News Release: Rendina Healthcare Real Estate Celebrates the Grand Opening of Innovative Healthcare Facility with PAM Health

News Release: Rendina Healthcare Real Estate Celebrates the Grand Opening of Innovative Healthcare Facility with PAM Health

NEWS PROVIDED BY Rendina Healthcare Real Estate

12 Jun, 2023, 14:00 ET

Rendina Healthcare Real Estate – PAM Health Rehabilitation Hospital of Jupiter

JUPITER, Fla., June 12, 2023 /PRNewswire/ — Rendina Healthcare Real Estate is pleased to announce the successful opening of the PAM Health Rehabilitation Hospital of Jupiter. This milestone represents our ongoing commitment to providing cutting-edge healthcare environments that meet the evolving needs of patients and healthcare providers.

Rendina Healthcare Real Estate Celebrates the Grand Opening of Innovative Healthcare Facility with PAM Health.

Located in the heart of Jupiter, FL, the PAM Health Rehabilitation Hospital of Jupiter is a collaboration between Rendina Healthcare Real Estate and PAM Health. This innovative facility aims to revolutionize the healthcare landscape by offering comprehensive medical and rehabilitative services to the community.

The PAM Health Rehabilitation Hospital of Jupiter is a modern, 48,000 square foot, 42-bed inpatient rehabilitation hospital equipped with the latest advancements in medical technology. The facility provides a wide range of specialized services, including physical therapy, occupational therapy, speech therapy, and more. Its multidisciplinary team of highly skilled healthcare professionals is dedicated to delivering personalized care and optimizing patient outcomes.

“We are proud to announce the opening of the PAM Health Rehabilitation Hospital of Jupiter, which embodies our commitment to creating exceptional healthcare environments,” said Richard M. Rendina, Chairman and CEO of Rendina Healthcare Real Estate. “This facility will play a vital role in enhancing the quality of care available to the residents of Palm Beach and Martin County, and we were honored to collaborate with PAM Health to make this vision a reality.”

The PAM Health Rehabilitation Hospital of Jupiter features a patient-centric design that prioritizes comfort, privacy, and convenience. The facility’s spacious patient rooms, advanced rehabilitation gymnasiums, and cutting-edge therapy equipment ensure that patients receive the highest standard of care in a comfortable and supportive environment.

Florida’s repeal of CON requirements for rehabilitation hospitals as of July 1, 2021, paved the way for PAM Health and Rendina to satisfy an unmet need in the community for inpatient rehabilitation services.

With a proven track record of delivering successful projects, Rendina continues to collaborate with healthcare providers to create facilities that promote healing, foster innovation, and positively impact the communities they serve.

SOURCE Rendina Healthcare Real Estate

News Release: Brown to publicly present plans for life sciences building, athletics practice facility in June

Pending approval from the City of Providence, the University plans to build a new laboratory space for cutting-edge life sciences research and boost its athletics program with a proposed new indoor training facility.

PROVIDENCE, R.I. [Brown University] — After key approvals by its governing board in late May, Brown University will present plans for a new life sciences building and athletics practice facility during a series of public meetings in June.

The Corporation of Brown University at its recent business meeting approved the site for construction of Brown’s planned integrated life sciences building, announced in 2022. The selected location for the 300,000-square-foot, seven-story research facility will be on Richmond Street in the heart of Providence’s Jewelry District, across from Brown’s Warren Alpert Medical School near Ship and Elbow streets.

With state-of-the-art laboratory space for scientists working on pressing health challenges, the building will serve as a new focal point in a neighborhood becoming a nexus for biomedical innovation. It will contribute to the vitality and energy of the streetscape with publicly accessible interior spaces on the ground floor and incorporated green spaces on site.

A separate Corporation vote paved the way for the University to move forward with selecting an architect for an indoor practice facility planned at the Erickson Athletic Complex on the northeast corner of the College Hill campus. As envisioned, the 76,000-square-foot facility would replace the current Meister-Kavan Field, moving existing activities to an enclosed building and mitigating noise impacts on neighbors. The building would also advance Brown’s capacity for varsity, intramural and recreational sports activity.

“Our goal is to move forward with two projects that advance University goals for research and for athletics in a way that simultaneously aligns with the aspirations and needs of the State of Rhode Island, the City of Providence and the College Hill and Jewelry District neighborhoods.”

RUSSELL CAREY Executive Vice President for Planning and Policy at Brown

Russell Carey at podium
Brown leaders will detail plans for both projects in meetings with local residents, neighborhood associations, community groups and elected officials through the end of June. Input from those discussions will inform project plans and an Institutional Master Plan that Brown will submit to the City of Providence. The city requires a formal master planning process preceding new phases of physical development for higher education and health care institutions across Providence.

“As part of our broader commitment to being a good neighbor, Brown’s planning process is open and iterative with ample opportunity for input from members of the local community,” said Russell Carey, executive vice president for planning and policy. “Our goal is to move forward with two projects that advance University goals for research and for athletics in a way that simultaneously aligns with the aspirations and needs of the State of Rhode Island, the City of Providence and the College Hill and Jewelry District neighborhoods.”

The University prepares a new Institutional Master Plan at five-year intervals. While Brown Corporation decisions mark key institutional milestones for the projects, Brown’s planning efforts are carefully coordinated with the City of Providence. Brown most recently submitted a full IMP in 2017, and updated it with amendments to account for plans developed in the intervening years.

University leaders expect to submit a new plan for review by Providence’s City Plan Commission in August, outlining the integrated life sciences building and athletics projects in detail.

State-of-the-art life science labs and publicly accessible spaces
The Corporation’s site approval moves Brown one step closer to realizing a long-held vision to create an integrated life sciences building with state-of-the-art laboratory space for researchers in biology, medicine, brain science, bioengineering and public health. Dr. Mukesh K. Jain, senior vice president for health affairs and dean of medicine and biological sciences, said a modern facility with the lab space, technology and infrastructure to enable cutting-edge research will enable the University to make an even greater positive impact, while advancing Rhode Island’s growing presence in the life sciences sector.

“The life sciences at Brown continue to grow at a robust rate, and this building meets a critical infrastructure need that ensures our research and discovery will continue to grow and thrive, and impact communities in meaningful ways,” Jain said. “By developing the laboratory capacity of Brown and our partners, we can also help propel Rhode Island forward as a center for biotech research and innovation.”

The facility will be located directly between Brown’s medical school building at 222 Richmond St. and Laboratories for Molecular Medicine at 70 Ship St. The location will offer scientists the opportunity to collaborate with researchers and physicians at Brown’s Warren Alpert Medical School, School of Public Health and affiliated hospital partners. The facility — which will be made possible, in part, by donor funds — will replace University-owned buildings at 233 and 261 Richmond St., providing ample space for Brown research centers to grow and to flourish, said University Architect Craig Barton.

