CHESTERFIELD COUNTY, VA. — Ellwood Properties has purchased 4.3 acres of land from Idlewood Properties for $525,000. The land, located in the Waterford Corporate Center at 13506 Tredegar Lake Parkway in Chesterfield County, will be used for a medical office development. H. Merrill Plaisted and Jason Guillot of Thalhimer’s Richmond, Va., office brokered the transaction.
DALLAS — Dallas-based The Cirrus Group has secured $16.78 million in construction financing for Reliant Rehabilitation Hospital, a planned 65,000-square-foot medical facility that will be located at the intersection of North Central Expressway and Northaven Road in Dallas. The rehab center will include 40 beds devoted to inpatient rehabilitation and 20 beds devoted to skilled nursing. The facility will be operated by Reliant Healthcare. The project architect is Perkins + Will and the general contractor is Hill & Wilkinson. Construction is expected to take 11 months once groundbreaking occurs. Chris Godfrey of The Cirrus Group originated the financing on behalf of an affiliate of The Cirrus Group. The lender was the Dallas office of Colonial Bank. Terms of the financing were not disclosed.
MONROE TOWNSHIP, N.J. — Cranbury, N.J.-based Sweetwater Construction Corp. has completed a expansion and renovation project at Saint Peter’s Adult Day Center, located at 200 Overlook Pass in Monroe Township. The center was expanded from 5,000 to 8,200 square feet. Additional construction consisted of a new parlor with a fireplace, an activity room, a theater, food service facilities, two dining areas, a treatment room, a quiet room, offices, an employee lounge, a hair salon, a game room, and bathrooms. The project architect was Philadelphia-based Lighthouse Architecture. The project is part of Saint Peter’s Healthcare System; its purpose is to provide nursing and medical care in a home-like setting for people that are physically or cognitively challenged.
SAN ANTONIO — Marcus & Millichap has completed the sale of Stoneterra Medical Plaza, a 57,211-square-foot medical property located at 150 E. Stoneterra Blvd. in San Antonio, for $13.7 million. The three-story building was constructed in 2006. It is fully occupied, with San Antonio Orthopaedic Group as the primary tenant. The medical center is situated near North Central Baptist Hospital, Baptist Regional Children’s Center, Methodist Ambulatory Surgery Center, Laurel Ridge Treatment Center, North Central Urgent Care and Spine Hospital of South Texas. Alex Zylberglait with Marcus & Millichap’s National Office & Industrial Properties Group and Ryan Shaw with the firm’s Miami office represented the seller, a locally based medical group, and the buyer, a New York-based group. Marcus & Millichap’s Dallas office provided local representation.
DECATUR, GENEVA AND ST. CHARLES, ILL. — Chicago-based Beacon Realty Capital has arranged two loans totaling $35.9 million. In the first transaction, the firm secured $20.6 million in permanent financing for 13 medical office buildings located in Decatur. Terms of the loan include a 5-year term with a fixed interest rate. The lender was a national bank. In addition, Beacon arranged a $15.3 million permanent loan for the refinancing of an eight-property retail and office portfolio located in Geneva and St. Charles. The loan carries a 5-year term, a fixed rate and was arranged through a regional bank. The borrowers in both transactions were not disclosed.
HENDERSON, NEV. — MedCapital Group has provided $7.8 million in permanent financing for a behavioral care facility in Henderson. Terms of the loan include a fixed interest rate of 6.50 percent and a 5-year term with a 30-year amortization. The 25,000-square-foot behavioral treatment center is located in a medical service area of Henderson. Todd Tidmore of MedCapital Group secured the financing on behalf of the undisclosed borrower.
FIRM COMPLETES 45,000-SQUARE-FOOT MEDICAL OFFICE BUILDING ORLANDO, FLA. — A 45,000-square-foot medical office building, designed by Orlando-based HuntonBrady Architects, has delivered in the Avalon Park area of Orlando. Tenants include Florida Hospital Group and private physicians. The Mentor Group also houses its Center for Comprehensive Services, a treatment center for brain and spinal cord injuries, in the building. The property is located on Avalon Park West Boulevard.
ARLINGTON, TEXAS — BremnerDuke Healthcare, a division of Indianapolis-based Duke Realty Corp., has commenced development of Baylor Orthopedic & Spine Hospital of Arlington (BOSHA), a 55,129-square-foot medical facility located at 721 W. Highlander Blvd. in Arlington. Situated on 4.4 acres, the two-story facility features a 24-bed inpatient surgical center, six operating rooms, a 24-hour emergency department, diagnostic imaging equipment and administrative offices. The facility is being developed by BremnerDuke in conjunction with Arlington Orthopedic Associates. It will be owned by BremnerDuke Healthcare Real Estate and AOA Arlington Development LP, and will be leased to BOSHA. The general contractor is Dallas-based Hill & Wilkinson and the project architect is locally based Ascension Group Architects. Completion is scheduled for the first quarter of 2010. BOSHA is owned by a joint venture between Baylor Health Care System, United Surgical Partners International and Arlington Orthopedic Associates.
TAMPA, FLA. — University Community Health has opened a 48,000-square-foot long-term acute care facility in the Connerton Commerce Park. The one-story property is located on U.S. Highway 41 in Tampa. Features include 50 private rooms, an operating room, a chapel, a gift shop and a dining area. Nashville-based Gobbell Hays Partners designed the project. When completed, Connerton Commerce Park will encompass 190,000 square feet of office, industrial and medical space on 38 acres.
POMONA, CALIF. — Pacific Medical Building is developing an outpatient care center for the Western University of Health Sciences in Pomona. Located on East Second Street, the three-story, 68,000-square-foot Patient Care Center will accommodate multi-disciplinary teaching, clinics and office space. Additionally, the center will feature a pharmacy, optometry clinic, an outpatient dental clinic and an attached seven-level parking structure. Completion is slated for this fall.