Developer To Build Assisted Living Facility In Plantation With $21M Loan

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An affiliate of SageStone Development Partners acquired a former plant nursery in Plantation and will redevelop it into an assisted living facility.

Plantation 441 Ltd, managed by Kenneth H. Simigran in Fort Lauderdale, sold the 5.8-acre site at 1019 S. State Road 7 for $3.5 million to Palms Plantation Property LLC, an affiliate of Atlanta-based SageStone. Synovus Bank awarded a $21.47 million construction loan to the buyer.

The property last traded for $1.5 million in 2005. It’s located just north of Peters Road.

The push to develop the property has been underway since 2018.

According to its website, SageStone will develop the three-story Palms of Plantation with 84 assisted living units and 27 memory care units, along with a host of amenities.

South Florida has a rapidly growing senior population, so there is strong demand for assisted living facilities.

 

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On-Campus Medical Office Building In Sarasota Sold

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HREA | Healthcare Real Estate Advisors announced the real estate sale of an on-campus medical office building located in Sarasota.

Constructed in 2003, the Silverstein Institute medical office building is 93% leased and anchored by First Physicians Group ENT (FPG), a wholly-owned subsidiary of Sarasota Memorial Health Care System. FPG is Sarasota’s foremost primary and specialty care medical group with a network of over 250 board-certified or board-eligible doctors representing wide array of specialties. FPG recently acquired Silverstein Institute, a leading research center for diagnosing and treating ENT disorders. As part of the acquisition, FPG signed a new 10-year lease.

The building is 75% occupied by the Sarasota Memorial Health Care System and located adjacent to the Sarasota Memorial Hospital (SMH) campus, an 839-bed regional medical center that is also one of the largest public health systems in Florida with nearly 7,000 professionals and more than 1,400 credentialed providers representing 60 specialties.

 

Source: Wolf Media USA

 

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New TGH Behavioral Health Hospital Coming To Tampa’s Medical District

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Tampa General Hospital is preparing to break ground in the coming months on a new TGH Behavioral Health Hospital deep in the heart of Tampa’s medical district.

It’s just the latest in a series of steps taken by TGH to bolster the area’s burgeoning medical district, which has been drawing talent, biotech and venture capital to the region.

Tampa’s medical district is transforming the area into a complete ecosystem of health care innovation: increasing access, providing greater quality care at a lower cost to patients.

“Tampa General is committed to meeting the wide spectrum of health and wellness needs of our community, including all aspects of behavioral health, which are more in demand than ever before,” said John Couris, president and CEO of Tampa General Hospital, in a statement.

The new TGH Behavioral Health Hospital will offer a full range of inpatient and outpatient services led by the region’s leading psychiatrists from USF Health.

The four-story, 83,000-square-foot facility will offer 96 inpatient beds. Tampa General Behavioral Health Hospital will be adjacent to the new Tampa General Rehabilitation Hospital.

Construction is expected to begin in 2022 or early 2023, opening is scheduled for late 2024.

 

Source:  Florida Politics

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Blackstone Sells Waterfront Assisted Facility In Jupiter For $41M

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Blackstone sold the waterfront Mangrove Bay assisted living facility in Jupiter for $41.2 million, a significant loss in value from its purchase price five years ago.

Chicago-based Ventas, a real estate investment trust, bought the 155-unit property at 110 Mangrove Bay Way from a Blackstone affiliate, according to records.

The 190,348-square-foot facility was constructed in 2002 on 6.5 acres, property records show. New York-based Blackstone had paid $71.9 million for the property in 2017.

Mangrove Bay offers independent, assisted and memory care living, according to its website. The largest unit is 1,400 square feet, with rates starting at $4,375 per month.

 

Source:  The Real Deal

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Jacksonville-Based Baptist Health’s Wolfson Children’s Hospital To Unveil Critical Care Tower With AI-Powered Tech

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Jacksonville-based Wolfson Children’s Hospital, of Baptist Health, will soon unveil a new building dedicated to neonatal and pediatric critical care.

The 7-floor building, named Borowy Family Children’s Critical Care Tower, will feature 127 beds and 122 suites equipped with new AI-powered tech. It will include a nenonatal ICU, pediatric critical care, a pediatric neuro-ICU— the first in the state, according to Wolfson—a cardiovascular ICU and a burn and wound care unit.

The hope was to “build the best critical care center in the world,” Michael Aubin, president of Wolfson Children’s Hospital, told Fierce Healthcare.

The hospital tore down a parking garage to make space for the tower. Before building the structure, hospital leadership, along with architects and tech partners, visited other buildings, reviewed plans of new construction projects and talked to other hospital leadership on the features of their facilities. Wolfson’s team also requested input on expectations from families.

 

Source:  Fierce Healthcare

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