“The Richmond Street site meets all of our key considerations for the integrated life sciences building,” Barton said. “Situated near the medical school and other labs, the location will encourage new opportunities for integrated and collaborative engagement among Providence’s growing biomedical research community, while also offering the space and flexibility we’ll need for emerging, cutting-edge research activity and growth.”

Architects from TenBerke and Ballinger are working with Brown leaders and key stakeholders to design the facility, which will support research teams from Brown’s Division of Biology and Medicine, School of Engineering and Carney Institute for Brain Science, among other units. As outlined in early schematic designs being developed (which include overall building layouts, rough design sketches and preliminary plans for programming), the building will feature open labs, offices and collaborative spaces, all designed with the flexibility to meet the shifting research needs of scientists over time.

To create an integrated landscape that promotes pedestrian activity and reduces stormwater and heat island effects, the University plans to create new urban green spaces that strengthen connections between Richmond, Elbow and Ship streets while providing outdoor seating and gathering areas for public respite and enjoyment. The building is also expected to include a ground floor café and community spaces, offering publicly accessible event rooms and exhibition space. Brown is also exploring the potential for a teaching space.

Brown will seek approval from the city for a seven-story, 130-foot building. This will match the height of a nearby building at 150 Richmond Street being developed by Ancora L&G that will house a new public health lab for the State of Rhode Island as well as laboratory space for Brown and other academic and commercial life science entities. The massing approach will include setbacks and architectural shaping at the building’s top and bottom to ensure it feels nestled into the surrounding neighborhood.

Jain noted that the ILSB is one instrumental priority as Brown makes new investments in space, staffing and infrastructure to support its Operational Plan for Investing in Research, a roadmap to propel research across all fields of study to new levels of excellence. The project will add to a series of major Brown investments in the Jewelry District, now home to significant academic, research, administrative and residential space. The expanding array of life sciences activity prompted by Brown’s presence has helped to attract new development from private partners including Wexford Science + Technology, Ancora L&G and CV Properties, among others, supporting economic vibrancy in Providence and supporting city and state workforce development goals.

As the University completes its Institutional Master Plan and works through city reviews, an ILSB project team with representatives from Brown, TenBerke, Ballinger and Shawmut Design and Construction will launch an extensive pre-construction phase to refine building programming, advance design concepts and assess building materials and systems. While a target timeline for the full project will emerge and be refined during the planning, and with continued progress in fundraising, the University estimates construction completion in the range of three to four years.

Indoor practice facility for Brown Athletics
The approval to proceed with selecting an architect for a new indoor practice facility to replace an existing outdoor field marks the first step in planning for a Brown Athletics resource that will help student-athletes compete at the highest level. The facility would enable coaches to optimize training for teams, and engage more campus community members in club sports, intramural activities and wellness initiatives.

Architect selection for the athletics project is expected to take three months, kicking off a process toward planning, designing and building the facility, pending additional approvals. The University expects the project to be funded in its entirety by donors.

“Our strategic plan started with foundational beliefs that all students should have access to wellness programs, which is important not just for physical well-being, but for mental and emotional well-being,” said Vice President for Athletics and Recreation Grace Calhoun. “An indoor field house will transform the types of programs we can offer and the quality of the everyday experience for students — everyone from the casual weekly visitor to the most competitive varsity student-athlete who wants to compete for a national championship.”

Brown’s current Meister-Kavan Field, an outdoor practice field for varsity teams, is envisioned as the proposed site for the 76,000-square-foot indoor facility. The site is located within Brown’s athletic complex directly behind the Olney-Margolies Athletic Center. The project would replace the outdoor practice field with an indoor facility featuring a 52,000-square-foot turf playing surface, an entry lobby, restrooms and space for equipment storage.

The current Meister-Kavan Field is envisioned as the site for a new 76,000-square-foot indoor practice facility. The site is located within Brown’s athletic complex, directly behind the Olney-Margolies Athletic Center. Site rendering by NBBJ Design.
The new building seeks to address a critical infrastructure need for Brown Athletics — a lack of indoor training space for field sports. Given weather conditions in New England, Brown’s baseball, field hockey, football, lacrosse, rugby, soccer and softball teams have insufficient time for outdoor training from November through April. This puts teams at a competitive disadvantage compared with schools in different climates or with indoor practice facilities. An indoor field house would provide a controlled environment for year-round training, regardless of weather.

The facility would also allow Brown to expand intramural sports programs and grow undergraduate participation in recreation, creating a new space for year-round wellness activities ranging from soccer and kickball to flag football, ultimate frisbee and group fitness classes. Brown Athletics administrators note that there is high demand for physical fitness activities, and new intramural programs made possible by an indoor facility could more than double the number of student participants to 2,500.

Moving current sports activities from Meister-Kavan Field to an indoor facility would mitigate noise and other impacts to nearby residential neighborhoods. And because the building will not be a spectator venue, Brown leaders anticipate no increase in traffic or parking congestion.

A recent study by transportation planning company VHB assessed parking and traffic conditions near the Erickson Athletic Complex with a focus on patterns related to athletic events. The findings indicated sufficient area parking: Of the 2,044 on-street and lot parking spaces within an 8-minute walk of the complex, roughly 60% were occupied in peak times, on a sample of Saturdays throughout the spring sports season. The study also identified underused Brown parking lots, which the University expects to use in new ways to expand general parking capacity in the area — for example, redirecting visiting teams to these lots.

Pending additional approvals, construction for the indoor practice facility is targeted to begin in Summer 2024 and last approximately 18 months.

[Editor’s Note: This story was updated on June 9, 2023, to include information about funding for each project.]

News Release: SRS Real Estate Partners’ National Net Lease Group Completes $10.65 Million Sale of a Newly Developed Single-Tenant Property Occupied by Optima Dermatology in Macedonia, OH

Troy, MI (June 12, 2023) – SRS Real Estate Partners’ National Net Lease Group (NNLG) announced today it has completed the $10.65 million sale of a newly developed, 15,500-square-foot (sf) medical property fully leased to Optima Dermatology. Located at 8183 Golden Link Boulevard in Macedonia, OH, the property has a 15-year, absolute triple-net lease in place.

SRS NNLG’s Vice Presidents Michael Carter and Frank Rogers and Greg Guyuron, an Executive Vice President with Anchor Cleveland, represented the seller, a private developer. The buyer was a New Jersey-based private investor, in a 1031 exchange. The closing cap rate was 6.5%.

“The property was completed this year and is a state-of-the-art surgery and research center featuring a long-term lease,” said Carter. “Additionally, the asset offers the new ownership zero landlord responsibilities and is well-located within an area that provides a direct consumer base for the user.”

The property is within The Crossings at Golden Link, a more than 400,000-sf power center anchored by Lowe’s Home Improvement. It is also directly across from Macedonia Commons, a 612,000-sf power center anchored by Walmart Supercenter, The Home Depot and Kohl’s. Optima Dermatology is situated along State Highway 8 with clear visibility and access to the average 48,800 vehicles passing by daily.

