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News Release: Seavest and Trammell Crow Company break ground for their third major MOB project in the Washington, D.C., area

FOR IMMEDIATE RELEASE

The Adventist HealthCare-anchored, 97,000 square foot, Class A Medical Pavilion II at National Harbor will bring a new level of needed healthcare services to the area

OXON HILL, Md., and WHITE PLAINS, N.Y., Oct. 6, 2020 – Seavest Healthcare Properties, a healthcare real estate investment firm, and Trammell Crow Company, one of the U.S.’s leading developers and investors in commercial real estate, broke ground this afternoon for The Medical Pavilion II, a five-story, 97,000 square foot medical office building (MOB) at National Harbor in Oxon Hill, near Washington, D.C.

The Class A medical destination, anchored by Adventist HealthCare, will be home to a full range of specialty and preventative care services. It will provide easy access from Washington, D.C., Maryland and Virginia with a dedicated exit off the Capital Beltway.

“Seavest is very pleased to join our partners in bringing a higher level of healthcare to the citizens of southern Prince George’s County and the surrounding area,” says John Winer, Senior Managing Director and Chief Investment Officer of the White Plains, N.Y.-based real estate investment firm. “This premier medical facility, strategically located in the heart of the National Harbor mixed-use waterfront development, will provide vital healthcare services, expanded access and greater convenience to this region.”

When completed in early 2022, The Medical Pavilion II at National Harbor will give Seavest over 350,000 square feet of state-of-the-art ambulatory facilities in the D.C. metro area.

The Medical Pavilion II at National Harbor will be adjacent to the National Harbor area’s only other MOB, also developed by Trammell Crow and owned by Seavest, the 95,000 square foot Medical Pavilion I, which opened in January 2019. Adventist HealthCare also partnered with Seavest and Trammell Crow for the development of the 169,000 square foot Medical Pavilion at White Oak, which opened in February 2020 on the campus of the new Adventist HealthCare White Oak Medical Center in Silver Spring, Md.

“Adventist HealthCare is delighted to join with this trusted national healthcare team once again on another project that aligns with Adventist’s strategy and commitment to provide quality compassionate care throughout the metropolitan area,” says Terry Forde, President and CEO of Adventist HealthCare. “The National Harbor facilities will serve as a strategic link between our nearby Adventist HealthCare Fort Washington Medical Center and the new primary care facility, minutes away from the hospital. Together, these facilities will provide the patient-focused services that are essential to meeting the healthcare needs of our community.”

“We are proud to work with Adventist HealthCare to create this outpatient facility and to join with Seavest to realize another landmark healthcare project,” says Trammell Crow Company Managing Director Eric Fischer. “National Harbor is an ideal location for this advanced outpatient facility. It is easily accessible from points in Prince George’s County as well as Washington, D.C. and Virginia. National Harbor provides a superior patient and visitor experience as there is a range of nearby amenities available to patients and their families. This project will truly enhance the healthcare services available to area residents.”

Other key members of the project team include the architect, MGMA, and the general contractor, McCloud Builders.

“We are in a unique position to respond to the chronic healthcare challenges that affect southern Prince George’s County and extend to parts of Washington, D.C.,” says Mr. Forde of Adventist HealthCare. “We must look to create more convenient healthcare experiences in the communities we serve that are lacking comprehensive care.”

Adventist HealthCare plans to provide these comprehensive services at National Harbor: an Ambulatory Surgery Center offering orthopedic, ophthalmic, cardiovascular and general surgery; diagnostic imaging services; a Cancer Center offering breast, colorectal, prostate and other cancer care; additional outpatient services such as a vascular clinic, catherization lab, rehabilitation center, and wound care treatment.

National Harbor is a 350-acre mixed-use development on the banks of the Potomac River, about eight miles from downtown Washington, just south of the U.S. Interstate 295/495 Capital Beltway Outer Loop interchange. Like The Medical Pavilion I, The Medical Pavilion II will be located within close proximity to the many desirable elements of the popular waterfront development, which includes traditional office space, 2,500 residential units, numerous hotels, more than 10,000 on-site parking spaces and more than 1 million square feet of retail, dining and entertainment space.

National Harbor is in an affluent area of Prince George’s County, bordering on the eastern side of the District of Columbia. Within a 5-mile radius, 92.3 percent of the population has health insurance, with 66.3 percent of the population having private insurance. Additionally, the 124,107 local households have an average income of $117,932.

A limited number of medical office suites are still available for lease at The Medical Pavilions I and II at National Harbor. For information, please contact Matt Sullivan of Cushman & Wakefield at (202) 266-1187 or matt.sullivan@cushwake.com or Lindsey Groom of Cushman & Wakefield at (202) 266-1303 or lindsey.groom@cushwake.com.

About Adventist HealthCare

Adventist HealthCare, based in Gaithersburg, Maryland, is one of the longest-serving health systems in the Washington, D.C., region. The system is one of the largest employers in Maryland and was recently named a top 20 Best-in-State Employer by Forbes and Statistia, Inc. It includes Shady Grove Medical Center, White Oak Medical Center, Fort Washington Medical Center, Adventist HealthCare Rehabilitation, Home Care Services, Adventist Medical Group, Imaging and Urgent Care. Our mission is to extend God’s care through the ministry of physical, mental and spiritual healing. For more information, please visit AdventistHealthCare.com.

About Trammell Crow Company

Trammell Crow Company (TCC), founded in 1948, is one of the nation’s leading developers and investors in commercial real estate. The Company has developed or acquired 2,700 buildings valued at nearly $65 billion and over 590 million square feet. As of June 30, 2020, TCC had $13.7 billion of projects in process and $6.1 billion in its pipeline. It employs more than 550 professionals in the United States and the United Kingdom.

Trammell Crow Company’s teams are dedicated to building value for its clients with professionals in 18 major cities throughout the United States and London. The company serves users of and investors in office, industrial, retail, healthcare, multi-family residential, through its operating subsidiary High Street Residential, and mixed-use projects. For those who occupy real estate, TCC can execute the development or acquisition of facilities tailored to meet the needs of its clients. For investor clients, the company specializes in joint venture speculative development, acquisition/re-development ventures, build-to-suit development and providing incentive-based fee development services.

TCC is an independently operated subsidiary of CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Los Angeles, and the world’s largest commercial real estate services and investment firm (in terms of 2019 revenue). For more information visit www.TrammellCrow.com.

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 buildings and outpatient facilities located throughout the United States. For more information, please visit SeavestHCP.com.

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Media Contact: Erin Molloy, Seavest Healthcare Properties, EMolloy@Seavestinc.com, (914) 269-0921

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