EAST WINDSOR, N.J. — Colliers International has brokered the $20 million sale of an 80,000-square-foot medical office complex in East Windsor, about 50 miles northeast of Philadelphia. Kim Kretowicz of Colliers represented the seller, Gordon Princeton Mab Associates, an affiliate of New Jersey-based medical office developer The Gordon Group. Kretowicz also represented the buyer, a partnership between global investment firm OrbVest and Wythe Medical Properties LLC NJ.
WARREN, MICH. — Cushman & Wakefield has arranged the $2.6 million sale of the Regal Court medical office property in Warren, a suburb just north of Detroit. The property includes two buildings totaling 40,181 square feet. The anchor tenant is Ascension, which occupies 41 percent. Gino Lollio, Scott Niedergang, Travis Ives and Garrett Keais of Cushman & Wakefield represented the seller, Promanas, an Ann Arbor-based commercial real estate private equity firm. The team also procured the local buyer, CMG Realty Group.
KING OF PRUSSIA, PA. — The Perelman School of Medicine at the University of Pennsylvania has signed a 150,000-square-foot life sciences lease at Discovery Labs’ 1 million-square-foot campus on Swedeland Road in King of Prussia, a northern suburb of Philadelphia. The university will use the space for its gene therapy program, which centers on researching gene functionality and development of genetic medicines for rare diseases. The lease encompasses two buildings. Discovery Labs is an affiliate of MLP Ventures, which was represented internally by Joe Corcoran and Julian O’Neill in the lease negotiations. Joe Fetterman of Colliers International represented the university.
COLLEGE STATION AND BRENHAM, TEXAS — Alliance Consolidated Group of Cos. has acquired a portfolio of net-leased medical office properties totaling 16,097 square feet in Texas for approximately $6 million. The portfolio consists of a 12,958-square-foot asset at 1730 Birmingham Road in College Station and a 3,139-square-foot property at 539 Medical Parkway in Brenham. Michael Moreno of Matthews Real Estate Investment Services represented the undisclosed seller in the deal. Texas ENT & Allergy is a tenant at both properties.
FORT WORTH, TEXAS — A joint venture between Texas Orthopaedic Associates Fort Worth PLLC and Vaquero Ventures has purchased a 43,397-square-foot medical office building at 5900 Altamesa Blvd. in Fort Worth. Bill Behr and Jim Sager of Tranwestern represented the seller, USMD Hospital at Fort Worth LP, in the transaction. Texas Orthopaedic Associates will also occupy the building along with Texas Health Surgery Center Chisholm Trail.
SWANSEA, MASS. — Jacobson Properties has brokered the $9.2 million sale of the East Bay Ambulatory Care Building, a 23,072-square-foot healthcare building in Swansea, located in the southern part of the state. The property was fully leased to East Bay Surgery Center, which focuses on ophthalmology, and Steward Saint Anne’s Hospital Center for Pain Management. East Bay Surgery Center Real Estate LLC sold the property to an undisclosed national healthcare real estate firm. Lisa Menin of Jacobson Properties brokered the deal.
SAN ANTONIO — Healthcare investment firm Montecito Medical has acquired a newly built, 29,375-square-foot medical office building in the Westover Hills neighborhood of San Antonio. The property was fully leased at the time of sale to anchor tenant Methodist Healthcare of San Antonio, as well as South Texas Radiology and San Antonio ENT. The seller and sales price were not disclosed.
LEXINGTON, MASS. — A partnership between Greatland Realty Partners and Singerman Real Estate has acquired a 288,528-square-foot office/research and development campus located at 10 Maguire Road in the northern Boston suburb of Lexington. The four-building property is located near the I-95/Route 128 and Route 3 interchange and features an open-air food hall with indoor and outdoor seating. JLL is marketing the property for lease to life sciences and technology users.
BAKERSFIELD, CALIF. — CIT Group has arranged a $17.4 million loan for the acquisition of a three-building medical office portfolio in Bakersfield. Totaling more than 65,000 square feet, the fully leased properties are located on the campus of Bakersfield Heart Hospital. A majority of the building tenants are practice groups affiliated with the hospital. CIT’s Healthcare Finance unit served as sole leader arranger for the financing. The name of the borrower was not released.
SANTA ANA AND ANAHEIM, CALIF. — CBRE has arranged a $58.2 million loan for the refinancing of a five-property healthcare portfolio in Orange County. Sabrina Solomiany and Zack Holderman of CBRE’s Debt & Structured Finance platform secured the loan on behalf of Pacific Coast Holdings Investment, the owner of the portfolio. Jonathan Bloch and Jennifer Eiteljorg of Brownstein Hyatt represented the borrower in the financing transaction. The portfolio consists of three acute-care hospital leased to KPC Healthcare, one long-term acute care hospital leased to Kindred Healthcare and a vacant medical office building. Orange County Global Medical Center, South Coast Global Medical Center, Kindred Hospital and the vacant building are located in Santa Ana; and Anaheim Global Medical Center is located in Anaheim. The 621,000-square-foot, 703-bed portfolio was more than 97 percent leased at the time of refinancing.