In 2022, SRS’ Investment Properties Group (IPG) and National Net Lease Group (NNLG) completed more than $2.9 billion in deal volume comprised of 760 transactions in 48 states. SRS currently has in excess of 445 properties actively on the market with a market value surpassing $2.2 billion.

About SRS Real Estate Partners

Founded in 1986, SRS Real Estate Partners is building upon its retail foundation to provide extensive commercial real estate solutions to tenants, owners, and investors. Headquartered in Dallas, with more than 25 offices in the U.S., SRS has grown into one of the industry’s most influential and respected leaders. Our commitment to excellence is strengthened by our Guarantee of Value and our success is measured in the achievement of our clients’ objectives, satisfaction, and trust. For more information, please visit srsre.com.

SRS’ Investment Properties Group (IPG) & National Net Lease Group (NNLG) is a unified platform of seasoned net lease professionals located and transacting nationally with all underwriting and marketing efforts strategically located in Southern California. In 2022, the group completed more than 760 sales across 48 states and has over 160 brokerage professionals nationally. From proactive sales to targeted acquisitions and tailored debt and equity solutions, SRS’ National Net Lease Group offers comprehensive services to net lease owners and investors. Superior speed-to-market, world-class marketing materials, a deep investor database and unparalleled retail submarket intelligence from the entire SRS platform allow SRS’ National Net Lease Group to deliver the best possible returns. For more information, please visit srsnnlg.com.

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Darcie Giacchetto
The Spaulding Agency
949.278.624

News Release: Meet Our Newest Member of HREA: Timothy J. Cajka

HREA | Healthcare Real Estate Advisors, a national leader in providing healthcare real estate advisory and capital market solutions, is pleased to announce that Tim Cajka has joined the firm as Director of Healthcare Real Estate – Investment Sales.

Tim is a proven healthcare executive with extensive experience in business development, operations, and client engagement, both in commercial real estate and in healthcare provider and financial service roles. Tim started his real estate career with CBRE, a global commercial real estate advisory firm, where he spent 10 years advising and representing corporate office users and development companies.

After CBRE, Tim went on to serve in national leadership roles with Quest Diagnostics, DaVita, and GE Capital where he successfully spearheaded many key organizational growth strategies and customer experience initiatives.

“The healthcare real estate industry has continued to evolve and has become more complex, which requires broad technical expertise”, said Christopher Stai, Managing Director of HREA. Adding, “We are very happy to have Tim join the HREA team. His experience and diverse background will provide our clients with a unique perspective, pairing healthcare industry knowledge with real estate capital markets expertise. Tim is going to help us further drive growth, continue to deliver unparalleled client satisfaction, and improve organizational efficiencies.”

“I am excited to join HREA and support its continued growth and success in providing our clients with unique expertise and exceptional outcomes”, said Tim. Originally an Ohio native, Tim now resides in San Diego where he and his wife enjoy time with their 3 grown children and 3 grandchildren. In his spare time, he sits on the Board of a local non-profit healthcare clinic.

About HREA

HREA | HEALTHCARE REAL ESTATE ADVISORS is a national leader in advising healthcare providers and real estate owners with various real estate strategies, including disposition, sale[1]leaseback, debt & equity recapitalization, and tax-deferred options, such as the Hybrid Sale-Leaseback®, §1031 Exchange, and the UPREIT model, which provides investors with a diversified investment in a REIT.

HREA also provides healthcare practice groups with customized development and expansion services, including site selection, design, construction and permanent financing, construction management, as well as a future take-out partner.

HREA’s advisory team has completed over $4 billion in healthcare real estate transactions throughout the U.S. With an exclusive focus on healthcare real estate and simplifying complex transactions, HREA is uniquely capable in providing solutions and outcomes that are tailored to each client

ABOUT HREA | OUR SERVICES | REPRESENTATIVE TRANSACTIONS |NEWS | CONTACT US

CHRISTOPHER L. STAI, CPA
Managing Director
480.433.3494
cstai@healthcareREA.com
CA Broker Lic. #: 01836740
NC Broker Lic. #: 337848
Raleigh, NC

MICHAEL ALTIERI, CCIM
Director
704.770.8483
maltieri@healthcareREA.com
NC Broker Lic.#: 234557
SC Broker Lic.#: 104058
GA Broker Lic.#: 384804
Charlotte, NC

MIKE SPISAK
Director
(503) 858-8764
mspisak@HealthcareREA.com
CA Lic. #: 02003307
San Diego, CA

ANTHONY NATICCHIONI
Director
951.377.3114
anaticchioni@HealthcareREA.com
CA Broker Lic. #: 01179234
Orange County, CA

TIMOTHY J. CAJKA
Director
(619) 961-5258
tcajka@HealthcareREA.com
CA Lic. #: 00870357
San Diego, CA

RYAN V. MICHAELS
Senior Associate
(760) 815-0421
rmichaels@HealthcareREA.com
CA Lic. #: 02132328
San Diego, CA

News Release: Kennedy Wilson Acquires First Tranche of $5.7 Billion Loan Portfolio From Pacific Western Bank

Off-market transaction will expand Kennedy Wilson’s national footprint and debt investment platform by initially adding over $2 billion to fee-bearing capital

BEVERLY HILLS, Calif.–(BUSINESS WIRE)– Representing one of the first significant real estate debt transactions in this market cycle, global real estate investment company Kennedy Wilson (NYSE: KW) has closed on the initial tranche of loans as part of a $5.7 billion loan portfolio acquisition from Pacific Western Bank. The first tranche of loans acquired by Kennedy Wilson and certain controlled affiliates of Fairfax Financial Holdings Limited (collectively, “Fairfax”)(TSX:FFH and FFH.U), a long-time partner of Kennedy Wilson, totaled $3.25 billion in total commitments and $1.8 billion in current principal balance. The first tranche of loans was acquired for $1.6 billion. An additional 12 loans totaling $800 million in commitments are expected to close on a rolling basis by no later than the end of July (collectively, “Loan Portfolio”).

The Loan Portfolio is comprised of floating-rate construction loans that carry a weighted-average interest rate of approximately 8.6%, with approximately 80% of the portfolio secured by high-quality multifamily and student housing properties and the remainder including mainly industrial, hotel, and life science assets. The Loan Portfolio consists of loans located in Kennedy Wilson’s key Western U.S. markets and expands the company’s footprint into new regions across the southern and eastern United States.

In its role as asset manager, Kennedy Wilson will earn customary fees and will have an ownership of 5% in the Loan Portfolio. The company is also finalizing arrangements with Pacific Western Bank for certain employees that originated and currently manage the Loan Portfolio to join the Kennedy Wilson team.

