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Latest Atlanta & Southeast Healthcare Stories
Nashville, TN-based Clarity Veterinary Real Estate, which invests in veterinary office properties throughout the US, has acquired two buildings in Greenville, SC. The buildings total of 41,700 square feet, are 100% leased and comprise the main campus of Upstate Veterinary Emergency + Specialty Care. With 40 veterinarians, Upstate Veterinary Emergency + Specialty Care is not …
Rendina Healthcare Real Estate, The Jackson Clinic and Baptist Memorial Health Care have begun construction on an outpatient campus and medical office building in Jackson, TN. The two-story facility will sit on a portion of a 59-acre parcel owned by Baptist and located at the intersection of Passmore Lane and U.S. Hwy 45. The facility …
Latest Boston & New England Healthcare Stories
Newmark has completed the $7.1-million sale of 701 George Washington Highway, a Class A medical/office building located in Lincoln, RI. A Newmark team of Michael Greeley, Joseph Alvarado and George Demoulas represented the seller, FH French, and procured the buyer, Legacy Capital Ventures. Newmark’s Robert Griffin, Frank Nelson, Blake McLaughlin, Allie Percoco and Casey Valente …
Medical Properties Trust, Macquarie Asset Management Reach $1.2B Agreement for MA Hospital Portfolio
Medical Properties Trust, Inc., has completed the previously announced transaction with Macquarie Infrastructure Partners V, a private fund managed by Macquarie Asset Management to form a partnership in which a MAM-controlled subsidiary has acquired a 50% interest in a portfolio of eight MA hospitals owned by MPT. CBRE served as equity recapitalization and debt financing …
Latest California Healthcare Stories
CBRE’s Bill Maher, Anthony DeLorenzo, Bryan Johnson and Gary Stache have arranged the $7 million sale of a Long Beach, CA facility to an undisclosed buyer. The property, located on West Wardlow Road, is a medical building with operating rooms that will be converted to office space for the buyer’s expanding business needs. The 8.700-square-foot …
CBRE’s Matt Pourcho, Anthony DeLorenzo, Matt Harris, Chris Williams and Ramin Salehi have arranged the $9 million sale of a 29,000-square-foot office and medical building in Chula Vista, CA. The seller in the $318 per square foot transaction was Coseo Properties. The buyer was an out-of-town private investor. Built in 1979 and renovated in 2016 …
Latest Chicago & Midwest Healthcare Stories
Syndicated Equities finalized the sale of the Abbott Laboratories Life Sciences Campus in Minnetonka, MN, within the Twin Cities metro area. Syndicated acquired the portfolio, which originally consisted of short-term leases for 280,289 square feet spread out across five buildings, alongside Eagle Ridge Partners in 2017. The portfolio contained certified clean rooms, labs, manufacturing space, as …
Colliers | Wisconsin was named strategic real estate partner for Children’s Wisconsin, an independent, not-for-profit healthcare system focused on children. As part of the partnership, Colliers will provide transaction management and portfolio administration services for Children’s real estate portfolio across Wisconsin. Maureen Goetz, director of real estate services, and Jamie Bushman, senior lease administration …
Latest Florida & Gulf Coast Healthcare Stories
Sila Realty Trust, Inc., a public, non-traded real estate investment trust focused on investing in high quality healthcare properties along the continuum of care, has acquired an inpatient rehabilitation facility in Tampa, FL $51.2 million. The TGH Rehabilitation Hospital is 100% leased to Tampa Rehabilitation Hospital, LLC. The freestanding, newly constructed, 80-bed inpatient facility situated …
Tampa General Hospital and Kindred Rehabilitation Services have opened the TGH Rehabilitation Hospital on Kennedy Boulevard in Tampa. The building is approximately 80,000 square feet, and the construction cost was $35 million. The 80-bed freestanding rehabilitation hospital twill provide comprehensive care for patients recovering from debilitating injuries, illnesses, surgeries and chronic medical conditions. Tampa General …
Latest Global Healthcare Stories
Breakthrough Properties, a joint venture of Tishman Speyer and Bellco Capital, has reached the final closings for the Breakthrough Life Science Property Fund. The venture raised $3 billion in direct capital and co-investments, to scale a global portfolio of ecosystems for dynamic early-, mid-, and late-stage life science companies. The $3 billion raised in fund and co-investment capital surpassed Breakthrough’s initial $1.5-billion …
