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.
PALOS HEIGHTS, ILL. — Palos Community Hospital is developing an estimated $160 million Surgery and Bed Pavilion on the hospital's campus in Palos Heights. The 427,500-square-foot addition will offer 192 private inpatient rooms, perioperative services, a laboratory, a pharmacy and patient-support functions. Matthei & Colin Associates is providing architectural services for the project.
KINGWOOD — The Kingwood Diagnostic & Rehabilitation Center, a two-story, 40,733-square-foot medical office building located near Kingwood Medical Center has opened. Located at 22751 N. Professional Dr. in Kingwood, the $9 million project was developed through a joint venture between Rowland Cos. and Ensemble Real Estate Services on behalf of the owner, BRB/E Building One LLC. The building is more than 90 percent leased to 11 individual practices, nine of which are part of Diagnostic Affiliates of Northeast Houston.
SYLVA, N.C. — Grubb & Ellis Healthcare REIT II has acquired Sylva Medical Office Building, a three-story property located on the campus of Harris Regional Hospital in Sylva. Located at 98 Doctors Dr., the property offers 45,000 square feet of Class A single-tenant medical office space. Built in 2010, the property is long-term leased until 2025 to Harris Regional Hospital. The property was acquired from CDP-Sylva LLC, which was represented by Doug Connell of Grubb & Ellis' Atlanta office. Grubb & Ellis Healthcare REIT II financed the acquisition using $11.4 million in borrowings under its line of credit with Bank of America N.A. and cash proceedings received from its offering.
WHEATFIELD, N.Y. — Calamar has commenced development of the first building to be constructed as part of a new medical campus within The Woodlands Corporate Center East in Wheatfield. The project consists of an 8,000-square-foot building that will be operated by Apollo Healthcare as a full-service renal center. At full build-out, the medical campus will contain 250,000 to 400,000 square feet of medical space, representing a $50 to $75 million investment. Woodlands Corporate Center East totals 120 acres and will be able to accommodate healthcare, office, flex and residential space.