CHICAGO, January 17, 2024 – Two medical office buildings (MOBs) developed by Remedy Medical Properties and Kayne Anderson Real Estate have been named as finalists in the 2023 HREI Insights Awards, an annual awards program that recognizes excellence in healthcare real estate development and executive leadership nationwide.

Peter Westmeyer, founder of Remedy, announced today that Silver Cross Orland Park Medical Pavilion, a two-story, 41,000-square-foot multispecialty outpatient center in Orland Park, Illinois, has been selected as a finalist in the “Best New Medical Office Buildings and Other Outpatient Facilities, 25,000 to 49,999 square feet” category. In addition, 716 Health, a 163,000-square-foot orthopedic, sports medicine and surgical complex in Amherst, New York, developed by Remedy and Kayne Anderson Real Estate in partnership with Ciminelli Real Estate, has been selected as a finalist in the “Best New Medical Office Buildings and Other Outpatient Facilities, 100,000 square feet or more” category.

“Our team is truly honored to receive recognition from HREI for these two outstanding healthcare real estate developments,” Westmeyer said. “These projects are emblematic of the level of dedication and creativity Remedy brings to all of its developments. It’s really gratifying to have our hard work acknowledged by such a prestigious awards program.”

Building a Showcase MOB with Quality of Life in Mind

Silver Cross Hospital and Premier Suburban Medical Group (PSMG) formed a strategic joint venture to expand their networks in southwest Chicagoland. Following a brief relationship with a different developer, Silver Cross partnered with Remedy and Kayne Anderson Real Estate, which immediately got to work to put the project back on schedule and reduce costs. Remedy’s in-house land manager and legal team, along with Kayne Anderson Real Estate’s legal and design and construction teams, played a crucial role in making up for lost time, taking care of entitlements, shared storm drainage design, shared access and cross easements at the site, which is adjacent to a new residential community overlooking a nature preserve. After construction began, Remedy and Kayne Anderson Real Estate also spearheaded a cost containment initiative that reduced the budget by more than $1 million without compromising building functionality, staff and patient well-being, or schedule.

A super-efficient layout was required for the highly dense program, including an impressive 21-infusion bay cancer center, 38 exam rooms, comprehensive imaging, lab and pharmacy. Based on patient preferences, the registration area was reduced by 60% and a walk-up desk with kiosks was used for faster self check-in, an experience in line with retail shops like Apple or an airport. 

“Thanks to Remedy and Kayne Anderson Real Estate’s agile, financially savvy and creative development team, Silver Cross and PSMG’s first expansion project will be delivered on time and under budget,” said Joe Magliochetti, chief investment officer for Remedy. “Orland Park and Chicago’s southwest suburbs will benefit from a state-of-the-art outpatient destination connected to the surrounding community, and the well-being of staff and patients will be enhanced by evidence-based design.”

Studies show that natural light is crucial to health and human performance. The building employs an unusually large amount of glass, allowing natural light to fill waiting areas and corridors for a better patient experience. Staff work areas, typically placed on the interior, are situated along the window line. Additionally, most of the building’s infusion bays also sit on the window line for the best possible patient experience during long and often tiring treatments. Movement is encouraged by an open staircase, robust outdoor gathering areas and walking paths connected to the nearby community and nature preserve.

Creating a Premier Regional Orthopedic Destination

UBMD Orthopedics & Sports Medicine (UBMD-OSM) is the largest orthopedic practice in Western New York and the care team of the Buffalo Bills. The 40-physician group needed a larger, more efficient floorplate and better location than its multi-floor site in Amherst. But it also had a bigger vision: create a premier regional outpatient destination with a truly comprehensive approach to orthopedics by integrating multiple specialties into one modern complex.

After a rigorous search, the development team helped UBMD-OSM secure a 15-acre site off Millersport Highway. The site offers prominent visibility, location within the town’s medical corridor, and proximity to University of Buffalo’s North Campus athletic facilities as well as Northtown Center, Western New York’s feature multipurpose sports facility.

The development team helped with tenant recruitment and leasing. At opening, the facility was 100% leased, bringing together top-tier providers under one roof to deliver a strategic mix of services—orthopedics, sports medicine, physical therapy, general surgery, radiology/imaging, primary care, gastroenterology, lab and an impressive 39,000-square-foot, seven-operating room ambulatory surgery center (ASC). Kaleida Health, a hospital partner in the project, plans to add additional specialties over time. The facility will also host UB-affiliated experts in care and academic research.