The $5.7 billion in loans arranged by Kennedy Wilson includes the $4.1 billion Loan Portfolio, $1.2 billion of loan commitments to be purchased by a third party ($970 million of which have already been acquired), and $400 million of loans subject to further due diligence.

“The acquisition of this Loan Portfolio from Pacific Western Bank highlights Kennedy Wilson’s historic ability to find off-market transactions during periods of uncertainty, move with speed, and build on our successful track record of investing through all real estate cycles,” said William McMorrow, Chairman and CEO at Kennedy Wilson. “The foundations of Kennedy Wilson are our deep relationships, our reputation as a great partner, and our strength in being nimble when opportunity arises; all of which came into play with this loan portfolio acquisition.”

“We are pleased to expand our debt portfolio in such a significant way, which strategically positions our private credit platform for substantial future growth,” said Matt Windisch, Executive Vice President at Kennedy Wilson. “We look forward to welcoming members of the Pacific Western Bank team to Kennedy Wilson as we further strengthen our debt capabilities and capacity.”

“We appreciate our long-standing relationship with Kennedy Wilson and are pleased to partner with them to successfully execute this asset sale. This transaction will improve our liquidity and capital as we continue to implement our announced strategy to return our focus to relationship-based community banking,” said Paul Taylor, President and CEO of Pacific Western Bank.

The Loan Portfolio acquisition contributes to the rapid expansion of Kennedy Wilson’s global debt platform, which launched in 2020 and today totals $7 billion in total gross commitments, including future fundings and deals under contract, with significant capacity for growth.

About Kennedy Wilson

Kennedy Wilson (NYSE:KW) is a leading global real estate investment company. The company owns, operates, and invests in real estate through the balance sheet and through an investment management platform across the Western United States, United Kingdom, and Ireland. Kennedy Wilson primarily focuses on multifamily and office properties as well as industrial and debt investments in the investment management business. For more information on Kennedy Wilson, please visit: www.kennedywilson.com.

About PacWest Bancorp

PacWest Bancorp (“PacWest”) is a bank holding company headquartered in Los Angeles, California, with an executive office in Denver, Colorado, with one wholly-owned banking subsidiary, Pacific Western Bank (the “Bank”). Pacific Western Bank is a relationship-based community bank focused on providing business banking and treasury management services to small, middle-market, and venture-backed businesses. The Bank offers a broad range of loan and lease and deposit products and services through full-service branches throughout California and in Durham, North Carolina and Denver, Colorado, and loan production offices around the country. For more information about PacWest Bancorp or Pacific Western Bank, visit www.pacwest.com.

KW-IR

Special Note Regarding Forward-Looking Statements

Statements in this press release that are not historical facts are “forward-looking statements” within the meaning of U.S. federal securities laws. These forward-looking statements are estimates that reflect our management’s current expectations, are based on our current estimates, expectations, forecasts, projections and assumptions that may prove to be inaccurate and involve known and unknown risks. Accordingly, our actual results, performance or achievement, or industry results, may differ materially and adversely from the results, performance or achievement, or industry results, expressed or implied by these forward-looking statements, including for reasons that are beyond our control. Some of the forward-looking statements may be identified by words like “believes”, “expects”, “anticipates”, “estimates”, “plans”, “intends”, “projects”, “indicates”, “could”, “may” and similar expressions. These statements are not guarantees of future performance and involve a number of risks, uncertainties and assumptions. We assume no duty to update the forward-looking statements, except as may be required by law.

Investors

Daven Bhavsar, CFA
Vice President of Investor Relations
+1 (310) 887-3431
dbhavsar@kennedywilson.com

Media

Emily Heidt
Vice President, Communications
+1 (310) 887-3499
eheidt@kennedywilson.com

News Release: Bristol Myers Squibb Receives U.S. FDA Approval of New State-of-the-Art Cell Therapy Manufacturing Facility in Devens, Massachusetts

The company’s third commercial CAR T manufacturing facility in the U.S. further extends Bristol Myers Squibb’s leadership in cell therapy

June 08, 2023 04:16 PM Eastern Daylight Time

PRINCETON, N.J.–(BUSINESS WIRE)–Bristol Myers Squibb (NYSE: BMY) today announced that the U.S. Food and Drug Administration (FDA) has approved commercial production at the company’s newest cell therapy manufacturing facility in Devens, Massachusetts. The Devens site is a critical component of BMS’ expanding global cell therapy manufacturing footprint for long-term supply of the company’s cell therapy portfolio.

“The Devens facility integrates the latest state-of-the-art technology in the industry with top talent in the Boston area that will take us into the next phase of our cell therapy journey,” said Karin Shanahan, executive vice president, Global Product Development & Supply, Bristol Myers Squibb. “We are working diligently to increase our product capacity through new sites like Devens and by implementing innovative manufacturing solutions that help patients in need.”

Manufacturing autologous cell therapies is both operationally and technically complex because they are uniquely created using an individual patient’s own T cells as the starting material. Each batch of engineered T cells is manufactured individually and infused back to the original cancer patient. It is important to develop reliable quality supply with rapid turnaround time. The expansion of the company’s global manufacturing footprint is critical to supplying these products to patients with unmet needs around the world.

“Bristol Myers Squibb’s vision of putting more patients on a path to potential cure starts with delivering on the promise of our current product portfolio and future pipeline,” said Lynelle Hoch, senior vice president, Global Cell Therapy Franchise Lead, Bristol Myers Squibb. “Today’s approval underscores our commitment to deliver our transformational CAR T cell therapies to more patients.”

The new 244,000 square foot cell therapy manufacturing facility represents the second significant expansion of BMS’ 89-acre Devens site, which has been developing, producing, and testing clinical and commercial medicines for over a decade. The Devens facility creates over 500 new cell therapy jobs and reflects BMS’ continued leadership and growth in the Boston area’s dynamic life sciences community. BMS also operates two R&D facilities in Cambridge, Massachusetts and will bring these two sites together into a new building at Cambridge Crossing later in 2023.

Devens adds to the company’s robust global network of three state-of-the-art cell therapy manufacturing facilities in Bothell, Washington; Warren, New Jersey; and Summit, New Jersey, with another manufacturing site in development in Leiden, Netherlands. BMS recently announced the addition of a new manufacturing facility and its operations for in-house viral vector production in Libertyville, Illinois, further strengthening the company’s cell therapy capabilities.*

*The new U.S. facility is planned to transition to Bristol Myers Squibb over the course of 2023, subject to the fulfillment of applicable closing conditions.

About Bristol Myers Squibb

Bristol Myers Squibb is a global biopharmaceutical company whose mission is to discover, develop and deliver innovative medicines that help patients prevail over serious diseases. For more information about Bristol Myers Squibb, visit us at BMS.com or follow us on LinkedIn, Twitter, YouTube, Facebook and Instagram.

