AMHERST AND ORCHARD PARK, N.Y. — Excelsior Orthopaedics has refinanced a portfolio of four healthcare properties totaling 114,250 square feet near Buffalo with a $35.2 million loan. Specifically, the portfolio comprises three medical office buildings in Amherst and a surgery center in Orchard Park. The buildings were constructed between 2008 and 2016 and are 100 percent owner-occupied. Daniel Turley, Anthony Sardo and Brannan Knott of JLL arranged the seven-year, fixed-rate loan through Northwest Savings Bank.
ST. LOUIS PARK, MINN. — Minneapolis-based developer Davis has opened Xchange, a 78,000-square-foot medical office building located at 6099 Wayzata Blvd. in St. Louis Park, just west of Minneapolis. Davis acquired the site in 2015. Ear Nose & Throat Specialty Care and Surgical Specialty Center of Minnesota anchor the three-story property, leasing 60 percent of the space. OVO Lasik + Lens ophthalmology clinic and surgery center occupies a portion of the first floor, while Retina Consultants of Minnesota occupies the remaining space. The project includes a covered patient drop-off, a healing garden and 324 parking spaces, 51 of which are underground. The project team included Synergy Architecture Studio and Timco Construction Inc.
LAKE SUCCESS, N.Y. — Northwell Health, New York State’s largest health provider and private employer, has signed eight lease renewals totaling 32,413 square feet for an additional 10 years in Lake Success, located in Nassau County on Long Island. The practices of Northwell, which include primary care, gastroenterology and pulmonary disease, are spread among multiple floors at 2001 Marcus Avenue, a 214,000-square-foot medical office building. Kevin Driscoll represented the landlord, The Feil Organization, in the lease negotiations on an internal basis. Tom Ruggiero and Brian Palumbo provided in-house legal counsel to Feil, while David Leno provided counsel to Northwell Health on an internal basis.
AVENTURA, FLA. — Los Angeles-based Parkview Financial has provided a $45 million construction loan for a speculative medical office building located in Aventura, approximately 19 miles north of Miami. The borrower was an entity of Gomez Development Group. The medical office project will have 142,000 square feet of space. Located at 21291 N.E. 28th Ave. on 1.6 acres, the property will include a seven-story building, as well as a four-level parking garage with 346 spaces. The site is adjacent to the Aventura Hospital and Medical Center. Caymares Martin Architectural & Engineering Design is the project’s architect. A general contractor has not yet been announced. The project will break ground in early 2022 with completion slated for November 2022.
HOUSTON — Locally based provider UT Physicians has signed a 139,243-square-foot healthcare lease at Bellaire Station, a 389,826-square-foot medical office building in Houston’s Bellaire submarket. Lisa Bovermann of Transwestern represented the tenant in the lease negotiations. Justin Brasell, Doug Little and Ashley Cassel, also with Transwestern, represented the landlord, Capital Commercial Investments Inc. The property was recently converted from an office to a medical office use.
TEMPLE TERRACE, FLA. — Cullinan Properties Ltd. plans to develop the new VA Mental Health Clinic and Domiciliary in Temple Terrace, about 10.4 miles north of Tampa. The Department of Veterans Affairs (VA) with the General Services Administration (GSA) awarded Cullinan Properties the lease for the clinic. The project team includes architecture and design firm Leo A. Daly, general contractor Hoar Construction, civil engineer Prosser and property management firm Lincoln Harris. The VA Mental Health Clinic and Domiciliary will be a 144,000-square-foot project situated on approximately 20 acres. The clinic will serve veterans and provide outpatient mental health care. The project is slated for completion by the second half of 2023. Located in Hillsborough County at the southwest quadrant of Temple Terrace Highway and Davis Road, the new two-story facility will be situated near Interstate 75 and Highway 301. The property will offer outdoor elements including gardens, courtyards and walking paths. Cullinan Properties is a Peoria, Ill.-based commercial mixed-use, governmental, multifamily and medical office developer. The company has experience working with the VA previously as it developed the 275,000-square-foot Austin VA Outpatient Clinic located in Austin, which opened in 2013. The company also developed the 21,000-square-foot McLean County VA Outpatient …
ST. PAUL, MINN. — MedCraft Investment Partners, which focuses exclusively on healthcare real estate, has acquired a 22,721-square-foot medical office building in St. Paul for $8.6 million. MHealth Fairview’s Midway Clinic, which offers primary and specialty care services, fully occupies the property, which is located at 1390 University Ave. A bookstore formerly occupied the building before it was converted into healthcare use. The seller was not provided.
WEST PALM BEACH, FLA. — SRS Real Estate Partners’ National Net Lease Group (NNLG) has brokered the $2.9 million off-market sale of a single-tenant medical office property fully occupied by Heartland Dental in West Palm Beach. Patrick Nutt and William Wamble of SRS represented the seller, a Florida-based private investor, in the deal. Richard Dorfman of SRS represented the buyer, a Massachusetts-based private investor. Located at 8961 Okeechobee Blvd., the 3,533-square-foot medical office property is located near a Publix, Mobil gas station and T-Eka Photo electronics store. Built in 2000, the property previously was a Truist Bank property and now is currently being renovated by Heartland Dental, which recently signed a 10-year lease for the property. The asset was acquired by the new ownership during the renovation process and prior to the rent commencement date.
AVONDALE, ARIZ. — Montecito Medical Acquisition Co. has purchased Akos Medical Campus, a newly completed medical office building in Avondale. Akos MOB I LLC sold the asset for an undisclosed price in an off-market transaction. The three-story, 68,000-square-foot Akos Medical Campus features a state-of-the-art imaging suite, multi-specialty ambulatory surgery center (ASC) and a cardiovascular ASC, as well as an urgent care, pharmacy and clinical office space. At the time of sale, the property was fully leased to a variety of tenants, including Peak Heart & Vascular and Apricus Health. J.T. Taylor of ORION Investment Real Estate represented the seller in the deal.
WOBURN, MASS. — Locally based mortgage banking firm Fantini & Gorga has arranged a $9.2 million permanent loan for Woburn Rehabilitation & Nursing Center, a 140-bed healthcare facility in the northern Boston suburb of Woburn. The loan was placed with correspondent Eastern Mortgage Capital, which structured the transaction through the FHA’s 232/223(a)7 program. The borrower was not disclosed.