BONHAM, TEXAS — Clay Meadows of CAM Capital Co. has secured a $3.17 million loan for Red River Regional Hospital. The 25-bed property is located in Bonham. Synergy Bank funded the 25-year loan, which carries an 80 percent loan guarantee from the USDA.
ALTAMONTE SPRINGS, FLA. — Physicians Associates has purchased a 24,102-square-foot office from an undisclosed seller for $3.4 million. The property is located at 235 N. Westmonte Drive in Altamonte Springs. Jason Bantel of Realty Capital represented the buyer. The firm's Austin Caruso, Quentin Caruso and Brian Caruso represented the seller.
ROCK ISLAND, ILL. — Cambridge Realty Capital Cos. has closed an $11.9 million FHA-insured HUD first mortgage loan for St. Anthony’s Nursing and Rehabilitation Center in Rock Island. The loan will be used to refinance the property, which offers 130 skilled beds and 24 board-and-care beds. The fully amortized, 40-year term loan was underwritten by Cambridge Realty Capital Ltd. of Illinois utilizing HUD’s Section 232 MAP funding program.
LACOMBE, LA. — Grubb& Ellis Healthcare REIT II has agreed to buy the 34,000-square-foot Lacombe Medical Office Building from a private party for an undisclosed price. The property is located at 64030 Highway 4343 in Lacombe. The building is fully leased to five tenants specializing in cardiac surgery.
BALTIMORE, MD. —Healthcare Trust of America has signed a purchase agreement with an undisclosed party for the 101,400-square-foot Triad Technology Center. The buyer will purchase the property, located on the Johns Hopkins University Bayview Medical Center Research Campus in Baltimore, for $29.25 million. The space is fully leased to the federal government and houses the National Institute on Aging's Intramural Research Program, the National Institute on Drug Abuse and the National Human Genome Research Institute.
MIAMI — Alex Zylberglait and Ryan Shaw of Marcus & Millichap's Miami office have brokered the $3.75 million sale of Square One Center between two private parties. The 17,600-square-foot medical office building is located at 20880 W. Dixie Highway in Miami. Square One was built in 1999 and houses numerous NNN-leased medical tenants.
CHICAGO — Cambridge Realty Cos. has closed a $12.9 million FHA-insured HUD first-mortgage loan for the refinancing of Alden Village North in Chicago. The skilled pediatric facility offers 128 beds. The fully amortized loan carries a 40-year term and utilized HUD’s Section 232 MAP funding program.
SAN JOSE, CALIF. — Cassidy Turley BT Commercial has brokered the $24 million sale of the more than 13-acre former San Jose Medical Center property located at 725 E. Santa Clara St. in downtown San Jose. Purchasing the property from San Jose Hospital L.P., Santa Clara County will demolish approximately 300,000 square feet of existing medical buildings, while one 30,000-square-foot facility will be left to serve as an urgent-care clinic. Cassidy Turley BT Commercial’s Drew Arvay and Keith Claxton represented the seller in the transaction.
SEBRING, FLA. — Fort Myers, Fla.-based Stevens Construction has broken ground on the 33,636-square-foot Bud and Donna Somers Hospice House and Resource Center at 1110 Hammock Road in Sebring. The 16-bed facility is being built for Good Shepherd Hospice. Features include a children's recreation area, a kitchen, a chapel and a library. Delivery is expected early next year.
BEACHWOOD, OHIO — Grubb & Ellis Healthcare REIT II has entered into an agreement to acquire Parkway Medical Center, a two-building medical office campus in Beachwood. Located at 3609 and 3619 Park East Drive, the campus features a 51,000-square-foot building, which was built in 1972, and a 37,000-square-foot building that was constructed in 1987. Since 2004, approximately $1.6 million of capital improvements have been completed at the center. The facility is currently 87 percent leased to 35 tenants, including University Hospital of Cleveland, Rapid Medical Research, The MetroHealth System and ID Consultants. The seller and acquisition price were not disclosed.