Lotus Closes $120M Medical Office Portfolio Financing

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Lotus Capital Partners has arranged, structured, and closed a $120 million financing package on behalf of ShareMD for an eight-property medical office portfolio.

Lotus secured a $66 million 5-year refinancing with Cerberus Capital Management collateralized by a seven-property portfolio totaling 268,000 square feet, and a $53 million refinancing with an incumbent lender secured by a 498,000 square office building in Jacksonville, FL.

The Cerberus loan features a diverse tenant mix across various medical specialties in offices strategically located near hospitals and medical facilities. The incumbent refinance is secured by an on-campus medical office building anchored by major health system tenants.

ShareMD is a fully integrated real estate company focused on institutional quality MOBs.

“The team at Lotus is among the best in the business at executing complex capital structures and we greatly valued the firm’s creativity, dedication, and professionalism throughout this process,” said John Bardis, CEO of ShareMD.

 

Source:  ConnectCRE

 

 

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Healthcare Investor Changes Gears: Boca Raton Senior Living Project Scrapped For Multifamily Development

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22-26 Southeast Sixth Street LLC, an entity formed between Hunt Valley, Maryland-based Omega Healthcare Investors and Westport, Connecticut-based Maplewood Senior Living and now managed solely by Omega, submitted plans to build 42 multifamily units instead of the original plan to build a senior living facility.

City officials received the application concerning the 0.61-acre property at 22 SE Sixth St. in June.

In 2021, the entity purchased the site for $10.2 million from Group P6. Group P6 secured approval in 2018 for the Concierge, a nine-story building with 88 units of independent living, assisted living and memory care, along with a host of amenities geared for senior living. Structures that existed on the site were removed, but no new construction took place.

The multifamily building footprint would remain 124,288 square feet in nine stories. Plans include six two-bedroom units, 12 two-bedroom units with dens, 18 three-bedroom units with dens, and six townhouses.

 

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Moffitt Cancer Center To Open $400 Million Inpatient Surgical Hospital

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Moffitt Cancer Center, one of 54 National Cancer Institute-designated comprehensive cancer centers, is opening the doors to its $400 million inpatient surgical hospital in Tampa, Moffitt McKinley, which it expects will accommodate a 63% increase in patient volume and a 33% rise in cancer surgeries over the next 10 years.

Construction began in 2020 with design plans entailing a hospital that could treat all types of cancer and provide surgery for solid tumors. The design was based on feedback from more than 170 stakeholders, including physicians, nurses, lab personnel, pharmacy staff, hospital leaders, administrators, patients, and families.

The 10-story facility is 498,000 square feet and is made up of 19 operating suites, 128 inpatient rooms, and 72 perioperative rooms. It also has an intraoperative MR suite, a diagnostic CT scanner, and two nuclear medicine cameras. The hospital will start with 80 available inpatient beds but can expand to 400 in the future.

“We are significantly increasing our capacity to help more patients and save so many lives here. We’re expanding all over so we can bring therapies closer to our patients and perform life-saving research that will give them even better hope for tomorrow,” said Moffitt president and CEO Dr. Patrick Hwu in a statement.

The new MR scanner provides doctors with real-time views of the patient on the operating table and does not require the patient to be moved to another room for scanning, according to WUSF Public Media.

“Everyone clears the room and an MR scanner comes in from [another] room on a track and comes over and looks to see if we got the whole tumor. If not, the surgeon will take more of a margin,” said Hwu.

Each patient room is 350 square feet and includes virtual whiteboards and flat-screen TVs, foldout sofas and recliners, and technology that identifies each team member that enters. The hospital also has a 26,000-square-foot central utility plant, a three-story parking garage, and a pedestrian bridge that connects it to the Richard M. Schulze Family Foundation Outpatient Center.

In addition to this project, Moffitt Cancer Center broke ground back in January on the construction of its 775-acre Pasco County campus, Speros Florida, which will include 140 buildings for clinics, research, housing, and more. It is expected to start seeing patients in 2025.

For Moffitt McKinley, it partnered with Barr & Barr Inc., Hammes Company, HDR, Horus Construction Services Inc., Walter P. Moore, and Ardurra Group Inc.

 

Source: HealthCareBusiness News

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Orlando Health Plans 300-Bed Hospital In Florida

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Nonprofit healthcare organization Orlando Health and multispecialty physician group Florida Medical Clinic (FMC) are planning a new hospital called Orlando Health Wiregrass Ranch in Wesley Chapel, Florida.

The project will be situated in Wiregrass Ranch, a 5,000-acre master-planned community.

The 300-bed multistory facility will offer a range of healthcare services, including emergency and inpatient care.

 

Source:  Healthcare Design

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AdventHealth Opens Palm Coast Parkway Hospital, Doubling ER And Patient Capacity For Flagler County

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The new AdventHealth Palm Coast Parkway hospital opened its doors to patients on Aug. 2, and the facility has already passed a major stress test.

“This has been years in the making going all the way back to 2019 when we started our planning and site selection,” said Wally De Aquino, president and CEO of AdventHealth Palm Coast Parkway, during a media tour of the new hospital on Tuesday. “We eventually broke ground in September 2021, and what a time in history to start a project like this. While the entire country and world were dealing with a pandemic, staffing challenges and inflation, we pressed forward.”

The hospital is located between Palm Coast Parkway NE and Palm Coast Parkway SW, just west of Belle Terre Parkway, at 1 AdventHealth Way.

The 158,000-sqaure-foot facility, which cost $167 million (including a medical building dedicated earlier this month), includes 100 inpatient beds, which will double the inpatient capacity for Flagler County when added to AdventHealth Palm Coast, the hospital that recently marked its 20th anniversary at its campus on S.R. 100 just west of I-95.

The emergency department at Palm Coast Parkway houses 24 beds and includes a helicopter landing pad, and will “almost double” the county’s capacity for emergency services, De Aquino said.

 

Source:  Flagler Live

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