GARLAND, TEXAS — Primary and specialty care provider WellMed Medical Management has signed an 11,599-square-foot healthcare lease at Valoris Healthpark in Garland, a northeastern suburb of Dallas. The 73,000-square-foot facility was originally constructed in 2002, according to LoopNet Inc., and recently received $1.5 million in capital improvements. Austin Barrett of JLL represented the landlord, Prevarian Cos., in the lease negotiations. MedCore represented the tenant.
MAGNOLIA, TEXAS — Northmarq has brokered the 1031 exchange sale of a 16,700-square-foot healthcare property in Magnolia, about 45 miles northwest of Houston. Built on 7.6 acres in 2012, the property was fully leased at the time of sale to tenants such as Hillwood Family Dental Group, Simple Traditions Family Health, Hanigan & Johnson Orthodontics and Endodontics of Houston. Riley Sharman of Northmarq brokered the deal.
COLUMBIA, S.C. — Montecito Medical Real Estate has received a $31.2 million loan for the acquisition of a cancer treatment center located in Columbia. First Citizens Bank’s Healthcare Finance group, part of the CIT division, provided the financing. The facility is currently leased to South Carolina Oncology Associates (SCOA).
CINCINNATI — Montecito Medical has acquired two orthopedic medical office buildings in Cincinnati for an undisclosed price. The properties, which total more than 130,000 square feet, are fully leased to Beacon Orthopedics. One of the buildings is in Cincinnati while the other is in the suburb of Sharonville. Each property includes an ambulatory surgery center. Steve Timmel, Travis Likes, Jeff Johnston, Will Roberts and Lee Asher of CBRE represented the undisclosed seller. Beacon Orthopedics, which operates more than 20 locations in Ohio, Kentucky and Indiana, provides a full range of services, including clinical orthopedics, orthopedic surgery, physical therapy and imaging.
COLORADO SPRINGS, COLO. — Marcus & Millichap has arranged the sale of a medical office building located at 2960 N. Circle Drive in Colorado Springs. A local limited liability company sold the property to local investor for $4.2 million. Colorado Springs Family Practice occupies the 24,806-square-foot building, which was built in 2003 on two acres. Spencer Mason, Brandon Kramer and Erik Enstad of Marcus & Millichap’s Denver office represented the seller in the deal.
HOUSTON — Newmark has arranged a $44 million loan for the refinancing of an acute and specialty care hospital in Houston. At the time of sale, the facility was 100 percent leased to an independent surgical hospital operator and national inpatient rehabilitation facility. John Nero, Jay Miele, Ben Appel, Michael Greeley, Adam Goss and Ron Ott of Newmark arranged the nonrecourse financing, which was structured with a 70 percent loan-to-value ratio. The borrower and direct lender were not disclosed.
PARAMUS, N.J. — The Hospital for Special Surgery (HSS) has signed a 40,062-square-foot healthcare lease at Nexus 17, a two-building complex located in the Northern New Jersey community of Paramus. Brian Given, Bryn Cinque and James Bailey of Colliers represented HSS in the lease negotiations. David DeMatteis, Benjamin Brenner and Mark Zaziski of Cushman & Wakefield represented the landlord, The Birch Group. The building is now 96 percent leased.
WOONSOCKET, R.I., AND CHICAGO — CVS Health (NYSE: CVS) has agreed to acquire Oak Street Health (NYSE: OSH) in an all-cash transaction at $39 per share, representing a total purchase price of roughly $10.6 billion. The price represents a premium of approximately 11.9 percent over Oak Street’s opening price per share this morning. Chicago-based Oak Street Health is a network of primary care centers for adults on Medicare. The company employs approximately 600 primary care providers and maintains 169 medical centers across 21 states. By 2026, Oak Street Health plans to grow to more than 300 centers. Oak Street Health’s technology solution, Canopy, is fully integrated with its operations and utilized when determining the appropriate type and level of care for each patient. That care will be enhanced by CVS Health’s community, home and digital offerings, according to the companies. Bringing CVS Health and Oak Street Health together can significantly benefit patients’ long-term health by reducing care costs and improving outcomes, particularly for those in underserved communities, according to a news release. Oak Street Health centers are located where healthcare services are needed most; more than 50 percent of Oak Street Health’s patients have a housing, food or isolation risk …
ERIE, COLO. — Blue West Capital has negotiated the acquisition of a single-tenant medical office building located at 2970 Arapahoe Road in Erie, approximately 25 miles north of downtown Denver. An Arizona-based family in a 1031 exchange acquired the asset from a local developer for $5.6 million. UCHealth occupies the medical office building on a net-lease basis. Tom Ethington of Blue West Capital represented the buyer in the deal.
MANSFIELD, TEXAS — Rethink Healthcare Real Estate, a New York-based investment firm, has purchased a 36,101-square-foot emergency hospital located in the southern Fort Worth suburb of Mansfield. Emerus operates the facility, which opened about seven years ago. Rethink acquired the property in a joint venture with global investment management firm Heitman. An affiliate of First Citizens Bank provided acquisition financing for the deal, which was arranged by BlackBirch Capital.