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A new $30 million centrally-located health center will meet the need of thousands of uninsured people by bringing primary and specialty medical services on an income-based sliding scale.

Nonprofit health care organization PanCare of Florida, Inc. will break ground on the PanCare Regional Healthcare Center within the next 45 days. To be located on the block of 15th Street and Sherman Avenue across from the Bay County Fairgrounds, the center will create 100 new jobs during the next five years of the build out.

“It’s a huge project for Bay County and for this entire region,” said PanCare Marketing Coordinator Ashley Kelley. “It means that people have access to affordable specialty care and be able to go beyond their primary care services.”

She said, as in the name, the center will be beacon for the region, particularly for the surrounding rural communities and individuals who are uninsured or using Medicaid and Medicare.

“There’s really nothing like this in Northwest Florida,” she said.

The multi-building medical complex will have a state-of-the-art women’s health center offering gynecology and mammography services, a full-service pharmacy and a laboratory.

Other services will include physical and infusion therapy, gastroenterology, cardiology, radiology and ophthalmology. In addition to a walk-in clinic, the campus will include a building that will serve as a special needs shelter, with onsite medical providers, in the event of a natural disaster.

Kelley said the property was purchased before Hurricane Michael with plans to build the health care complex and that the organization is currently looking ahead to vamping its fundraising to fully fund the $30 million project.

 

Source:  Panama City News Herald

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Just as the sun was rising Tuesday, a group from the Florida Cancer Specialists broke ground on the new state-of-the-art Clermont Cancer Center, which will replace the existing location on Wickham Way.

“Next April, where we stand today will be a brand new Cancer Center to serve the residents of Lake County,” Joyce Nelson, FCS Chief Administrative Officer, said. “We’re excited that this greatly-expanded space will offer great comfort for our patients, staff and visitors to enhance their patient experience and enable us to keep pace with the ongoing growth in our community.”

According to Nelson, the American Cancer Society has estimated that 148,000 Floridians will be diagnosed with cancer this year.

 

Source:  Daily Commercial

 

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Owner and operator of senior living facilities Royal Senior Care has secured $41.9 million in construction financing for the development of a 217,123-square-foot, luxury senior living facility in Miami.

The healthcare group of the commercial bank, BHI, arranged the financing on behalf of the borrower, Royal Senior Care. BHI provided $31.9 million in financing for the project and Coastal States Bank has provided $10 million in financing.

The facility, Oasis at Coral Reef, will comprise three buildings situated on an 8.7-acre campus. Located adjacent to Jackson South Medical Center, the facility will offer 201 catered living, assisted living and memory care units, as well as a restaurant-style dining, boutique hotel décor and various luxury amenities.

The project is currently under development.

The financing represents BHI’s second transaction on behalf of Royal Senior Care. In 2018, the commercial bank arranged refinancing for Royal Senior Care’s Oakmonte of Davie senior housing facility in Davie, FL.

“BHI has proven to be a highly supportive partner over the years,” states Sean Kanov, managing director of Royal Senior Care. “BHI’s healthcare team is expert in the intricacies of the senior living sector and understands our business. We are very pleased to collaborate with them again.”

 

“Although 2020 was a challenge for many senior living, assisted living and memory care operators, BHI believes in the outlook and demographics of the business,” says Tami Antebi, first VP and head of BHI Healthcare. “We continue to support our clients and provide financing in the sector. Royal Senior Care has a keen understanding of the market. Its communities with their exceptional amenities offer great appeal for residents.”

 

“BHI aims to build long-term relationships with clients by becoming acquainted with their business objectives and providing tailored financial solutions to meet them,” says Steven Caligor, EVP and division executive of structured finance group at BHI. “Royal Senior Care has a substantial track record of success in the Florida senior care industry.  We look forward to continuing our productive partnership going forward.”

 

Source:  GlobeSt.

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Medical offices have been a bright spot for real estate investors during the pandemic, despite the fact that telehealth saw a boom during the pandemic.

Doctors and medical professionals have remained on time with their rent payments in the past year, unlike other office tenants, the Wall Street Journal reported. While some tenants have paid less than 85 percent of rent collections, medical professionals have paid 95 percent of rent owed.

And despite in-person visits falling 60 percent early on in the pandemic, telemedicine appointments accounted for just over 8 percent of visits in December, indicating that patients are going back to offices.

Property owners have continued investing in the field. While sales volume for all commercial real estate dropped 32 percent in 2020 compared to the year prior, $11.2 billion worth of medical office buildings were purchased in 2020. That’s only slightly below the $12 billion worth of properties bought in 2019.

Major players are now entering the field. MedCraft Investment Partners launched a $500 million fund in January that will be dedicated to medical office acquisitions. Additionally, Kayne Anderson Real Estate is closing a $2.5 billion fund that will devote half of its fund to medical offices.

 

Source: The Real Deal

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The St. Joe Co., Tallahassee Memorial HealthCare Inc. (TMH) and Florida State University College of Medicine have partnered to develop a healthcare campus in Panama City Beach.

The campus’ planned location is on an 87-acre parcel near the intersection of State Highway 79 and Phillip Griffitts Sr. Parkway. The property is planned to be close to the Latitude Margaritaville Watersound community, a 55-and-older community that is planned for 3,500 homes.

Future development plans of the healthcare campus include the construction of an emergency center and 100-bed inpatient facility offering services such as gastroenterology, urology, gynecology, cardiology and general surgery, among others. The parties intend to create a local fiduciary governance structure for the planned campus.

TMH currently serves 17 counties in Florida and Georgia. This would be its first facility in Bay County. The parties intend to break ground on the project as early as 2022.

 

Source:  RE Business

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Several properties are hitting the market in a hot corner near downtown Orlando, College Park and Winter Park.

Roughly 3.4 acres are for sale southeast of Wilkinson Street and Orange Avenue near AdventHealth‘s downtown Orlando campus.

JLL‘s John Gilbert and Darryl Hoffman are marketing the properties separately, but combined they may offer a larger redevelopment opportunity which could create jobs and provide new amenities to residents, workers and more.

No one is under contract to buy the properties, which feature roughly 38,000 square feet of commercial space built between 1958-1981, Orange County records show.

Property owners include John W Davies Revocable Living Trust, Orlando Dental Medical Center Inc. and 600 Wilkinson LLLP. Combined, the properties have a market value of $5.8 million, according to the Orange County Property Appraiser. Some parcels have approvals for future development. For example, the 1-acre 600 Wilkinson St., which features an 11,500-square-foot building with short-term leases, can be converted into a 60,000-square-foot, four-story office building with parking garage, according to marketing materials.

 

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