Cautionary Statement Regarding Forward-Looking Statements

This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 regarding, among other things, the research, development and commercialization of pharmaceutical products and the transaction. All statements that are not statements of historical facts are, or may be deemed to be, forward-looking statements. Such forward-looking statements are based on current expectations and projections about our future financial results, goals, plans and objectives and involve inherent risks, assumptions and uncertainties, including internal or external factors that could delay, divert or change any of them in the next several years, that are difficult to predict, may be beyond our control and could cause our future financial results, goals, plans and objectives to differ materially from those expressed in, or implied by, the statements. These risks, assumptions, uncertainties and other factors include, among others, any delay or inability of Bristol Myers Squibb to realize the expected benefits of the transaction. No forward-looking statement can be guaranteed. Forward-looking statements in this press release should be evaluated together with the many risks and uncertainties that affect Bristol Myers Squibb’s business and market, particularly those identified in the cautionary statement and risk factors discussion in Bristol Myers Squibb’s Annual Report on Form 10-K for the year ended December 31, 2022, as updated by our subsequent Quarterly Reports on Form 10-Q, Current Reports on Form 8-K and other filings with the Securities and Exchange Commission. The forward-looking statements included in this document are made only as of the date of this document and except as otherwise required by applicable law, Bristol Myers Squibb undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, changed circumstances or otherwise.

Contacts
Media:
media@bms.com

Investors:
investor.relations@bms.com

News Release: PMB and Sutter Health announce groundbreaking for 100,000 square-foot medical office building in Roseville, Calif.

This new four-story, 100,000 sq.-ft. medical office building broke ground and is expected to open in summer 2024

ROSEVILLE, Calif., June 7, 2023 /PRNewswire/ — PMB, a leading healthcare real estate developer, in partnership with Sutter Health, has broken ground on a 4-story, 100,000 square-foot medical office building in Roseville, CA.

The building is located at 7 Medical Plaza Drive on the Sutter Roseville Medical Center campus and will be home to the Graduate Medical Education Program which will provide training and education for future physicians to support Sutter Health’s system. The remainder of the building will be occupied by Sutter Valley Medical Foundation and will provide: Cardiovascular, Bariatric, Dermatology, MOHS, Rheumatology, and Endocrinology services.

 

“PMB is grateful and excited to join Sutter Health in developing the next generation of medical facilities on its Roseville campus,” said Mark Toothacre, Managing Partner and CEO. “We are honored to further our extensive partnership with Sutter Health.”

“At Sutter Health we’re always advancing and finding ways to better serve our communities,” Robert Mitsch, Vice President – Facility & Property Services at Sutter Health, said. “Our vision is to develop a medical facility that enables people to experience exceptional, convenient and accessible care. This project will give the Roseville community just that.”

In addition to PMB, the project team includes Sacramento based Dreyfuss & Blackford as architect, Sacramento based Westfork Construction as general contractor, Ventas REIT as the equity partner and a combination of Siemens and First Horizon Bank as the construction lender.

About PMB
PMB is a purpose-driven healthcare real estate developer with a mission to improve healthcare delivery, effect change, and positively impact communities. Our company is 100 percent focused on healthcare real estate across the continuum of care including behavioral health, life sciences, ambulatory care centers, medical office buildings, inpatient hospitals, post-acute hospitals, senior living facilities, and parking structures. PMB has developed over 130 facilities to date representing approximately 6 million square feet. The firm owns and manages 70 medical facilities comprising over 5.2 million square feet. For more information, please visit our website at www.pmbllc.com  or our blog at https://pmbllc.com/pmb-and-sutter-health-break-ground-for-100000-square-foot-medical-office-building-in-roseville-ca

About Sutter Health
Serving patients and their families in more than 100 Northern California cities and towns, Sutter Health doctors, not-for-profit hospitals and other health care service providers share resources and expertise to advance health care quality and access. The Sutter Medical Network includes many of California’s top-performing, highest quality physician organizations as measured annually by the Integrated Healthcare Association. Sutter-affiliated hospitals are regional leaders in cardiac care, women’s and children’s services, cancer care, orthopedics and advanced patient safety technology. For more information about the not-for-profit Sutter Health network, please visit www.SutterHealth.org .

Feature Story: HR soars on list of largest owners of medical real estate

But Kaiser Permanente is still No. 1 by far, according to Revista’s latest top 50 report

By John B. Mugford

It should come as no surprise that the entity that grew its medical real estate portfolio the most in 2022 was Nashville, Tenn.-based Healthcare Realty Trust Inc. (NYSE: HR), a publicly traded real estate investment trust (REIT) focused on medical office buildings (MOBs).

After expanding its portfolio relatively slowly from 2019 to 2021, when it grew its assets from $3.9 billion to $4.7 billion, Healthcare Realty took a big jump last year when it acquired what was then nation’s largest MOB owner, Scottsdale, Ariz.-based Healthcare Trust of America (HTA).

As part of the transaction that closed early in the third quarter (Q3) of 2022, Healthcare Realty acquired HTA’s vast portfolio of more than 24 million square feet of mostly MOBs for a price topping $10 billion.

As a result, the value of Healthcare Realty’s overall portfolio is now $12.8 billion, representing year-over-year growth of Continue reading “Feature Story: HR soars on list of largest owners of medical real estate”

News Release: CBRE Analysis: Persistent Expansion in the Number of US Life Science Researchers Highlights Resiliency of US Life Sciences Job Market

Press Release

FOR IMMEDIATE RELEASE

CBRE’s second annual analysis of US life sciences research talent finds the number of researchers has not declined in more than 20 years, through three recessions

Boston/Cambridge remains the top market for life sciences research talent, with Philadelphia and Miami/Fort Lauderdale among the metros that improved the most over the past year

Dallas – June 6, 2023 – The growth of U.S. life sciences researchers remains resilient in the face of economic concerns, according to a recent analysis conducted by CBRE. The number of life sciences researchers in the U.S. increased by 87% over the past 20 years, compared with 14% for all U.S. occupations. Research jobs have not fallen across those 20 years, through three recessions and amid a tight labor market of recent years.

Life sciences research professions – from biochemists to epidemiologists and data scientists – increased in headcount by 3.1% in 2022 to a record 545,000 specialists. In comparison, the overall U.S. job growth rate last year was 2.2%. The continued growth in life sciences research jobs is driven by established markets such as Boston/Cambridge and the San Francisco Bay Area and emerging hubs, including Atlanta, Dallas/Fort Worth and Miami/Fort Lauderdale.

CBRE evaluated each of the largest 74 U.S. life sciences labor markets against multiple criteria, including the number and concentration of life sciences researchers, number of new graduates with life sciences degrees and specifically with doctorate degrees in life sciences, concentration of all doctorate degree holders, and concentration of jobs in the broader professional, scientific, and technical services professions. The analysis produced CBRE’s second annual ranking of the leading markets for U.S. life sciences talent.

