News Release: Seavest brings three more tenants to its two Connecticut medical office buildings

The two Saybrook Road MOBs are part of the five-building Middletown Medical Complex, which is sponsored by the nearby 275-bed Middlesex Hospital. Please click on the image to be linked to a high-resolution version

The two Saybrook Road MOBs are part of the five-building Middletown Medical Complex, which is sponsored by the nearby 275-bed Middlesex Hospital.
Please click on the image to be linked to a high-resolution version

New users at Middletown Medical Complex include pediatric/adolescent and vascular care providers, as well as additional space for Middlesex Hospital

MIDDLETOWN, Conn., and WHITE PLAINS, N.Y., June 11, 2015 – The private investment management firm Seavest Healthcare Properties has announced significant leasing activity by three healthcare providers at its two medical office buildings (MOBs) at Middletown Medical Complex in central Connecticut. The new tenants enhance the already broad scope of services provided at the five-building Middletown campus, which is sponsored by the nearby 275-bed Middlesex Hospital.

The White Plains, N.Y.-based Seavest says leases have been signed at 520 Saybrook Road by ProHealth Pediatric & Adolescent Medical Group (prohealthmd.com/pamg/), and at 540 Saybrook Road by Southern Connecticut Vascular Center (http://thevascularexperts.com/) and Middlesex Hospital (middlesexhospital.org).

The three leases represent a total of 11,223 square feet, or about 17.5 percent of the two-building, 64,000 square foot portfolio that Seavest Properties III, a healthcare real estate private equity investment fund, acquired in 2010.

Seavest Saybrook 2

Three additional healthcare tenants have leased space at Seavest’s 520 Saybrook Road (top) and 540 Saybrook Road (bottom) medical office buildings in Middletown, Conn. Please click on the image to be linked to a high-resolution version.

Three additional healthcare tenants have leased space at Seavest’s 520 Saybrook Road (top) and 540 Saybrook Road (bottom) medical office buildings in Middletown, Conn.
Please click on the image to be linked to a high-resolution version.

“The addition of these respected pediatric/adolescent and vascular care providers and the increased activity of the hospital further expands the array of high-quality specialists, conveniently located at the Middletown Medical Complex,” says Seavest’s Malika Basheer, Vice President and Senior Asset Manager. A strategic outpatient location, Middlesex Hospital owns and operates surgery, outpatient and cancer centers at the complex.

“Middlesex Health System is a community-based not-for-profit healthcare network that is dedicated to the needs of Greater Middlesex County, Conn.,” Seavest Senior Managing Director Jonathan L. Winer says. “These recent leases confirm that Middletown Medical Complex is the location of choice for top-performing, high-quality medical providers in the Middletown area.”

The hospital now leases more than 40 percent of the MOBs, with the remainder leased by multiple independent physician practices.

Healthcare providers who are interested in leasing space in the buildings are encouraged to contact J. Richard Lee at (203) 643-1006 or rlee@orlcommercial.com for information.

About Middlesex Health System

Middlesex Health System is a community-based not-for-profit healthcare network that is dedicated to the needs of Greater Middlesex County, Conn., and its more than 250,000 residents. It is comprised of the 275-bed Middlesex Hospital and local inpatient, outpatient, diagnostic, emergency and rehabilitation facilities. Named one of the top 100 hospitals in the United States by Thomson Reuters for three of the past six years, Middlesex Hospital has about 350 active physicians on staff representing every major specialty.

About Seavest Healthcare Properties, LLC

Seavest Healthcare Properties, LLC is a sector-focused real estate investment management firm that forms joint ventures with established developers to build new properties and acquires existing 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 held in dedicated healthcare real estate investment funds. For more information, please visit www.SeavestHCP.com or call (914) 683-8474.

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