Healthcare

NREA, Catalyst Acquire Two National Healthcare Portfolios Totaling 1.2 MSF

by Taylor Williams January 17, 2022

WASHINGTON, D.C. AND PENSACOLA, FLA. — A joint venture between Washington, D.C.-based National Real Estate Advisors (NREA) and Florida-based Catalyst Healthcare Real Estate has acquired two national healthcare portfolios totaling approximately 1.2 million square feet Together, the portfolios comprise 40 properties across 13 states, the majority of which are located in Sun Belt markets. At the time of sale, the portfolios had a combined occupancy rate of 92 percent. Of that 1.1 million square feet of occupied space, about 88 percent is leased to regional healthcare systems and physician groups. The acquisition and recapitalization represent a total investment of approximately $420 million. The sellers were also not disclosed. “These transactions underscore our commitment to investing in highly competitive, diverse markets that seek to generate long-term, healthy returns for our clients,” says Jeffrey Kanne, president and CEO of NREA. “This acquisition not only significantly scales our medical office portfolio but furthers our geographic diversification.” “Our joint venture strives to positively impact healthcare delivery by investing strategic capital with a partnership-like mentality,” adds Chad Henderson, founder and CEO of Catalyst. “The closing of the portfolios was a significant first step for our joint venture and paves the way for the future of …

January 17, 2022

Development Healthcare Illinois Midwest

IMPACT Strategies Completes Construction of Three-Story Medical Office Building in O’Fallon, Illinois

by Kristin Harlow January 13, 2022

O’FALLON, ILL. — IMPACT Strategies has completed construction of the 50 West Office Building in O’Fallon, about 18 miles east of St. Louis. The three-story building, located near the HSHS St. Elizabeth’s Hospital campus, will house the practice of Dr. Joshua Wilson of Advanced Vision Care as well as SSM Physical Therapy. TR,i Architects designed the 36,000-square-foot property. Construction took less than 12 months.

January 13, 2022

Acquisitions Healthcare Texas

Cushman & Wakefield Brokers Sale of 117,597 SF Medical Office Complex in San Antonio

by Taylor Williams January 12, 2022

SAN ANTONIO — Cushman & Wakefield has brokered the sale of Sonterra Medical Park, a 117,597-square-foot healthcare property in San Antonio. The three-building complex is located adjacent to North Central Baptist Hospital on the city’s north side. Travis Ives, Gino Lollio, Todd Mills, Carrie Caesar and Hunter Mills of Cushman & Wakefield represented the seller, Stream Realty Partners, in the transaction. The buyer and sales price were not disclosed. At the time of sale, Sonterra Medical Park was 93 percent leased to tenants in the oncology, radiology and orthopedics sectors.

January 12, 2022

San-Antonio-Community-Based-Outpatient-Clinic

Development Healthcare Texas

Newmark Negotiates Sale of 226,148 SF VA Outpatient Clinic in San Antonio

by Taylor Williams January 6, 2022

SAN ANTONIO — Newmark has negotiated the sale of the San Antonio Community Based Outpatient Clinic, a newly built, 226,148-square-foot healthcare property that is fully leased to the Department of Veterans Affairs (VA). Gary Carr, Robert Hill and Chris Murphy of Newmark represented the seller, U.S. Federal Properties Co., in the transaction. The buyer and sales price were not disclosed.

January 6, 2022

Acquisitions Healthcare Midwest Missouri

Montecito Medical Acquires 40,500 SF Medical Office Building in Metro Kansas City

by Kristin Harlow January 4, 2022

LEE’S SUMMIT, MO. — Montecito Medical has acquired a 40,500-square-foot medical office building in Lee’s Summit near Kansas City. The fully leased property opened in 2020. Beacon Surgery Center, a joint venture between local physician partners and Partners Surgical, is the building’s primary tenant. Other tenants include Sano Orthopedics and Advanced Surgical Associates. The seller and sales price were not disclosed.

January 4, 2022

Acquisitions Healthcare Texas

MedCore Partners Arranges Sale of 61,088 SF Medical Office Building in Fort Worth

by Taylor Williams January 3, 2022

FORT WORTH, TEXAS — Locally based brokerage firm MedCore Partners has arranged the sale of the Texas Health Professional Building II, a 61,088-square-foot medical office building in Fort Worth. The property sits on 4.6 acres within the Texas Health Resources Alliance hospital campus and is primarily occupied by physicians of that provider, as well as Spine Team Texas. An institutional investor purchased the two-story building. The price was not disclosed.

January 3, 2022

Acquisitions Colorado Healthcare Office Retail Western

DPC Development Co. Sells Retail, Medical Office Property Near Denver for $10.2M

by Amy Works December 23, 2021

WHEAT RIDGE, COLO. — DPC Development Co. has completed the disposition of Wilmore Center, a mixed-use building located at 7615 and 7777 W. 38th Ave. in Wheat Ridge. T-2 Ventures acquired the asset for $10.2 million. Originally built in the early 1980s, Wilmore Center features 52,743 square feet of retail and medical office space. At the time of sale, approximately 93 percent of the property was occupied by a mix of service and medical-oriented businesses. Jon Hendrickson and Aaron Johnson of Cushman & Wakefield’s Denver office represented the seller in the transaction.

December 23, 2021

Acquisitions Connecticut Healthcare Northeast Office

CBRE Negotiates $19.4M Sale of Three Commercial Buildings in Westport, Connecticut

by Taylor Williams December 22, 2021

WESTPORT, CONN. — CBRE has negotiated the sale of two medical office buildings and a boutique office building in Westport, located in the southern coastal part of the state, for a combined $19.4 million. Locally based investment firm HB Nitkin purchased the healthcare assets, which were 89 percent leased at the time of sale, while Greenhouse Offices purchased the third property. Jeffrey Dunne, Steven Bardsley, Jeremy Neuer, David Gavin, Richard Gatto, Fahri Ozturk and Travis Langer of CBRE represented the seller, Leifer Properties, in the deals. CBRE also procured the buyer in the first transaction.

December 22, 2021

Development Healthcare Texas

NexCore, NCLV Open 112,505 SF Medical Office Building in Northwest Houston

by Taylor Williams December 21, 2021

HOUSTON — A partnership between Denver-based developer NexCore Group and North Cypress Land Ventures (NCLV), a group of physician investors, has opened Doctors’ Pavilion, a 112,505-square-foot medical office building in Houston. The four-story building is situated on a 4.7-acre site within the HCA Houston Healthcare campus on the city’s northwest side and will house an array of specialty medical practices. Construction began in summer 2020. In addition to retaining ownership, NCLV physicians will occupy space within the property.

December 21, 2021

Granger-Medical-Clinic-Salt-Lake-City-UT

Acquisitions Healthcare Office Utah Western

Montecito Medical Buys 95,000 SF Granger Medical Clinic Near Salt Lake City

by Amy Works December 17, 2021

WEST VALLEY CITY, UTAH — Montecito Medical has acquired Granger Medical Clinic, a medical office building located in West Valley City, a suburb of Salt Lake City. Terms of the transaction were not released. Built in 2020, the asset features nearly 95,000 square feet of space. Granger Medical Clinic fully occupies the property. Physicians at the property provide a variety of medical services, including urgent care, cancer care, endocrinology, ENT, audiology, family medicine, gastroenterology, internal medicine, ophthalmology, orthopedics, sports medicine, pediatrics and urology. The building also includes an imaging center, lab and pharmacy.

December 17, 2021

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