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News Release: Mortenson and Seavest top out Providence MOB and Wellness Center in suburb of Portland, Ore.

The two-story, 118,060-square-foot MOB and wellness center at Reed’s Crossing will provide a full complement of healthcare services to the growing South Hillsboro community

Seavest Healthcare Properties and Mortenson Development Inc. topped out construction on Providence Family Wellness Center and Medical Office Building, a 118,060 square foot combination medical office building and wellness center in Hillsboro, Ore.

HILLSBORO, Ore., July 14, 2021 – Seavest Healthcare Properties and Mortenson topped out construction of a medical office building (MOB) project for Providence in Hillsboro, 12 miles west of downtown Portland.

Representatives from the three entities gathered June 25 to celebrate the topping out of Providence Family Wellness Center and Medical Office Building, a two-story, 118,060-square-foot integrated MOB and wellness center on a 5.23-acre site in the 463-acre Reed’s Crossing mixed-use development in South Hillsboro. The steel topping out is a major milestone celebrated when the highest or last steel beam is placed in a building under construction.

When its doors open, Providence Family Wellness Center and Medical Office Building will offer clinical services such as primary care, pediatrics, behavioral health, sports medicine, women’s health, dermatology, cardiology, urgent care, diagnostic imaging, and rehabilitation and sports therapy. The facility will feature a state-of-the-art wellness center operated by Active Wellness.

“Seavest is proud to join with Mortenson and Providence to deliver a fully integrated health and wellness facility to the growing South Hillsboro area,” says Seavest Senior Managing Director and Chief Investment Officer John Winer. “We take great pride in being part of this project that will offer residents of the area access to wellness services. Helping people focus on wellness and preventive care is key to reducing healthcare costs and establishing healthy lifestyles. This advanced center will be an asset fostering the health and wellness goals of the community.”

“The partnership between Mortenson, Seavest and Providence has been tremendous,” said Dan Lessor, Director of Real Estate for the Pacific Northwest at Mortenson. “It is exciting to work with this great team on the master-planned community of Reed’s Crossing, which will deliver a new benchmark in community health. We are thrilled to see this project come together and the community take shape around it.”

“Providence is honored to partner with Seavest, Mortenson Development, and Mortenson Construction to bring the area’s first medically integrated health and wellness center to Reed’s Crossing and South Hillsboro,” says Kerrie Bartel-Christensen, Vice President Real Estate Strategy and Operations, Providence “As we move beyond the iterative treatment of disease to focus on population health, Providence Health Center-Reed’s Crossing will give our patients a connected and comprehensive plan for wellness. We would like to thank Mortenson and Seavest for helping us turn our vision into reality.”

Providence issued an RFP in mid-2019 and Mortensen was awarded the project in early 2020. Mortenson identified this site and implemented a business plan that included developing a project that seamlessly integrates wellness space with a medical office facility.

Hillsboro, the fifth largest city in Oregon, serves as a technology and manufacturing hub for the Portland MSA. It is part of what is known as the “Silicon Forest,” the industrial corridor between Beaverton and Hillsboro, and home to a cluster of high-tech companies such as Intel and IBM. Reed’s Crossing, the largest planned development in the state’s history, where the Providence Family Wellness Center and Medical Office Building will be located, serves as a gateway to South Hillsboro. Reed’s Crossing will supply half of the anticipated 8,000 homes in South Hillsboro, providing strong demographics, high visibility and convenient access.

For Seavest, the project represents its continuing collaboration with Mortenson. The two firms recently partnered on a 43,732-square-foot, Class A MOB being developed in the Candelas master-planned community in Arvada, Colo.

Construction on Providence Family Wellness Center and Medical Office Building is expected to last 11 more months, with an opening scheduled for the end of May 2022. Other key members of the project team include Portland, Ore.-based architect Ankrom Moisan.

About Providence

Providence is a national, not-for-profit Catholic health system comprising a diverse family of organizations and driven by a belief that health is a human right. With 51 hospitals, 829 physician clinics, senior services, supportive housing and many other health and educational services, the health system and its partners employ more than 119,000 caregivers serving communities across seven states – Alaska, California, Montana, New Mexico, Oregon, Texas and Washington – with system offices based in Renton, Wash., and Irvine, Calif. For more information, please visit www.providence.org.

About Mortenson

Mortenson is a U.S.-based, top-20 builder, developer, and engineering services provider serving the commercial, institutional, and energy sectors. Mortenson’s expanding portfolio of integrated services helps its customers move their strategies forward, ensuring their investments result in high-performing assets. The result is a turnkey partner, fully invested in the business success of its customers. Founded in 1954, Mortenson has operations across the U.S. with offices in Chicago, Denver, Fargo, Iowa City, Milwaukee, Minneapolis, Phoenix, Portland, San Antonio, Seattle, and Washington, D.C. For additional information, visit www.mortenson.com.

About Seavest Healthcare Properties LLC and the Seavest Investment Group LLC

Seavest Investment Group, LLC is a real estate and social impact directed venture capital investment management firm. Seavest Healthcare Properties, an affiliate, focuses on investments in 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. Seavest made its first healthcare real estate investment in 1989 and today has a significant portfolio of institutional quality, strategic medical office buildings and outpatient facilities located throughout the United States. For more information, please visit seavesthcp.com.

For non-media related inquiries, please contact David Braunstein at dbraunstein@seavesthcp.com or at (914) 269-0911.

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