June 24, 2015
8 Salt Creek Breaks Ground
NORTHBROOK, IL – MedProperties Group is pleased to announce that construction has commenced on 8 SALT CREEK, a new three story, 32,000 square foot medical office building, anchored by Edward-Elmhurst Healthcare. The new building will be the latest addition to MedProperties’ five building, 200,000 square feet, 16 acre Salt Creek Medical Campus in Hinsdale, IL. Edward-Elmhurst will join other leading health systems as well as local and regional healthcare providers in this high profile campus setting conveniently located at Ogden Avenue/Interstate 294. Edward will provide immediate care, medical offices, behavioral health, and advanced medical imaging services in the new building. Matthew Campbell, Chief Executive Officer of MedProperties, highlights “Adding this great health system to the campus compliments the rich mixture of local and national healthcare providers in this beautiful suburban campus setting in what is arguably the premier outpatient medical campus in the Midwest.”
May 26, 2015
Hinsdale Surgery Center Leases Floor at Salt Creek Medical Campus
NORTHBROOK, IL – MedProperties Group has signed a long term lease with Hinsdale Surgical Center, the premier surgery center operator in the Hinsdale area. Hinsdale Surgical Center will occupy a full floor (approximately 17,000 square feet) of the largest building on campus, 12 Salt Creek. The surgery center will have a separate address of 10 Salt Creek and their own entrance on the south side of the building.
May 29, 2014
MedProperties Group acquires Salt Creek Surgery Center in Westmont, Illinois
NORTHBROOK, IL – MedProperties Group has closed on its acquisition of the Salt Creek Surgery Center at 530 N. Cass Avenue in Westmont, Illinois. The 11,509 square foot ambulatory surgery center is majority owned by Edward Health Ventures, a subsidiary of Edward-Elmhurst Healthcare, and physicians affiliated with DuPage Medical Group and Hinsdale Orthopaedics. This established facility offers convenient access for patients throughout the western Chicago suburbs and specializes in orthopedic surgery, pain management and podiatry. Matthew Campbell, founding partner and Chief Executive Officer of MedProperties Group highlights, “This transaction furthers our investment strategy of partnering with premier health systems and top healthcare providers as we continue to identify attractive acquisition opportunities to grow our medical real estate portfolio.”
January 2, 2014
MedProperties Group announces expansion of Salt Creek Medical Campus in Hinsdale, Illinois
NORTHBROOK, IL – Through the recent acquisition of two contiguous properties, 11 Salt Creek and 901 North Elm, MedProperties Group has expanded the Salt Creek Medical Campus in Hinsdale to comprise over 200,000 square feet of outpatient space, including the new 54,000 square foot medical office building that is scheduled to break ground in late 2014. 11 Salt Creek is a 40,000 square foot building that is 95% leased to three medical providers affiliated with the Adventist Health System, one of the largest healthcare organizations in the US with 44 campuses and over 7,700 licensed beds nationwide. 901 North Elm is a 27,000 square foot building with prime visibility on Ogden Avenue that is being renovated for its anchor tenant that will occupy in the second half of 2014. According to William J. Dvorak, Director of Development Services for MedProperties Group, “The ongoing and highly visible modernization program at Salt Creek Medical Campus, to be completed in 2014, along with the new ground up medical building to be delivered in 2015, further establishes the Campus as the prominent outpatient medical destination in the western corridor. The Campus provides what patients and healthcare providers demand – high visibility to establish their brand, excellent demographics, a safe and easily accessible location near major highways, ample parking, modern medical facilities with a synergistic mix of primary and specialty care providers, and proximity to complimentary retail.”
January 2, 2014
MedProperties Group announces acquisition of Mercy Medical Commons in Gilbert, Arizona
NORTHBROOK, IL – MedProperties Group has acquired the Mercy Medical Commons in Gilbert, Arizona, in the rapidly growing East Valley region of Phoenix. The building was the winner of the 2010 NAIOP Medical Office Development of the year and is 89% leased to a premier group of medical tenants including Scottsdale Medical Imaging and Arizona Center for Cancer Care. The property is located across from Dignity Health’s 212-bed Mercy Gilbert Medical Center. Dignity Health is the fifth largest hospital provider in the nation. Matthew J. Campbell, Founding Partner and Chief Executive Officer of MedProperties Group states, “Our firm’s portfolio of high quality medical office buildings, ranging from opportunistic, value-add and core asset profiles, continues to expand with over 250,000 square feet acquired in the past year and a half. A strong pipeline of attractive acquisition and development opportunities is expected to continue MedProperties Group’s growth into 2014 and beyond.”