“Demand for life sciences research workers is above pre-pandemic levels,” said Matt Gardner, CBRE Advisory Services Life Sciences Leader. “We’re also seeing a closely balanced ratio of hiring to job cuts in the biopharma industry compared with the technology sector and the broader economy, which positions the life sciences to remain stable despite an economic downturn.”

“It’s worth mentioning that large lab markets, such as Boston and the San Francisco Bay Area remain stable,” he said. “But in the second year of our analysis, we’re seeing cities like Atlanta, Philadelphia and Denver/Boulder gain ground as hubs for life science research talent.”

CBRE’s analysis allows for examination of the industry from various angles, including shifts in the type of life science research occupations. For example, the number of digital and analytics roles has increased by 101% in the last five years due to innovation in artificial intelligence and machine learning. The industry is also experiencing a shift from chemistry to biology, resulting in a 1.2% decrease in the number of chemists over the past five years.

Phoenix produced the fastest growth rate of new life sciences graduates (2,000 graduates in 2021:91% growth from 2016-2021). Additionally, markets that produced the highest number of graduates in specialized fields include Washington D.C./Baltimore (582 biotechnology graduates in 2021) and the San Francisco Bay Area (877 cell/cellular biology and anatomical sciences graduates in 2021).

Another interesting finding: Several markets saw above-average growth in the total number of life sciences researchers between 2017 and 2022. These include Atlanta (36%), Denver/Boulder (35%), Dallas/Fort Worth (33%) and Phoenix (33%). The national average in that span was 16%. It’s important to note that each market is also home to leading research and higher education institutions.

“Any expanding industry needs a strong pool of new graduates, and that’s certainly the case for life sciences,” said Taylor Stucky, Associate Research Director for CBRE’s Life Sciences and Healthcare Research. “There is no shortage of quality and available talent in dozens of U.S. markets for life sciences companies to choose from depending on their real estate and labor needs.”

To read the full report, click here.

About CBRE Group, Inc.

CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2022 revenue). The company has approximately 115,000 employees (excluding Turner & Townsend employees) serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.

Contact:
Jenna Perlman
jenna.perlman@cbre.com

News Release: CareTrust REIT Issues New Investor Presentation for NAREIT’s REITweek 2023 Conference

June 06, 2023 09:06 AM Eastern Daylight Time

SAN CLEMENTE, Calif.–(BUSINESS WIRE)–CareTrust REIT, Inc. (NYSE:CTRE) announced today that it has released a new investor presentation and business update in conjunction with NAREIT’s REITweek 2023 Investor Conference.

The new presentation can be accessed under the “Events and Presentations” tab on the Investors page of CareTrust’s website, at https://investor.caretrustreit.com/events-and-presentations/default.aspx.

About CareTrust

CareTrust REIT, Inc. is a self-administered, publicly-traded real estate investment trust engaged in the ownership, acquisition, development and leasing of skilled nursing, seniors housing and other healthcare-related properties. With a nationwide portfolio of long-term net-leased properties, and a growing portfolio of quality operators leasing them, CareTrust REIT is pursuing both external and organic growth opportunities across the United States. More information about CareTrust REIT is available at www.caretrustreit.com.

Contacts
CareTrust REIT, Inc.
(949) 542-3130
ir@caretrustreit.com

News Release: Medical Properties Trust Posts New Investor Presentation

June 06, 2023 08:05 AM Eastern Daylight Time

BIRMINGHAM, Ala.–(BUSINESS WIRE)–Medical Properties Trust, Inc. (the “Company” or “MPT”) (NYSE: MPW) today announced that a new investor presentation has been posted to its website in connection with the Company’s participation in Nareit’s REITweek Investor Conference. The presentation provides a detailed overview of MPT’s enduring value proposition, demonstrates a clear valuation disconnect relative to peers, and dispels continued false and misleading claims about the Company. The presentation can be found on MPT’s investor relations website under Webcasts and Presentations.

About Medical Properties Trust, Inc.

Medical Properties Trust, Inc. is a self-advised real estate investment trust formed in 2003 to acquire and develop net-leased hospital facilities. From its inception in Birmingham, Alabama, the Company has grown to become one of the world’s largest owners of hospital real estate with 436 facilities and approximately 44,000 licensed beds in ten countries and across four continents. MPT’s financing model facilitates acquisitions and recapitalizations and allows operators of hospitals to unlock the value of their real estate assets to fund facility improvements, technology upgrades and other investments in operations. For more information, please visit the Company’s website at www.medicalpropertiestrust.com.

This press release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements can generally be identified by the use of forward-looking words such as “may”, “will”, “would”, “could”, “expect”, “intend”, “plan”, “estimate”, “target”, “anticipate”, “believe”, “objectives”, “outlook”, “guidance” or other similar words, and include statements regarding our strategies, objectives, future expansion and development activities, and expected financial performance. Forward-looking statements involve known and unknown risks and uncertainties that may cause our actual results or future events to differ materially from those expressed in or underlying such forward-looking statements, including, but not limited to: (i) the economic, political and social impact of, and uncertainty relating to, potential impact from health crises (like COVID-19); (ii) the ability of our tenants, operators and borrowers to satisfy their obligations under their respective contractual arrangements with us, especially as a result of the adverse economic impact of the COVID-19 pandemic, and government regulation of hospitals and healthcare providers in connection with same (as further detailed in our Current Report on Form 8-K filed with the SEC on April 8, 2020); (iii) our expectations regarding annual guidance for net income and NFFO per share; (iv) our success in implementing our business strategy and our ability to identify, underwrite, finance, consummate and integrate acquisitions and investments; (v) the nature and extent of our current and future competition; (vi) macroeconomic conditions, such as a disruption of or lack of access to the capital markets or movements in currency exchange rates; (vii) our ability to obtain debt financing on attractive terms or at all, which may adversely impact our ability to pursue acquisition and development opportunities and pay down, refinance, restructure or extend our indebtedness as it becomes due; (viii) increases in our borrowing costs as a result of changes in interest rates and other factors; (ix) international, national and local economic, real estate and other market conditions, which may negatively impact, among other things, the financial condition of our tenants, lenders and institutions that hold our cash balances, and may expose us to increased risks of default by these parties; (x) factors affecting the real estate industry generally or the healthcare real estate industry in particular; (xi) our ability to maintain our status as a REIT for federal and state income tax purposes; (xii) federal and state healthcare and other regulatory requirements, as well as those in the foreign jurisdictions where we own properties; (xiii) the value of our real estate assets, which may limit our ability to dispose of assets at attractive prices or obtain or maintain equity or debt financing secured by our properties or on an unsecured basis; (xiv) the ability of our tenants and operators to operate profitably and generate positive cash flow, comply with applicable laws, rules and regulations in the operation of our properties, to deliver high-quality services, to attract and retain qualified personnel and to attract patients; (xv) potential environmental contingencies and other liabilities; (xvi) the risk that the expected sale of three Connecticut hospitals currently leased to Prospect does not occur; (xvii) the risk that MPT’s expected sale of its remaining Australian portfolio does not occur; (xviii) the risk that other property sales, loan repayments, and other capital recycling transactions do not occur; and (xix) the risks and uncertainties of litigation.

