for $6 million. This is about 55 percent of the property’s original loan value, according to an announcement by Baceline. The medical office building was built in 1984 and renovated in 2005. It is currently 65 percent occupied. Baceline intends to carry out further improvements to the building over the next year.
CHICAGO — HSA — Primecare has selected Premier Design + Build Group of the 22,500-square-foot Silver Cross Hospital & University of Chicago Medical Center Cancer Center tenant improvements. In addition to medial exam rooms and physician offices, construction includes a variety of cancer treatment procedure area including chemotherapy infusion bays, computed tomography imaging and radiation oncology via linear accelerator radiotherapy equipment. Completion is slated for spring 2012.
GRAND BLANC, MICH. — Ciena Healthcare has broken ground on the $8.5 million, 74-room Grand Blanc Care Center, a skilled nursing community located at 1330 Grand Pointe Ct. in Grand Blanc. The 68,000-square-foot facility will include short-term rehabilitation and long-term care suites, six bariatric rooms, a rehabilitative therapy room and a spa. Completion is slated for the summer of 2012.
ATLANTA — Atlanta-based McCarthy Building Cos. has been selected for the $42 million, 140,000-square-foot Kaiser Permanente's Glenlake Comprehensive Medical Center, located at 20 Glenlake Pkwy. in Atlanta. Construction will begin the second quarter of 2012 and will include the addition of 100,000 square feet to the existing facility, as well as the renovation of 40,000 square feet. With these improvements, the facility will be equipped to provide around-the-clock medical care and services. Completion is slated for March 2014.
OKLAHOMA CITY, OKLA. — The Dean McGee Eye Institute has opened its new $46 million, 78,000-square-foot research and clinical facility, located at 608 Stanton L. Young Blvd. in Oklahoma City. The new facility adjoins the existing facility, which houses the University of Oklahoma's Department of Ophthalmology.
COLUMBUS, GA. — The U.S. Department of Housing and Urban Development has committed to insure a $210 million mortgage loan to the 376-bed St. Francis Hospital, a hospital and 60-bed assisted living facility located at 2122 Manchester Expressway in Columbus. The loan, which is being provided through FHA's Section 242 Hospital Mortgage Insurance Program, will be used to renovate a portion of the existing facility, construct a new patient tower and medical office building, purchase new equipment and refinance a $50 million debt.