Developer Obtains $46M Loan To Build Senior Living Project In Coral Gables

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Sunrise Senior Living obtained a $45.77 million construction loan to build an assisted living facility in Coral Gables.

Regions Bank provided the mortgage to Sunrise of Coral Gables Propco LLC, an affiliate of McLean, Virginia-based Sunrise Senior Living. It covers the 23,469-square-foot site at 1000 Ponce de Leon Blvd.

The developer purchased the land for $8.1 million in 2019 and subsequently demolished an office building.

Designed by Coral Gables-based Behar Font & Partners, the six-story project will feature 94 rooms with 118 beds of assisted living. Amenities would include a lounge, an entertainment room, activity rooms, a rooftop garden, a hair salon, a dining room and a staff kitchen.

 

Source:  SFBJ

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Ground Broken On New 87-Acre Florida Medical Complex With ASC

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Site work has begun on a new 87-acre medical complex in Panama City Beach, Fla., that will include an ASC, facilities for orthopedic surgery and cardiology, a hospital, urgent care and primary care, according to an Aug. 29 report from the Panama City News Herald.

The center is being built through a partnership between Tallahassee (Fla.) Memorial Healthcare, Tallahassee-based Florida State University and St. Joe Company, a developer.

The hospital building was originally slated to open with 30 to 40 inpatient beds, before expanding to 100 down the line, but due to demand, the facility may need all 100 beds now, according to the report.

The medical office building on the currently-unnamed campus is expected to open sometime in 2024, with the hospital set to open in 2027.

“There’s a lot of great hospitals in this area, but [they] are a distance away,” Andrew Starr, chief health operations officer at Tallahassee Memorial Healthcare, told the Herald. “That [creates] a real opportunity [for this campus], and also a situation that needs to be bridged as you have more and more citizens moving into this immediate area and the surrounding areas. Having a healthcare infrastructure to further support the growth and population is not a want, it’s a need.”

 

Source:  Becker’s ASC Review

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Skilled Nursing Facility In Fort Myers Sells For $46.7M

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SRS Real Estate Partners has brokered the sale of a single-tenant, 75-bed skilled nursing facility located at 13960 Plantation Road in Fort Myers.

An entity doing business as Plantation Medical Center SNU LLC sold the property to a private 1031 investment firm based in New York City for $46.7 million. Patrick Nutt and William Wamble of SRS’ National Net Lease Group represented the seller in the off-market transaction, and Jason Maier of Stan Johnson Co. represented the buyer.

Built in 2018, the 57,650-square-foot property is situated adjacent to the Gulf Coast Medical Center and is occupied by Lee Memorial Health System’s Gulf Coast Medical Center Skilled Nursing Unit. Lee Memorial Health System has 16 years remaining on its lease term with options to extend, according to SRS.

 

Source:  RE Business

 

 

 

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Diagnostic Center For Women Renews, Expands Miami Lease

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Diagnostic Center for Women, a Femwell Group Health Company, inked a renewal and expansion encompassing over 28,711 square feet at 7500 Sw 87th Ave. in Miami.

Affiliated with TopLine MD Health Alliance, the Diagnostic Center for Women provides essential mammography, ultrasound, and biopsy services and has additional locations in North Miami, Boca Raton, and Pembroke Pines.

Situated in Galloway Medical Park 1, the medical group has more than 65 employees and is located within the desired Kendall suburban market, just minutes from other specialty physicians and Baptist Hospital’s Kendall Campus.

Healthcare real estate is often referred to as recession proof, and as many industries reduce their commercial footprint, medical groups and physicians are betting big. In fact, in 2022, investors have allocated 57% more capital to healthcare real estate when compared to 2021, according to World Property Journal.

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Moffitt Cancer Center Expanding To South Hillsborough County

Moffitt Cancer Center in Tampa

Pictured above:  Rendering of Moffitt Cancer Center in Tampa

Moffitt Cancer Center is acquiring 9 acres in south Hillsborough County to make cancer care accessible to thousands more patients.

Moffitt plans to build a new outpatient facility at the southeast intersection of East College Avenue and 27th Street South in Ruskin, less than a mile from Interstate 75.

By November, Moffitt expects to complete the purchase of land and have it rezoned, with final approval expected by the end of the year.

Moffitt plans to build a 75,000-square-foot facility with construction starting in early 2023 and completion by late 2024. Services offered will include screening and diagnostics, advanced imaging, clinical lab services, blood draw, biopsies, medical oncology, radiation oncology, infusion, pharmacy and clinical trials.

Moffitt expects to serve nearly 9,000 patients within four years and create 150 jobs its fifth year in operation.

“Moffitt is building incredible momentum to expand our footprint and bring cancer care closer to where our patients live,” said Dr. Patrick Hwu, president and CEO of Moffitt. “We are laser-focused on future expansions that will allow us to create a Moffitt health system to address the growing cancer burden in the state of Florida.”

Moffitt is also developing 775 acres in Pasco County, the largest expansion in the cancer center’s history. The new life sciences innovation district will serve as a hub for research, digital innovation, education and patient care. The multiyear, multiphase project will include about 16 million square feet of research lab, light industrial and manufacturing, general office and clinical building space.

 

Source:  Patch.com

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