The risks described above are not exhaustive and additional factors could adversely affect our business and financial performance, including the risk factors discussed under the section captioned “Risk Factors” in our Annual Report on Form 10-K for the year ended December 31, 2022 and as updated in our quarterly reports on Form 10-Q. Forward-looking statements are inherently uncertain and actual performance or outcomes may vary materially from any forward-looking statements and the assumptions on which those statements are based. Readers are cautioned to not place undue reliance on forward-looking statements as predictions of future events. We disclaim any responsibility to update such forward-looking statements, which speak only as of the date on which they were made.

Contacts
Drew Babin, CFA, CMA
Senior Managing Director – Corporate Communications
Medical Properties Trust, Inc.
(646) 884-9809
dbabin@medicalpropertiestrust.com

News Release: LTC Closes $61.5 Million in New Investments; Transitions Eight-Property Portfolio

June 05, 2023 05:00 PM Eastern Daylight Time

WESTLAKE VILLAGE, Calif.–(BUSINESS WIRE)–LTC Properties, Inc. (NYSE: LTC) (“LTC” or the “Company”) a real estate investment trust that primarily invests in seniors housing and health care properties, today announced it has invested a total of $61.5 million in two transactions, and completed the previously disclosed transition of a portfolio of eight assisted living communities to an existing LTC operator.

The investments include LTC’s $45.0 million investment in a $54.1 million joint venture acquisition of a seniors housing campus, and a $16.5 million investment in a skilled nursing center, as follows:

Joint Venture: $45.0 million joint venture investment for the purchase of an independent living, assisted living and memory care campus in Ohio. The campus was built between 2019 and 2022, includes a total of 242 units, and is now operated by current LTC partner, Encore Senior Living (“Encore”). Additionally, the transaction includes a $2.1 million lease incentive. The lease term is 10 years at an initial yield of 8.25%, and includes a purchase option for the seller during the third and fourth lease years, with an exit IRR of 9.75%. Rent is expected to be approximately $3.9 million per year.

Senior Loan: $16.5 million senior loan origination for the purchase of a skilled nursing center in Illinois. The center, which was built in 2010 and extensively renovated in 2021, is licensed for 150 beds and is now operated by current LTC partner, Ignite Medical Resorts. The loan term is five years at an interest rate of 8.75%.

Transitioned Portfolio: As previously detailed in the Company’s 2023 first quarter earnings conference call, LTC transitioned a portfolio of eight assisted living communities with 500 units in Illinois, Ohio and Michigan to Encore. LTC had been providing assistance to the former operator of this portfolio and as part of the transition, LTC received repayment of approximately $1.3 million of deferred rent previously not recorded. Cash rent under the two-year lease is based on mutually agreed upon fair market rent beginning in month four of the lease.

“LTC has been very active this year, investing more than $240 million year-to-date, our largest investment year since 2015, and transitioning challenged properties to strengthen our portfolio,” said Wendy Simpson, LTC’s Chairman and CEO. “Making incremental investments with existing partners allows us to work with growth-minded operators who we know and respect, while investing in newer assets allows us to further reduce the average age of our portfolio. These efforts should serve us well over the long-term as we work to reinforce LTC’s position as a REIT partner of choice for the seniors housing and care market.”

About LTC

LTC is a real estate investment trust (REIT) investing in seniors housing and health care properties primarily through sale-leasebacks, mortgage financing, joint-ventures and structured finance solutions including preferred equity and mezzanine lending. LTC’s investment portfolio includes 212 properties in 29 states with 31 operating partners. Based on its gross real estate investments, LTC’s investment portfolio is comprised of approximately 50% seniors housing and 50% skilled nursing properties. Learn more at www.LTCreit.com.

Forward-Looking Statements

This press release includes statements that are not purely historical and are “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements regarding the Company’s expectations, beliefs, intentions or strategies regarding the future. All statements other than historical facts contained in this press release are forward-looking statements. These forward-looking statements involve a number of risks and uncertainties. Please see LTC’s most recent Annual Report on Form 10-K, its subsequent Quarterly Reports on Form 10-Q, and its other publicly available filings with the Securities and Exchange Commission for a discussion of these and other risks and uncertainties. All forward-looking statements included in this press release are based on information available to the Company on the date hereof, and LTC assumes no obligation to update such forward-looking statements. Although the Company’s management believes that the assumptions and expectations reflected in such forward-looking statements are reasonable, no assurance can be given that such expectations will prove to have been correct. The actual results achieved by the Company may differ materially from any forward-looking statements due to the risks and uncertainties of such statements.

Contacts
For more information contact:
Mandi Hogan
(805) 981-8655

News Release: Mayo Clinic Board of Trustees approves enabling projects for Bold. Forward. Unbound. in Rochester

June 5, 2023

ROCHESTER, Minn. — Bold. Forward. Unbound. in Rochester is a multiyear strategic initiative to help achieve the Mayo Clinic’s strategy to Cure, Connect and Transform health care. The project reinforces Mayo Clinic’s commitment to the City of Rochester and State of Minnesota.

The initiative focuses on reimagining Mayo Clinic’s downtown Rochester campus, which includes adding state-of-the-art, flexible physical spaces to allow full integration of digital technology to better support the evolving needs of patients, staff and communities.

“Mayo Clinic has been a leader in healthcare transformation for 150 years, and patients across the world rely on Mayo Clinic to cure their serious and complex diseases,” says Craig Daniels, M.D., physician leader of Bold. Forward. Unbound. in Rochester. “We must continue transforming healthcare to fulfill our obligation to our patients, support our staff and ensure we continue to make the Mayo Clinic we inherited better for the next generation.”

To allow this transformation in Rochester to move forward, the Mayo Clinic Board of Trustees recently approved a series of enabling projects that will allow the Bold. Forward. Unbound. in Rochester team to proceed with further planning and progress on the strategic initiative.

“I’ve heard them called ‘liftoff projects,’ which I like,” says Dr. Daniels, “because that’s what they’ll do — allow us to remain on the path to achieve liftoff late this year when we request approval for the full Bold. Forward. Unbound. in Rochester vision.”

Fostering connection, transformation in downtown Rochester

“Mayo Clinic has a long history of investing in Rochester,” says Dr. Daniels. “Those investments, in both technology and buildings, have always served our patients’ needs by empowering our teams with what they need to care for and cure those who need us.”