“716 Health epitomizes healthcare’s shift toward cost-effective outpatient centers,” Westmeyer said. “In addition to UBMD-OSM, tenants such as UBMD General Surgery are consolidating scattered offices into this new location, taking advantage of shared infrastructure, referral synergies and the opportunity to create a signature patient experience.”

About Kayne Anderson Real Estate
Kayne Anderson Real Estate is a leading real estate investment firm, managing approximately $15 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 $34 billion alternative investment management firm with more than 39 years of successful experience in the real estate, renewable and energy infrastructure, energy, credit, and growth capital sectors. For more information, visit https://www.kayneanderson.com/real-estate/.

About Ciminelli Real Estate
Headquartered in Buffalo, NY, with a real estate portfolio of over 27 million square feet, Ciminelli Real Estate Corporation provides commercial real estate services including development, property management, investments, residential management, asset management, tenant representation, real estate consulting, and brokerage services to over 350 international, national, and local clients in New York, Florida, Massachusetts, and Pennsylvania.

About HREI Insights Awards
Founded in 2003, Healthcare Real Estate Insights (HREI) is the nation’s first and only print and digital media organization entirely devoted to covering healthcare real estate (HRE) development, financing, and investment. The HREI Insights Awards™ are the first and only national awards dedicated to recognizing excellence in the areas of HRE development and executive leadership. The winners of the 2023 HREI Insights Awards will be announced February 28, 2024. For more information on the awards, please visit HREInsights.com.

CHICAGO, November 15, 2023 – Joint venture partners Remedy Medical Properties and Kayne Anderson Real Estate announced the acquisition of the 93,386-square-foot, LEED Gold-certified RUSH Oak Brook Medical Center in the Chicago suburb of Oak Brook.

The three-story medical office building and ambulatory surgery center (ASC), located at 2011 York Road, sits on 3.516 acres and is 99% long-term leased by RUSH University System for Health, one of the top health systems in the U.S., and Midwest Orthopaedics at RUSH, a division of OrthoMidwest and the top-ranked orthopedic and spine practice in Illinois.

Completed in 2018, RUSH Oak Brook is an orthopedic center of excellence, and also serves as an outpatient healthcare hub for more than 20 other clinical specialties in Chicago’s affluent western suburbs. Services include physical therapy and rehabilitation; neurosurgery; ear, nose and throat; OB/GYN; dermatology; pain management; gastroenterology; and primary care, among others.

The building features a high-volume, Certificate of Need (CON) protected, multi-specialty surgery center featuring six operating rooms, two procedure rooms and 28 patient bays. The facility also boasts more than 65 exam rooms, outpatient surgical suites, an advanced imaging center, and in-house lab services.

The facility was built to suit in 2018, and features a modern metal and glass curtain wall design, with a covered patient drop-off area and attractive landscaping. Interior details include a two-story atrium main lobby with a dark wood feature wall, ornamental LED lighting and a seating lounge. Architect CannonDesign utilized a “universal grid” modular design strategy to maximize the medical offices for adaptability and long-term value. An attached parking structure offers 492 free valet or self-park spaces and offers direct building access on each floor.

“As a Chicago-based company, we are thrilled to acquire this trophy building in our home market,” says Joe Magliochetti, chief investment officer for Remedy. “The RUSH Oak Brook Medical Center increases our portfolio in the Chicago market to 2.55 million square feet. In addition, Remedy has an existing relationship with OrthoMidwest, and this was a great opportunity to expand our relationship with one of the best orthopedic groups in the country, as well as one of the leading academic medical centers in RUSH.”

“RUSH developed this state-of-the-art property to be their multi-specialty hub in Chicago’s west suburbs, as its two acute care hospitals are located further east in Chicago and Oak Park. Surgery center procedure volumes at Oak Brook have outpaced RUSH’s original expectations, and outpatient orthopedic surgical volume is expected to increase sharply over the next decade,” says Antonio Minchella, senior managing director, medical office, for Kayne Anderson Real Estate. “The Certificate of Need creates a high barrier to entry for competitors and further ensures the long-term profitability of this facility.”