July 19, 2013
MedProperties Group announces Lakeview Medical Campus receives silver LEED certification
MedProperties Group, a leading medical office developer in the Midwest, recently opened its three story, 75,000 square foot multi-tenant medical office building, the Lakeview Medical Campus, at 1333 West Belmont Avenue in Chicago’s Lakeview neighborhood. The project is over 70% leased by Northwestern Memorial Hospital under a long-term lease.
The silver LEED (Leadership in Energy and Environmental Design) certification for Core & Shell construction is a rare achievement, as less than 1% of LEED-certified projects in the U.S. are healthcare facilities. Highlights of reducing the environmental impact of construction included diverting 95% of the construction waste from landfills, a green roof reducing storm water runoff, low flow and high-efficiency plumbing fixtures to reduce potable water consumption, and the selection of high efficiency mechanical, electrical and plumbing systems which improved energy performance, conservation and extended equipment life.
The Lakeview Medical Campus project demonstrated ownership’s commitment to sustainable principles and practices.
January 23, 2013
MedProperties Group announces Salt Creek Medical Campus acquisition in Hinsdale, Illinois
MedProperties Group has partnered with H.I.G. Realty Partners to complete its acquisition of two buildings, 12 Salt Creek Lane and 907 North Elm Street, and an adjacent development parcel in the western Chicago suburb of Hinsdale, Illinois. The existing properties will be upgraded for exclusive medical tenancy, while opportunities are available for tenants to anchor a future third medical office building. The site offers access from the I-294 Tri-State Tollway, prominent visibility along Ogden Avenue, and a signalized entrance. “The Salt Creek Medical Campus allows us to provide health systems and physician groups with high quality medical space, patient-friendly access and a premier location,” said Matthew Campbell, Chief Executive Officer and Founding Partner of MedProperties Group.
September 5, 2012
Stephen A. Smith joining MedProperties Group Advisory Board and Investment Committee
In his new role as a partner in the capital markets area, Mr. Smith will lead MedProperties’ efforts in seeking new equity investors for its commingled funds as well as for separate accounts, joint venture partnerships and co-investments. Additionally, Mr. Smith will be a member of the firm’s Advisory Board and Investment Committee where he will provide guidance on investment and client activities. Mr. Smith has deep experience in establishing relationships and structuring partnerships with the full spectrum of investment entities seeking investments in a wide array of real estate opportunities.
Stephen A. Smith is currently President of GlenArbor Partners Inc., a Chicago based real estate investment and advisory firm. Prior to his current role he was a founding partner and Chief Operating Officer of Bryanston Realty Partners, LLC, a real estate private equity firm focusing on the acquisition of retailers across the country. He is a former Managing Director and member of the management committee of LaSalle Investment Management, the global investment management subsidiary of Jones Lang LaSalle Inc. (NYSE: JLL). He currently serves on the Board of Directors of Children’s Memorial Hospital and Environmental Advanced Reclamation Technology Hq, LLC and is an advisory board member of the Phalanx National Security Services and Technology Fund, formed by the Prescient Edge Corporation of Falls Church, VA.
August 28, 2012
MedProperties Group announces the opening of the Lakeview Medical Campus
MedProperties Group, a leading medical office developer in the Midwest, recently opened its $21 million, three story, 75,000 square foot multi-tenant medical office building, the Lakeview Medical Campus, at 1333 West Belmont Avenue in Chicago’s Lakeview neighborhood. The project is over 70% leased by Northwestern Memorial Hospital under a long-term lease.
The facility which includes covered parking for patients, staff, and physicians, consolidates two internal medicine practices, and also includes an imaging suite, a pharmacy, and Northwestern’s first immediate care location with walk-in access for minor accidents and illnesses.
The Lakeview Medical Campus project demonstrates MedProperties’ continued focus on creating best in class patient experiences in partnership with its healthcare clients.
June 20, 2012
MedProperties Group announces the acquisition of a 63,000 square foot medical office building in Arlington Heights, Illinois
MedProperties Group has completed an acquisition of a 63,000 square foot medical office building in Arlington Heights, Illinois at 1100 West Central Avenue. The property is located immediately adjacent to Northwest Community Hospital, the largest hospital in Chicago’s northwest suburbs. In addition to a strong roster of medical practices, an ambulatory surgery center is located within the building.
