The 87,790-square-foot medical office building and ambulatory surgery center will increase access to quality healthcare in Richmond’s fast-growing western suburbs
Remedy Medical Properties, Kayne Anderson Real Estate and Bon Secours recently broke ground on a new three-story, 87,790-square-foot medical office building and ambulatory surgery center expected to be completed in late 2026.
MIDLOTHIAN, VA and CHICAGO, July 16, 2025 – A partnership of Remedy Medical Properties and Kayne Anderson Real Estate, together the nation’s largest private owners of healthcare real estate, and Bon Secours broke ground on July 9 for a new three-story, 87,790-square-foot medical office building (MOB) on the campus of Bon Secours St. Francis Medical Center in the fast-growing Richmond suburb of Midlothian.
Expected to be completed in late 2026, the new build-to-suit facility will include an 11,193-square-foot ambulatory surgery center (ASC) with two operating rooms and one procedure room. The ASC is a joint venture between Bon Secours and Compass Surgical Partners, which will be the operating partner. The MOB services are yet to be finalized but are anticipated to include neurology, cardiology, general surgery and family practice offices for Bon Secours, as well as administrative offices. Remedy will market 17,857 square feet of first-floor space to potential tenants. The 7.77-acre site will feature 345 parking spaces.
“Remedy has a long-standing relationship with Bon Secours, and its parent company Bon Secours Mercy Health (BSMH), and we are excited for the opportunity to partner with them on a ground-up development for the first time,” said Joe Magliochetti, chief investment officer at Remedy. “We have a significant presence in Virginia, with 13 buildings totaling over 584,000 square feet across the state, including three facilities totaling over 79,000 square feet in partnership with BSMH, as well as one of our regional offices.”
The project development team also includes architect PSH Plus, general contractor Kjellstrom & Lee, and civil engineer Timmons.
About Remedy Medical Properties
Remedy Medical Properties is a full-service healthcare real estate company and the largest private owner of medical properties in the country, with over 33 million square feet and 25 offices spanning 44 states. For healthcare decision-makers wanting to maximize the value of their real estate while enhancing their ability to adapt, Remedy offers unmatched flexibility and resources in ownership, development, leasing, management, and strategy. Our willingness to commit capital, share more risk, and offer greater foresight increases your resilience, profitability, and peace of mind. For more information visit www.RemedyMed.com.
About Kayne Anderson Real Estate
Kayne Anderson Real Estate is a leading real estate investment firm, managing approximately $18 billion in assets under management across opportunistic equity, core equity, and real estate debt, with sector expertise in medical office, seniors housing, off-campus student housing, multifamily housing, and self-storage. Kayne Anderson Real Estate is part of Kayne Anderson, a $38 billion alternative investment management firm with more than 41 years of successful experience across real estate, infrastructure, energy, and credit. For more information, visit www.kayneanderson.com/real-estate/. (As of June, 2025)
About Bon Secours – Richmond
Bon Secours – Richmond is part of Bon Secours Mercy Health (BSMH), one of the 20 largest health systems in the United States and the fifth-largest Catholic health system in the country. The ministry’s quality, compassionate care is provided by nearly 60,000 associates serving communities in Florida, Kentucky, Maryland, New York, Ohio, South Carolina and Virginia, as well as throughout Ireland. Bon Secours – Richmond provides compassionate medical care through a network of hospitals, primary and specialty care practices, ambulatory care sites and continuing care facilities. As one of Richmond’s largest employers, the not-for-profit health system employs more than 10,000 people, including more than 470 providers as part of the Bon Secours Medical Group. Bon Secours – Richmond includes St. Mary’s Hospital, Memorial Regional Medical Center, Richmond Community Hospital, St. Francis Medical Center, Rappahannock General Hospital, Southside Medical Center, Southern Virginia Medical Center, Westchester Emergency Center, Chester Emergency Center, Short Pump Emergency Center and Southside Emergency Care Center. Consistent with its commitment to serve each patient with dignity, BSMH provided more than $500 million dollars in community investments across five states in 2024, ensuring that cost is not a barrier to health care for our patients in need. In addition to charity care, BSMH invests in programs that address chronic illness, affordable housing, access to healthy food, education and wellness programs, transportation support, workforce development and other social determinants and drivers of health that directly affect the communities we serve. The mission of Bon Secours is to extend the compassionate ministry of Jesus by improving the health and well-being of our communities and bring good help to those in need, especially people who are poor, dying and underserved. For more information visit BonSecours.com.
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Contacts:
Remedy Medical Properties: Megan Reagan, EVP Brand & Marketing, 312-872-4120, mreagan@remedymed.com
Kayne Anderson Real Estate: Jon Keehner / Madeline Jones, Joele Frank, Wilkinson Brimmer Katcher, 212-355-4449
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