RUSH Oak Brook is ideally located, with convenient access to several of Chicagoland’s primary thoroughfares, including the Tri-State Tollway, I-88, Illinois Route 83 and Roosevelt Road. Approximately 6 million people live within a 30-minute drive, and the average household income within a 1-mile radius of the facility is $187,151, which is 1.5 times the national average. The surrounding community boasts a wealth of amenities, including the Oakbrook Center mall, numerous restaurants and five golf courses. The facility is within 10 miles of eight major hospitals, including Elmhurst Memorial Hospital, Loyola University Medical Center and Advocate Good Samaritan Hospital.

About Kayne Anderson Real Estate Kayne Anderson Real Estate is a leading real estate investment firm, managing over $14.5 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 $33 billion alternative investment management firm with more than 39 years of successful experience in the real estate, renewable and energy infrastructure, energy, credit, and growth capital sectors. For more information, visit https://www.kayneanderson.com/real-estate/.

FRISCO, Texas, and CHICAGO, Oct. 18, 2023 – Joint venture partners Remedy Medical Properties and Kayne Anderson Real Estate announced the acquisition of the 161,264-square-foot Baylor Scott & White Frisco Medical Center in the Dallas-Ft Worth suburb of Frisco. 

The two-story, 68-bed specialty hospital, located at 5601 Warren Parkway, sits on 7.4 acres and is 100% occupied by Texas Health Ventures Group, a joint venture between Baylor Scott & White (BSW), the largest non-profit health system in Texas and one of the largest in the country, and United Surgical Partners International (USPI), the nation’s largest ambulatory surgery platform. 

BSW Frisco Medical Center is a world class surgical center consistently ranked among the best in the country, featuring 11 operating rooms including two robotic surgery rooms. The hospital’s services include orthopedics, OB/GYN, labor delivery/NICU, urology, spine, radiology, and general surgery, as well as an emergency department and onsite pharmacy. The facility boasts a suite of resort-like amenities for both patients and guests, such as complimentary valet parking, private rooms, and more. Included in the purchase is the adjacent two-story parking garage.

“This was an attractive opportunity to secure a fully leased medical center that has a strong growth trajectory in one of the hottest markets in the country,” says Joe Magliochetti, chief investment officer for Remedy. “The BSW Frisco Medical Center is performing very well, and is benefiting from a notable increase in outpatient and ambulatory services, with orthopedic care as the primary driving force. In addition, Remedy has existing relationships with Baylor Scott & White and USPI, and we are pleased to be able to further strengthen those relationships through this acquisition.”

“The Dallas-Fort Worth region is growing rapidly, and the Frisco market area is the epicenter of that growth,” says Antonio Minchella, senior managing director, medical office, for Kayne Anderson Real Estate. “Baylor Scott & White is committed to serving the Frisco area through this location. They entered a long-term lease extension prior to the purchase, and are investing in the building to both improve the patient experience and upgrade and enhance surgical capacity.”

Frisco is the fastest-growing large city in the country over the past decade, according to the U.S. Census, with a compound annual growth rate (CAGR) of 10.9%, compared to a median CAGR of 0.9% nationwide. The city’s average household income is $181,000, which is 74% higher than the national average. 

The campus location is ideal, with easy access to two of North Texas’s primary thoroughfares, the Dallas North Tollway and Sam Rayburn Tollway and within 10 miles of six major hospitals, including Children’s Medical Center Plano and Baylor Scott & White Centennial Hospital. It’s also just one mile from The Star, the headquarters and training facility of the Dallas Cowboys.

About Kayne Anderson Real Estate

Kayne Anderson Real Estate is a leading real estate investment firm, managing over $14.5 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 $33 billion alternative investment management firm with more than 39 years of successful experience in the real estate, renewable and energy infrastructure, energy, credit, and growth capital sectors. For more information, visit https://www.kayneanderson.com/real-estate/.

CHICAGO (October 17, 2023) — Remedy Medical Properties is pleased to announce that COO/CFO Krysta Bavlsik has been named by Crain’s Chicago Business to the 2023 class of its 40 Under 40 list. The annual honor recognizes people from a wide range of industries who are proven leaders in their field and have not yet reached their 40th birthday. The full list of this year’s honorees may be found at https://www.chicagobusiness.com/40-under-40.

