The 149,000 square foot Beaumont Medical Center in West Bloomfield, Mich., offers a wide range of services, including surgery, children’s rehabilitation and adult physical therapy/occupational therapy
Real estate investment management firm secures new financing for the three-story, 149,000 square foot Beaumont Medical Center in West Bloomfield, Mich.
WEST BLOOMFIELD, Mich., and WHITE PLAINS, N.Y., April 9, 2014 – Seavest Healthcare Properties has closed on $29 million in new long-term financing for the Beaumont Medical Center in West Bloomfield, one of Money magazine’s “100 Best Places to Live.” The three-story, 149,000 square foot outpatient center and medical office building (MOB) is located on 11 acres at 6900 Orchard Lake Rd., in a well-known, upscale retail and office destination. The majority of the building is leased by Beaumont Health System with the rest occupied by affiliated, independent physician practices.
Seavest and KIRCO Health Partners acquired the property in December 2012. The new loan from MB Financial Bank, which closed in December, replaced the existing loan.
“Our responsibility is to ensure that Beaumont Medical Center operates at the high standards expected by its tenants and visitors” explains Jonathan L. “John” Winer, Senior Managing Director of Seavest Healthcare Properties. “Once we acquired the building and instituted our operating procedures obtaining long-term financing was the next part of our strategy. Seavest was able to capitalize on the strength of the lending market and our significant track record in the field to secure advantageous financing.”
Beaumont Medical Center opened in 1989 and was significantly expanded and modernized in 2007. The outpatient medical campus includes the Beaumont West Bloomfield Ambulatory Surgery Center LLC, which provides general surgery, orthopedics, vascular surgery and plastic surgery. The MOB also houses a wide range of other specialties, including cardiology diagnostics, children’s rehabilitation, nuclear medicine, adult physical therapy/occupational therapy, radiology, lab services and a pharmacy.
About Seavest Healthcare Properties LLC
Seavest Healthcare Properties LLC is a real estate investment management firm focused on the medical office and outpatient facility sector. The firm acquires existing properties, joint ventures with established developers to build new properties, and asset manages medical office buildings, outpatient facilities and similar healthcare real estate assets. A pioneer in this sector, Seavest made its first healthcare real estate investment in the mid-1980s. Today, the firm has a significant portfolio of medical office and outpatient properties which are controlled through dedicated healthcare real estate investment funds. For more information, please visit www.SeavestHCP.com or call (914) 683-8474.
The full content of this article is only available to paid subscribers. If you are an active subscriber, please log in. To subscribe, please click here: SUBSCRIBE
Comments are closed, but trackbacks and pingbacks are open.