Private equity firm Madison International Realty has invested in AXA IM Alts European Life Sciences platform. Madison now owns a minority stake in, and has advisory participation of, Kadans Science Partner, which AXA IM Alts acquired this past December. The investment is Madison’s first in the European life sciences sector and follows a $200-million commitment made to IQHQ, a U.S. life sciences real estate owner, operator and developer, during 2020. Madison believes the …
Latest Lenders Healthcare Stories
Latest National Healthcare Stories
Led by the Boston metro area, lab space across the 12 largest U.S. life sciences hubs made additional gains in the second quarter, including an increase in lease rates and a decrease in vacancy despite more construction activity, according to a new report from CBRE. The average vacancy rate for U.S. life sciences space registered 5.2% in Q2, down …
Newmark arranged $200 million of Shariah-compliant financing for a medical office building portfolio on behalf of a joint venture between Dallas-based Big Sky Medical and GFH, an institutional investor based in Bahrain with a global portfolio of investments. Earlier this year, Newmark assisted in arranging the JV, which was seeded by a $400-million-plus MOB portfolio aggregated …
Latest New York & Tri-State Healthcare Stories
Sunrise Senior Living, together with partners Hines and Welltower, has announced the name of its second luxury senior lifestyle community in New York City: The Apsley. Located on Manhattan’s Upper West Side at 2330 Broadway, the community will be able to accommodate up to 178 residents. “We have always known there is a strong demand …
RIPCO Real Estate arranged the sale of investment sales property 91-07 Jamaica Ave. in Woodhaven, Queens. The $5.6-million sale equates to $1,110 per square foot. The team of Stephen R. Preuss, Kevin Schmitz, Andreas Efthymiou and Kevin Louie arranged the sale from owner 75 Parsons Blvd LLC to buyer Rassell Realty Corp. The 5,065-square-foot property …
Latest Phoenix & Southwest Healthcare Stories
A 24,800 square foot multi-tenant medical office building traded hands in a recent deal worth $365 a square foot. The newly renovated, two-story building is 100% leased to a stable rental group. The buyer was 1277 Investment Alliance. Helix Properties was the seller. Mike Wichterman led a group of Cushman & Wakefield agents who repped …
The five-story Optum Center was sold to Cleveland-based Woodside Health Development for $244 a square foot. Talia Jevan Properties of Vancouver, BC was the seller, who was represented by Cushman & Wakefield. The 81,907 square foot building also includes a five-story parking garage. It’s 94% leased with United Health Care as it prime tenant. Cushman …
Latest Seattle & Northwest Healthcare Stories
Medical supply company Bttn is growing, signing a new lease at 424 2nd Ave. W in the Lower Queen Anne neighborhood of Seattle. Colliers facilitated the agreement for the 28,500-square-foot space, a significant expansion from Bttn’s original location on Canal Street in the Fremont District. “This additional space will be the catalyst for our continued …
Real estate investor and developer, Oxford Properties Group, has completed the speculative conversion of the 136,000-square-foot Boren Lofts office building into Boren Labs, a fully dedicated life sciences facility in Downtown Seattle. Demand for such buildings remains intense, and during the conversion process, seven of the nine floors were leased. The Boren Labs building also …
Latest Texas Healthcare Stories
Memorial Hermann Cypress Hospital is moving forward with a $71.8 million project that will add 40 beds, a second office building and more parking. The facility originally opened in 2017 and has 105 beds and about 600 employees. The expansion will span 185,000 square feet which the medical group hopes will be completed in 2024. …
LifeTime, an athletic country club with more than 150 locations across the country, is coming to Westlake. The new project is slated to begin construction early 2023 and should be ready for fitness enthusiasts in mid-2024. Besides hosting 100’s of weekly group fitness classes, the new club will feature both indoor and outdoor pools, regulation …
Latest Washington DC Healthcare Stories
Stan Johnson Company has completed the sale of a medical facility on Thomas Johnson Drive in Frederick, MD for approximately $2.4 million. The 10,000-square-foot property is leased to Maryland Vision Institute. Stan Johnson Company’s Asher Wenig represented the buyer, an individual investor based in New York. The seller was a local partnership. “In a 1031 …
Potomac, MD-based Foulger-Pratt is kicking off its transformation of the Landmark Mall Alexandria, VA from a shopping center to a mixed-use work-live-play community with a name change to West End Alexandria. Foulger-Pratt, with partners The Howard Hughes Corporation and Seritage Growth Properties, in November 2021 announced the $54-million sale of an 11-acre parcel at the …