REBusinessOnline

Seavest, Ciminelli Secure Financing for Conventus MOB in Downtown Buffalo

BUFFALO, N.Y. — Seavest Healthcare Properties and Ciminelli Real Estate Corp. have secured permanent financing for the seven-story, 350,000-square-foot Conventus medical office building on the Buffalo Niagara Medical Campus (BNMC) in downtown Buffalo. The $75 million, five-year takeout loan replaces the building’s initial construction loan. Both loans were provided by M&T Bank and KeyBank. Located at 1001 Main St., Conventus is connected on two full floors to a children’s hospital and will also be connected to a new medical school by a skybridge. Serving as the northern gateway to the BNMC, the $110 million Conventus building is certified LEED Platinum.

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