HOUSTON – Hardin Construction Co. has topped out the Vintage Medical Office Building at St. Luke’s Hospital in Houston. The medical office building, owned by Brookfield, Wisc.-based HC Vintage MOB I, LLC, a partnership between Hammes Co. and St. Luke’s Partnership, is a three-story, 39,749-square-foot project with a 176-space parking lot. It will be completed in April.
CARY, N.C. — Healthcare Trust of America has purchased The Medical Park of Cary, a nine-building medical office park in Cary. The 151,000-square-foot park is situated on the WakeMed hospital campus. The property sold for $28 million. Paul Zeman of Bull Realty brokered the transaction. The seller was not disclosed.
LAWTON, OKLA. AND ENNIS, TEXAS — Grubb & Ellis Healthcare REIT II has acquired Lawton Medical Office Building Portfolio, a two-property medical office building portfolio on the campus of Southwestern Medical Center in Lawton, Okla., and Ennis Medical Office Building, a 30,000-square-foot medical office in Ennis, Texas. Located at 5604 and 5606 SW Lee Blvd., the Lawton Medical Office Building Portfolio is comprised of two three-story Class A single-tenant facilities totaling approximately 62,000 square feet. The buildings are fully leased to the medical center until 2023, with options that could extend the leases until 2033. The Oklahoma medical portfolio was acquired from Southwestern MOB I, LLC. Built in 2008, Ennis Medical Office Building is a single-story, multi-tenant medical office building located adjacent to Ennis Regional Medical Center, a 60-bed acute-care facility serving the Dallas suburb. It is 95 percent leased to tenants that include a primary medical services provider, an outpatient surgery center and an internal medicine practice. The Ennis medical building was acquired from New Bardwell Partners, LP, which was represented by Jim Moloney of Cain Brothers.
REDDING, CALIF. — Marcus & Millichap has brokered the $2.6 million sale of the 32,600-square-foot Redding Physicians Center, a medical office property located adjacent to Shasta Regional Medical Center Hospital at 1441 Liberty Street in downtown Redding. The buyer, Redding Rancheria, plans to open a clinic at the location, which features a state-of-the-art surgery center, a pharmacy and 15 physician suites. Marcus & Millichap’s Russ Moroz represented the seller, a limited liability company of local physicians and surgeons, in the transaction.
ATLANTA — Healthcare Trust of America has purchased a multi-market hospital portfolio, with assets located in Georgia, Florida and Texas. The more than 217,000-square-foot, 209-bed portfolio includes four long-term acute-care hospitals, which was leased and operated by Select Medical Corp. The combined purchase price was approximately $102 million. Lee Asher and Chris Bodnar of CB Richard Ellis' Healthcare Capital Markets Group represented the seller, Inland American Real Estate Trust, in the transaction.
AUGUSTA, GA.; EDGEWOOD AND TALLAHASSEE, FLA.; AND CARROLLTON, TEXAS — Healthcare Trust of America (HTA) has acquired four long-term acute care hospitals (LTACH) in Georgia, Florida and Texas for $102 million. Each property is leased to and operated by Select Medical Corp. The assets include Select Augusta LTACH, a 71,900-square-foot, 80-bed facility in Augusta; Select Orlando LTACH, a 48,598-square-foot facility in Edgewood; Select Tallahassee LTACH, a 46,682-square-foot, 29-bed facility in Tallahassee; and Select Dallas LTACH, a 50,530-square-foot, 60-bed facility in Carrollton. Additional terms of the transaction were not released.
HUMBLE — Grubb & Ellis Healthcare REIT II has acquired Humble Surgical Hospital, a Class A, single-story, 30,000-square-foot surgical hospital located at 1475 FM 1960 E. Bypass in Humble. It features six operating rooms and two procedure rooms and is fully leased to Humble Surgical Hospital, LLC for 15 years under an absolute net lease. The property was acquired from Humble REP, LLC, an unaffiliated third party represented by Henry Hagendorf and Beth Young of Grubb & Ellis' Houston office.
CORPUS CHRISTI — McShane Development Co. has been selected by the U.S. Department of Veterans Affairs for the development of its new 32,950-square-foot Corpus Christi Veterans Affairs Specialty Care Outpatient Clinic, located at Bear Lane and South Padre Island Drive within the 100 South Padre Island Business Park in Corpus Christi. The single-story medical facility will enhance services already provided at the existing Corpus Christi Outpatient Clinic at 5283 Old Brownsville Rd. Groundbreaking for the new clinic will take place in spring 2011 with completion slated for May 2012, and it will be designed and constructed to meet LEED Silver standards. The design-build team for the medical facility consists of Cadence McShane Construction Co. and Rees Associates, Inc.
SPRINGFIELD, GA. — The U.S Department of Housing and Urban Development (HUD) has committed to insure a $31 million mortgage loan to Effingham County Hospital Authority in Springfield. The loan will be used to finance the construction of an addition and renovation to the area's existing hospital. The addition will include a new emergency room, new inpatient and outpatient surgery areas, a new laboratory and new imaging departments. Additionally, the loan will be used to renovate the existing Alzheimer's unit. The loan was financed through FHA's Section 242 Hospital Mortgage Insurance Program.
LAKEWAY — San Diego-based Pacific Medical Buildings (PMB) and Nashville, Tenn.-based RD Development Partners (RD) are partnering with Franklin, Tenn.-based Surgical Development Partners and a group of local Lakeway physicians and investors, for the development of Lakeway Regional Medical Center, scheduled to open in April 2012. Located at RR 620 and Flintrock Trace in Lakeway, Phase I includes an eight-story, 270,000-square-foot hospital, a parking structure and a helipad. The hospital will have 103 inpatient beds and a Level 3 trauma center with 23 emergency room beds. A surgery department with six operating rooms, two endoscopy rooms and two pain management rooms will also be housed at Lakeway Regional Medical Center. Credit Suisse is providing construction and permanent loan financing, backed by the U.S. Department of Housing and Urban Development's (HUD) Federal Housing Administration (FHA) Section 242 Hospital Mortgage Insurance program, and Hoar Construction is the project's general contractor.