In conjunction with MedProperties Group’s comprehensive renovation program to upgrade and modernize the building, the property will be named the Arlington Heights Medical Center. “MedProperties Group’s medical office development and management platform provides us with the capabilities required to create substantial value for our investors and the tenants,” said Paul A. Kopecki, Chief Operating Officer of MedProperties Group.
This is the most recent investment for MedProperties Development and Acquisition Fund I, LP, a fund that was launched in late 2010 to leverage MedProperties Group’s comprehensive healthcare property, development, asset and investment management resources and experience. Debt financing was provided by GE Capital, Healthcare Financial Services. Jesse W. Ostrow, Director, Investment Management of MedProperties Group adds, “This latest investment builds upon the firm’s strategy to continue to grow its portfolio of medical real estate assets through both new developments and acquisitions.”
December 9, 2011
MedProperties Group closes Lakeview Medical Campus construction loan with The PrivateBank
MedProperties Group has continued its strong relationship with The PrivateBank to close a $14.9 million construction loan for its Lakeview Medical Campus development. Leopardo Companies, Inc., is serving as the project’s general contractor and the project is on target to be delivered to Northwestern Memorial Health Care, the anchor tenant, in Spring 2012.
November 21, 2011
MedProperties Group closes on Lakeview Medical Campus site for new, Class A development for Northwestern Memorial HealthCare
MedProperties Group is pleased to announce the acquisition of the site for the to be built Lakeview Medical Campus in Chicago’s Lakeview neighborhood. The Lakeview Medical Campus will be a three story, 73,000 square foot, Class A medical office building that will include medical office and retail space and an indoor parking garage. The property is 70% pre-leased to Northwestern Memorial Hospital and delivery is expected in Spring 2012.
August 22, 2011
Due to continued expansion, MedProperties Group moves corporate office to Northbrook
Due to the continued growth of its medical real estate development and investment activities, MedProperties Group is pleased to announce it has moved its corporate office to 40 Skokie Boulevard, Suite 410 in Northbrook, Illinois. The new space provides significant capacity for additional expansion.
August 1, 2011
Jesse W. Ostrow joins MedProperties Group as Director, Investment Management
MedProperties Group has hired Jesse W. Ostrow to join the firm as Director, Investment Management. He will be responsible for sourcing, evaluating and managing acquisition opportunities for MedProperties Group. Mr. Ostrow’s background is in real estate private equity and investment banking with previous experience at Equibase Capital Group, Security Capital Group and A.G. Edwards & Sons. Mr. Ostrow earned his MBA at the University of Chicago Graduate School of Business and a BBA with High Distinction from the University of Michigan Business School.
May 1, 2011
MedProperties Group announces the sale of its medical office property in Oak Lawn, Illinois
MedProperties Group has sold its Oak Lawn Medical Center, located at 10837 South Cicero, a short distance from Advocate Health Care’s flagship Christ Hospital. MedProperties Group completed the development of this property in 2007. Over twenty offers were received, with a majority coming from buyers outside of Illinois, demonstrating that the market for a newer Class A medical building is national in scope.
June 10, 2010
MedProperties Group announces new lease signing and kickoff for Batavia Medical Campus – West Building in Batavia, Illinois
MedProperties Group has signed a long term lease with Fresenius Medical Care to anchor the second phase of the Batavia Medical Campus. Fresenius is the world’s largest provider of renal dialysis services, expecting 2010 revenues to exceed $12 billion. MedProperties Group will develop a single story, 17,500-square-foot multi-tenant medical office building on the west portion of the five acre Batavia Medical Campus, adjacent to Advocate Health Care’s Dreyer Medical Clinic. Fresenius will occupy approximately 45% of the building. The remaining 9,700 square feet can be divided in up to four separate suites. Arete Knight Architects/Engineers has designed the base building, and Leopardo Companies, Inc. has been selected to build the core and shell. STC Capital of St. Charles will provide the construction financing. The building is expected to be completed in Spring 2011.
June 8, 2010
MedProperties Group forms the MedProperties Development and Acquisition Fund I, LP
MedProperties Development & Acquisition Fund I, LP has been launched to leverage MedProperties Group’s comprehensive healthcare property, development, asset and investment management resources and experience. The fund will target acquisition, development and redevelopment investments in a variety of healthcare types including medical office, specialty medical facilities and life science properties. Investments will be focused on expanding on an existing portfolio of high quality medical properties in stable Midwest markets with attractive demographic characteristics.