OCALA, FLA.— William Karns Enterprises has been selected to develop the $21 million, 120-bed Brentwood at Fore Ranch, an assisted living and memory care facility in Ocala, Fla. Construction will begin sometime this month and is scheduled for completion in 212. National Heath Investors provided a $2.5 million, three-year loan to develop the project, which will be managed by Senior Management Advisors.
PHILADELPHIA — Grubb & Ellis Healthcare REIT II has purchased a five-property portfolio of skilled nursing facilities located throughout Philadelphia for $75 million. The portfolio, which totals more than 392,000 square feet and 1,200 patient beds, is leased to Mid-Atlantic Health Care through 2026.
LAKELAND, FLA. — Atlanta-based Heery International has finished a 27,000-square-foot expansion at the Lakeland Regional Cancer Center in Lakeland. The project included additional physician offices, 26 new exam rooms, a special procedures center, light-filled lobby and waiting areas, a state-of-the-art high-dose radiation suite, two cystology rooms, urodynamics room, resource library, boutique, healing gardens and a cafe. Heery served as architectural, engineering, interior design and environmental consultant for the expansion.
CARROLLTON – A local Carrollton physicians group has acquired a 1.07-acre tract of land at the northwest corner of Hebron Parkway and Huffines Boulevard in Carrollton for future development. The group plans to construct a medical office complex that will be completed by early 2012. Coppermark Bank, represented by Carter Kendall of Henry S. Miller Brokerage’s Dallas/Fort Worth land division, sold the parcel. Rebecca Cucovatz of Legacy Premier Group represented the physicians group.
OAKLAND, CALIF. – The 98,600-square-foot Broadway-Webster Medical Plaza in Oakland was acquired by Investcorp Real Estate for about $30 million. The building was sold by affiliates of ScanlanKemperBard, which will retain an ownership interest. It will also continue to manage and operate the facility. As part of the agreement, the new venture will make significant upgrades to the facility over the next 12 months, including seismic retrofitting and fire-life safety improvements. Broadway-Webster Medical Plaza currently has 46 tenants. It has maintained an average occupancy of 90 percent for the past 10 years.
NEW YORK CITY — ProMed Properties has purchased a fee interest in a medical office condominium, located at 345 E. 37th St. in New York City, for $31 million. The 81,000-square-foot condominium comprises three floors of the 57-story Corinthian apartment building, which contains more than 860 residential condo units. ProMed financed the acquisition with a new 7-year, $20 million loan at a 4.59 percent interest rate and cash on hand.
FORT STEWART, GA. — The Southeast Division of McCarthy Building Cos. has been selected by The U.S. Army Corps of Engineers, Savannah District, as the construction manager for the renovation of Winn Army Hospital in Fort Stewart. The renovation, designed by Leo A Daly, includes a 65,000-square-foot addition and a 1,000-square-foot renovation to the existing hospital. The project will pursue LEED Silver certification. Construction will begin in July with estimated completion in December 2012.
MICHIGAN CITY, IND. — Franciscan St. Anthony Health has selected HSA PrimeCare to develop a new 19,593-square-foot cancer treatment center at the hospital system's Michigan City outpatient campus. The single-story facility will feature a radiation oncology center with a linear accelerator and a PET/CT scan, an infusion center, and office space. Design Organization is the project architect and Tonn & Blank Construction is the general contractor.
MESQUITE — LIG Assets, a provider of funding and financing for business real estate projects, has an agreement with HQZ Partners, LP to fund, develop and jointly own a project called Peachtree Towne Center, an estimated $250 million, 60-acre mixed-use medical campus in Mesquite. The agreement includes funding to complete Phase I of the four phase project. The project is subject to an economic development agreement from the City of Mesquite.
JOHNSON CITY, TENN. — Marcus & Millichap has brokered the sale of a 60,600-square-foot, four-story medical office building, located at 701 Med Tech Pkwy. in Johnson City, for $16.1 million. Anthony Lunceford of the firm's Nashville, Tenn., office represented the sellers and Joseph Massa, also in Nashville, represented the buyer, a regional private equity firm. Tenants include the East Tennessee Ambulatory Surgical Center, East Tennessee Brain & Spine and John Lawson Surgical.