PEARLAND — HCA Gulf Coast Division has plans to build a $71 million, 144,000-square-foot acute care hospital known as Pearland Medical Center. The 30-bed hospital will be located on a 48-acre site at the intersection of Highway 288 and County Road 2234 in Pearland. The hospital will feature surgical suites, medical/surgical beds, intensive care beds, an emergency department and an imaging department. The hospital's women's services include digital mammography, labor/delivery suites, cesarean section operating rooms and a newborn nursery. HCA will break ground on the hospital in 2013 and the hospital is slated for a late 2014 delivery.
LEWISVILLE — Broadstone Net Lease has acquired a 10,060-square-foot medical office building in Lewisville via a sale-leaseback transaction with My Dentist Holdings LLC. The lease term is 14 years on an absolute net basis. The acquisition was part of Broadstone Net Lease's recent acquisition of 21 net leased properties throughout the U.S. totaling approximately $38.8 million.
FORT WORTH — Summit Hotel Properties has purchased the 98-room Hilton Garden Inn in Forth Worth for $7.2 million. Summit expects to spend approximately $2.4 million in capital improvements for the hotel in the next 18 months, which Summit will fund with available cash and additional borrowings from its senior secured revolving credit facility.
LANCASTER, CALIF. – The 216-unit Amargosa Creek in Lancaster has sold to FAOF Amargosa, LLC for $14.3 million. It is located at 43332 Gadsden Ave. The REO property was sold via auction. Kitty Wallace of Colliers International’s West Los Angeles office represented both FAOF and the seller, Special Servicer LNR Partners, in this all-cash transaction.
SEATTLE – A new mixed-use project that will feature 105 residential units and 7,500 square feet of ground-floor retail space is slated for Seattle’s Capitol Hill neighborhood. Transwestern Investment Management (TIM) and its equity partner, State Farm Life Insurance Company, have enlisted Alliance Residential to develop the project at 1100 East Madison Street. It is scheduled for completion in 2014.
HAWTHORNE, CALIF. – The 58-unit Yukon Apartments in Hawthorne has sold to The Montecito Apts Investments, LP for $5.8 million. The REO property was sold via auction. Montecito was represented by Thomas Pattenaude of Colgate Capital. Kitty Wallace of Colliers International’s West Los Angeles office represented the seller, Special Servicer LNR Partners, in this all-cash transaction.
LAS VEGAS – A joint venture between Hines and a subsidiary of real estate funds managed by Oaktree Capital Management has acquired a 32-building office portfolio in the Las Vegas submarket of Summerlin. Vegas Inc. reported the sales price to be about $127 million. The portfolio contains 1,110,500 square feet of institutional-quality office space that is spread out among 13 campuses. The acquisition also includes two additional development parcels totaling 19 acres. Some of the properties’ notable tenants include AT&T, Diamond Resorts, Expedia, Williams-Sonoma and Wyndham Worldwide. Hines has assumed property management responsibilities on behalf of the joint venture. The seller, General Growth Properties, was represented by CBRE’s Kevin Shannon, Tom Bohlinger and Charles Moore.
CITY OF INDUSTRY, CALIF. – The Walnut Business Center has sold to Cook Walnut Property LLC for $6.6 million. The 57,412-square-foot center is located at 19555-19575 E. Walnut Drive South. Cook Walnut was represented by Jeff Bethel of Lee & Associates’ City of Industry office and Peter Bacci of the firm’s Los Angeles – Central office. Bethel also represented the seller, Catesgarb Holdings.
BRENTWOOD, CALIF. – The 137-unit TownCentre Commons Apartments in Brentwood has sold to Ridge Capital Investors for $19.6 million. TownCentre Commons is currently 97 percent occupied. Ridge Capital plans to invest an additional $1 million in property renovations. The community is managed by FPI Management.
ORLANDO, FLA. — Highpoint Club Apartments, a 43-building, 348-unit multifamily community in Orlando, has traded for $30 million. Sentinel Real Estate Corp. soldthe property to Robbins Property Associates. Highpoint Club was built in 1995 and is located within the Waterford Lakes neighborhood in Orlando’s University/East Orange County submarket. Amenities include a clubhouse with wi-fi access, a resort-style pool, a business center, tennis courts and a basketball court. Jamie May of Institutional Property Advisors (IPA), a multifamily brokerage division of Marcus & Millichap, represented Sentinel Real Estate Corp.