PROJECT WILL BE FIFTH DEVELOPMENT FIRM HAS DONE FOR FLORIDA HOSPITAL
Staff Reports
At a time when the capital market is extremely tight, White Plains-based Seavest Inc. recently secured an $11 million construction loan for a 60,000 square foot medical office building (MOB) in Orlando, Fla.. The Surgical Medical Plaza MOB is under construction on the campus of East Orlando Hospital, part of the Orlando-based Florida Hospital health system. This facility is the fifth project for which Seavest has been a partner with Florida Hospital, part of Winter Park, Fla.-based Adventist Health System.
Seavest, which is working with Chicago-based Lillibridge Health Care Services on the development, will own the property and secured the construction loan.
The hospital wanted a new MOB to attract and house new physicians as well as employed physician medical groups. The goal is to have a diverse group of medical specialties, many of whom would utilize the new 12,000 square foot ambulatory surgery center, which will occupy the entire first floor. The project is scheduled for completion in the fall of 2009.
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