Healthcare

McCarthy Breaks Ground on $52M Expansion, Renovation Project for Saint Luke’s East Ambulatory Surgery Center in Missouri

by Kristin Harlow April 19, 2023

LEE’S SUMMIT, MO. — McCarthy Building Cos. has broken ground on a $52 million expansion and renovation project for Saint Luke’s East Ambulatory Surgery Center in the Kansas City suburb of Lee’s Summit. The center was built in 2006 to meet the growing needs of eastern Jackson County. Located at 120 NE Saint Luke’s Blvd., it is part of Saint Luke’s Health System. The 113,913-square-foot project will create additional space needed to enable offsite medical-related services to move back onto the main East campus. Work includes both the renovation of the existing two-story, 52,000-square-foot ambulatory surgery center and clinical space, as well as building a new 62,000-square-foot third-floor addition above the existing facility. Completion is scheduled for the end of 2024.

April 19, 2023

Acquisitions Healthcare Indiana Midwest

Echo Real Estate Capital Acquires 57,000 SF Medical Office Building in Suburban Indianapolis

by Kristin Harlow April 19, 2023

GREENWOOD, IND. — Echo Real Estate Capital has acquired a 57,000-square-foot medical office building in the Indianapolis suburb of Greenwood for an undisclosed price. Located at 555 County Line Road, the multi-tenant property is anchored by Community Health and Goodman Campbell Brain & Spine. The building is currently 64 percent occupied. Echo plans to undertake several capital improvements, including a lobby renovation, roof replacement, parking lot repairs and landscaping upgrades. Wintrust Bank provided acquisition financing. The transaction marks Echo’s fourth acquisition in the submarket.

April 19, 2023

California Healthcare Loans Multifamily Seniors Housing Western

CFG Provides $10.9M HUD Refinancing for Skilled Nursing Facility in California

by Jeff Shaw April 18, 2023

CALIFORNIA — Capital Funding Group (CFG) has provided $10.9 million in financing, which supported the refinancing of an existing bridge loan, executed by CFG, into a HUD loan. The refinancing is for a 99-bed skilled nursing facility in California. Further details were not disclosed. Capital Funding Group’s Tim Eberhardt and Ava Julio originated the transaction for the company.

April 18, 2023

Acquisitions Healthcare Multifamily New Mexico Seniors Housing Western

ESI Brokers $16.5M Sale of Skilled Nursing Community in New Mexico

by Jeff Shaw April 17, 2023

NEW MEXICO — Evans Senior Investments (ESI) has arranged the sale of a skilled nursing community on behalf of a Southwest regional operator. The asset is located in the northwestern part of New Mexico and included 101 skilled nursing beds. Despite the community being located in a rural market, the asset maintained an occupancy average of 83 percent during the marketing process. Upon closing, the community was 95 percent occupied. A West Coast-based group acquired the asset for $16.5 million or $163,366 per bed. It is the buyer’s first property in New Mexico. Details regarding the seller were not disclosed.

April 17, 2023

California Healthcare Leasing Activity Office Western

Progressive Arranges 5,020 SF Dental Office Lease at Hesperia Square in California

by Jeff Shaw April 17, 2023

HESPERIA, CALIF. — Progressive Real Estate Partners has arranged a 5,020-square-foot lease for West Coast Dental (WCD) at Hesperia Square in Hesperia, a city in San Bernardino County. WCD has signed a 10-year lease at the property, which Vallarta and Dollar Tree anchor. Albert Lopez of Progressive represented the landlord in the negotiations. Chris Beauchamp of Lee & Associates represented the tenant.

April 17, 2023

Acquisitions Healthcare Illinois Midwest

Echo Real Estate Capital Acquires 7,550 SF Medical Office Building in Morton Grove, Illinois

by Kristin Harlow April 17, 2023

MORTON GROVE, ILL. — Echo Real Estate Capital has acquired a 7,550-square-foot medical office building located at 6131 W. Dempster St. in the Chicago suburb of Morton Grove. The purchase price and seller were undisclosed. The single-tenant property is leased to Advocate Health Care. The facility is staffed by a mix of primary care physicians and one cardiologist that have operated out of the building for more than 20 years.

April 17, 2023

Healthcare Leasing Activity Michigan Midwest

Devoted Dental Group Inks 5,500 SF Lease in Highland Charter Township, Michigan

by Kristin Harlow April 17, 2023

HIGHLAND TOWNSHIP, MICH. — Devoted Dental Group has signed a new five-year lease for 5,500 square feet at 2287 S. Milford Road in Highland Township, a northwest suburb of Detroit. James Mitchell of Dominion Real Estate Advisors LLC represented both the tenant and the undisclosed landlord in the lease.

April 17, 2023

Acquisitions Healthcare New Jersey Northeast

Fennelly Associates Arranges $8M Sale of Medical Office Building in Hamilton, New Jersey

by Taylor Williams April 14, 2023

HAMILTON, N.J. — Fennelly Associates has arranged the $8 million sale of a 59,000-square-foot medical office building at 3575 Quakerbridge Road in the Central New Jersey community of Hamilton. The two-story building, which was constructed in 2004, was sold in conjunction with 72,500 square feet of medical office condo space within White Horse Executive Center, located about five miles away. The second deal carried a price tag of $3.1 million. Jerry Fennelly of Fennelly Associates represented the seller, a family business, in both transactions. The buyer was not disclosed.

April 14, 2023

Healthcare Leasing Activity Northeast Pennsylvania

365 Health Services Signs 3,175 SF Lease at The Poplar in Downtown Philadelphia

by Taylor Williams April 14, 2023

PHILADELPHIA — Home healthcare provider 365 Health Services has signed a 3,175-square-foot lease at The Poplar, an office and residential development in downtown Philadelphia. Colin McHale of Beacon Real Estate represented the tenant in the lease negotiations. Matthew Guerrieri and Jeffrey Tertel of Newmark represented the landlord, Post Brothers.

April 14, 2023

Acquisitions Healthcare Loans Multifamily Seniors Housing Washington Western

CFG Funds $3.3M Bridge Loan for Two Skilled Nursing Facilities in Washington

by Jeff Shaw April 13, 2023

WASHINGTON — Capital Funding Group (CFG) has provided $3.3 million in bridge-to-HUD financing for the acquisition of two skilled nursing facilities. The facilities, which are located in Washington, feature 108 beds. Further details on the location and borrower were not disclosed. Tim Eberhardt and Ava Julio originated the transaction.

April 13, 2023

Newer Posts

Older Posts