Montecito Medical, a premier owner of medical office properties throughout the U.S., has completed the acquisition of Perimeter Center Commons, a medical office complex located at 17300 North Perimeter Drive in North Scottsdale, Arizona, in the Phoenix metro area. United Urology Group, which leases 52% of the building’s space, is the dominant specialty practice in the area, with additional locations in Glendale, Mesa, Arrowhead and Peoria. Integrated Orthopedics, which leases approximately 17,650 square feet, is a well-known local group that specializes in orthopedic surgery, sports medicine and physical therapy. Admire Plastic Surgery, led by a nationally recognized surgeon, Dr. Anthony Admire, occupies 5,239 square feet of the property’s space.
Montecito Medical, a premier owner of medical office properties throughout the U.S., has completed the acquisition of the Windsong Medical Park property in Williamsville, New York. The two adjoining buildings that comprise the fully leased medical park offer a combined total of more than 72,000 rentable square feet of space. Windsong Radiology, a large radiology group, is the medical park’s anchor tenant, occupying slightly more than 41,000 square feet.
National Real Estate Advisors, LLC (“National”), an investment manager developing and managing large-scale real estate projects on behalf of its clients, through its recently formed joint venture with Catalyst Healthcare Real Estate (“Catalyst”), has completed the acquisition and recapitalization of two multi-state healthcare portfolios totaling $420 million (the “Portfolios”). The Portfolios consist of 40 properties totaling 1.2 million square feet spanning 13 states including: Alabama, Arkansas, Connecticut, Florida, Georgia, Illinois, Indiana, Louisiana, Massachusetts, North Carolina, Tennessee, Texas, and Virginia. The Portfolios are 92% leased and 88% of the total leased space is comprised of health systems and regional physician groups.
Ryan Cos. US Inc. has sold a 500,778-square-foot portfolio of 11 medical office buildings to Harrison Street, an investment management firm based in Chicago. Minneapolis-based Ryan, which announced the deal on Monday, said the 11 buildings are scattered across six states: Florida, Illinois, Minnesota, North Carolina, North Dakota and Wisconsin. Buildings included in the sale are single- and multi-tenant medical offices, ambulatory surgery centers as well as a multi-use integrated service center.
Tryko Partners has acquired Seacrest Village and The Terraces at Seacrest Village in Little Egg Harbor, expanding its Jersey Shore regional skilled nursing/assisted living real estate portfolio. The assets were family owned and operated for more than three decades. Seacrest Village, a 171-bed, three-story skilled nursing facility, was developed in 1985. It carries a five-star designation from the Centers for Medicare & Medicaid Services (CMS) for both overall quality and quality of resident care. The Terraces, built in 2013, is a two-story, Class A assisted living and memory care community.
DSS, Inc. (“DSS” or the “Company”) (NYSE American: DSS), a multinational company with nine operating business lines in diverse, high-growth industries, announced Wednesday its majority-owned subsidiary, American Medical REIT Inc. (“AMRE”), has acquired a tenanted 21,900 square foot medical office building in Winter Haven, Florida. Palm Medical Center (“Palm”), the primary tenant of the Winter Haven medical office building, leases nearly 19,000 sq. ft. of the property and has six years remaining on its lease with three five-year options to renew.
Thomas Park Investments announced Tuesday a joint venture with Chevy Chase, Maryland-based private equity firm Artemis Real Estate Partners to acquire a $500 million portfolio of healthcare real estate. The programmatic venture will seek core plus medical office buildings throughout the mid-Atlantic and Northeast. The venture kicked off with the $40 million acquisition of medical office real estate across three buildings in dense, affluent areas with positive demographic outlooks.
Procaps Group (NASDAQ: PROC), a leading integrated international healthcare and pharmaceutical company, today announced the closing of an asset purchase agreement to acquire an 86,000 sq. ft. pharmaceutical production facility located in West Palm Beach, Florida with production capacity of approximately 1.8 billion capsules per year for its iCDMO (integrated Contract and Manufacturing Organization) business unit, and is expected to increase Procaps Group’s product development capabilities by more than 70% .
CD Healthcare Infrastructure Partners, LLC (CDHIP), a real estate infrastructure fund dedicated to facilitating consumer-centric healthcare delivery, has acquired a community-oriented medical property in Paoli, Pennsylvania (Nemours Children’s Health, Paoli). The property is leased to Nemours Foundation (dba as Nemours Children’s Health), one of the nation’s largest, non-profit health systems dedicated exclusively to kids with a vision to create the healthiest generations of children.
Washington Summit Associates Managing Partner Michael E. Lundy, in conjunction with Pediatric Associates of Watertown, and Family Medicine of Northern New York, have announced the acquisition of each practice’s respective medical office buildings. Officially established in 2005, Washington Summit Medical and Professional Complex has developed into a mixture of ten buildings, 16 practices, over 500 employees and treats over 25,000 patients annually.
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