Bold. Forward. Unbound. in Rochester is an investment in Mayo Clinic’s staff and patients, but also downtown Rochester, including redesigning the downtown footprint and partnering with local officials and businesses to help bolster economic growth and vitality for generations to come. The project will result in exciting changes to downtown, and Mayo Clinic is committed to sequencing the work to minimize disruption over the coming years.

The Bold. Forward. Unbound. in Rochester design team is working closely with the City of Rochester to find creative solutions that are proportionate to Mayo Clinic’s downtown presence, including new parking infrastructure like the Discovery Square ramp, a partnership with the planned Link Rapid Transit line in Rochester and more.

Reimagining the former Lourdes High School site

In 2013, Mayo Clinic purchased the former Lourdes High School site with the intention of redeveloping the two-block site to accommodate future growth.

As part of Bold. Forward. Unbound. in Rochester, Mayo Clinic plans to reimagine the former Lourdes High School site. The current structure is largely unusable due to asbestos and flooding damage. The site could be redeveloped to serve as a new logistics building that would help optimize clinical space for patient care while ensuring supplies are accessible and efficiently restocked.

Mayo Clinic will begin the process with the City of Rochester Heritage Preservation Commission, understanding approvals are necessary to redevelop this site.

What’s next?

Bold. Forward. Unbound. in Rochester is taking an iterative approach to redesigning Mayo Clinic’s downtown campus, and project teams are committed to sequencing the work to minimize disruption over the coming years.

The project and plan will change as teams adapt and respond to new learnings. Many decisions are yet to be made, but proceeding with these enabling projects will allow Mayo Clinic to work with the City of Rochester, the community and its staff as the organization continues moving forward with planning.

Here is a link to some frequently asked questions.

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About Mayo Clinic

Mayo Clinic is a nonprofit organization committed to innovation in clinical practice, education and research, and providing compassion, expertise and answers to everyone who needs healing. Visit the Mayo Clinic News Network for additional Mayo Clinic news.

Media contact:

Kristy Jacobson, Mayo Clinic Communications, newsbureau@mayo.edu

News Release: Fairfield Advisors announces sale of Renewal Medical Office Building in Denver, CO.

– $13,150,000 Transaction –

(Denver, CO.) – Fairfield Advisors, a national Real Estate Advisory firm focused on the HealthCare marketplace, facilitated the sale of the Renewal Medical Office Building in the Denver metro-area. The building totals 36,500 square feet and is located at 9777 S. Yosemite Street in Lone Tree, CO. The multi-tenant building is anchored by a mix of well-established Medical tenants including US Renal and Insight Vision. In addition, the building maintains a high-volume Surgery Center.

“This Medical Building is located in one of the best sub-markets in Denver.” said Greg Trainor, Managing Partner with Fairfield. “We worked closely with the sellers to define pricing expectations and timing given the current market conditions. The results exceeded the expectations of the sellers.”

Fairfield Advisors has closed on $922,000,000 of HealthCare Real Estate transactions.

Looking to sell or refinance your HealthCare Real Estate ?

• www.fairfieldadv.com – gregt@fairfieldadv.com – (720) 984-9113

ABOUT FAIRFIELD ADVISORS

• Fairfield Advisors is a national Advisory firm that provides a wide range of Capital Advisory solutions for the HealthCare Real Estate marketplace

• Fairfield Advisors works directly with owners of HealthCare Real Estate for the sale of assets as well as sourcing capital for Debt, Equity, and Development.

• Fairield Advisors works directly with Capital Sources to manage highly targeted campaigns to increase Deal Flow based on specific criteria such as geography, tenancy, and deal size

News Release: H2C Secures Operators for Two Behavioral Health Hospitals

NEW YORK, June 2, 2023 – H2C Securities Inc.  (“H2C”), a healthcare-focused strategic advisory firm, served as the exclusive advisor to FJM Health and Senior Services (“FJM”), to secure alternative operators for two recently-developed inpatient psychiatric hospitals located in Prescott, AZ and Kennewick, WA.

Executive Director Matthew Tarpley and Vice President Michael Fioravanti led the transactions for H2C.

The Prescott, AZ facility, completed in 2019, features 14 patient rooms with 24 beds, an onsite pharmacy, group and seclusion rooms and expansion potential to a 40-bed facility given the zoning envelope. Formerly operated as “Medical Behavioral Hospital of Northern Arizona”, the new operator will continue inpatient behavioral services by providing psychiatric treatment and structured supportive care to clients coping with mental and behavioral health challenges.  Centered between Yavapai Regional Medical Center West and the Northern Arizona VA Hospital, the facility will be the 12th location for the tenant.

The Kennewick, WA facility, completed in 2020, will be expanded over the next 12-24 months to accommodate a 72-bed inpatient behavioral hospital.  Given the restrictive CON in the State of Washington, the Tri-Cities area has significant demand for psychiatric health and a significant “unmet bed demand.” The facility possesses a unique characteristic in which it does not feature a maximum length of stay for patients, a rare provision of use which the tenant will be able to capitalize on. The strategic location is centered between three acute-care hospitals located within a 10-mile drive and will act as a natural-referral sources for the tenant.

“There is clear demand for inpatient psychiatric care throughout the country and we were able to align FJM with two proven operators in the space to achieve an optimal outcome,” said Matthew Tarpley. “The facilities are vital to the surrounding communities, and we would expect the reach of the operators to grow as the stigma surrounding mental illness continues to shrink,” said Michael Fioravanti.

Notably, the transactions represent the tenth behavioral health deal executed between H2C’s real estate and M&A team – over the past 24 months.

About FJ Management Inc.

FJ Management Inc. is a Utah-based private holding company that manages a diverse portfolio of petroleum, healthcare, and hospitality related assets under the guiding principles of Integrity, Mutual Respect, and Excellence. Founded in 1968 by O. Jay Call, the company continues to grow and prosper and is committed to long term investments that add value to current businesses while mitigating risks. 

About H2C Securities Inc. (“H2C”)

H2C is a strategic advisory and investment banking firm committed to providing superior advice to healthcare organizations, higher education institutions, and related organizations throughout the United States. H2C’s professionals have a long track record of success in mergers and acquisitions, capital markets, and real estate transactions, acting as lead advisors on hundreds of transactions representing billions of dollars in value.

For more than 20 years, the real estate investment banking professionals at H2C have successfully served as advisors on real estate transactions in excess of $17.0 billion nationwide. For more information on our real estate advisory group, please contact one of the H2C professionals or visit our website at h2c.com.

Securities and services offered through H2C Securities Inc., member FINRA/SIPC, a registered broker-dealer and an indirect subsidiary of Fifth Third Bank, National Association. All rights reserved. Securities and services offered through H2C Securities Inc.: Are Not FDIC Insured; Offer No Bank Guarantee; May Lose Value; Are Not Insured by any Federal Government Agency; Are Not a Deposit. 

For more information, visit h2c.com