“This is such a deserving honor for Krysta,” says Peter Westmeyer, founder of Remedy. “The quality of her work is impeccable, but the quality of her character is what sets her apart and makes her an indispensable part of our organization.”

Bavlsik is among a select group of women executives in the commercial real estate industry, where fewer than 10% of C-suite roles are held by women, according to REjournals. As COO/CFO, she focuses on operational efficiencies within the company and overseeing strategic initiatives. By leading Remedy’s diversity, equity and inclusion initiatives, Bavlsik uplifts those around her and creates opportunities for everyone’s voices to be heard.

“Krysta is active in all new departmental and company initiatives and is continually putting infrastructure in place to pave the way for Remedy to continue its aggressive growth,” says Westmeyer. “She has the pulse on everything going on at Remedy and connects with all our personnel, no matter what their level, and understands their role. She’s always willing to get in the weeds and do the work needed.”

With Bavlsik’s influence, Remedy has emerged as the foremost private owner and operator of healthcare properties in the nation, comprising a portfolio of nearly 30 million square feet across 25 offices spanning 43 states. Over the past eight years, Remedy, with its joint venture partner Kayne Anderson, has successfully invested more than $10 billion in medical office buildings and outpatient healthcare facilities. Even amid the challenges of the 2020 pandemic, Remedy achieved its most active year ever, spending over $2 billion on strategic acquisitions and developments. Bavlsik has also played a pivotal role in coordinating six large recapitalizations comprising more than 350 buildings, 14 million square feet, and over $5.3 billion.

Recognizing that Remedy’s success hinges on that of its healthcare partners, Bavlsik’s initiatives are aimed at improving the tenant experience and adding additional flexibility to Remedy’s platform. She has an extensive background that ranges from scientific research to investment modeling and forecasting — which she puts to work for more than just real estate.

This is only the most recent accolade for Bavlsik, who was selected as a Connect Media National Next Generation Honoree in 2019 and Real Estate Forum’s 50 under 40 in 2016. Prior to joining Remedy, she was a member of the research and strategy team at LaSalle Investment Management.

Bavlsik is a lifelong Chicagoan, having grown up in a blue-collar family in the Southwest Side neighborhood of Garfield Ridge. After high school, she worked as a physics research assistant at Argonne National Laboratory. She attended the University of Chicago, where she earned a bachelor’s degree in economics and was an intern with the City of Chicago before joining LaSalle Investment Management as a research analyst. In 2010, she joined MBRE Healthcare, which later spun out to form Remedy Medical Properties. She lives in River Forest.

Weekly business newspaper Crain’s Chicago Business has published its annual list of 40 leaders under the age of 40 since 1989. Notable past honorees include President Barack Obama, Oprah Winfrey, Governor J.B. Pritzker, Christie Hefner and Ken Griffin. A full list may be found at ChicagoBusiness.com/40archive.

FAYETTEVILLE, Ga., and CHICAGO, Aug. 2, 2023 – Remedy Medical Properties and Kayne Anderson Real Estate (KA Real Estate), together the nation’s largest private owner of healthcare properties, has acquired a two-building portfolio on the high-performing Piedmont Fayette Hospital campus in the south Atlanta suburb of Fayetteville.

The acquisition, which closed June 30, further expands and reinforces the relationship between Piedmont Healthcare Inc. and Remedy, already the health system’s largest landlord.

With Piedmont wanting to close by the end of its fiscal year, the fast-moving deal went from contract to close in about 28 days, normally taking from 60 to 90 days. But principals of Chicago-based Remedy and Boca Raton-based KA Real Estate say the speed of the acquisition of the five-story Class A+ medical office buildings (MOBs), named 1265 East and 1267 West, was just one of the mutually beneficial attributes of the transaction.

“These two MOBs are a highly strategic asset, not only for the campus, but also for Piedmont’s entire southeast Atlanta service area,” says Joe Magliochetti, Chief Investment Officer of Remedy. “The desirable demographics of this area, combined with an award-winning hospital, a portfolio with a tightly affiliated, high-caliber tenancy, and strong patient referral from outpatient care to the Piedmont hospital for inpatient procedures, are all hallmarks of a winning scenario for Remedy, Kayne Anderson Real Estate, and our partners at Piedmont.”

Other outstanding qualities of the two MOBs include their physical attachment to the high-volume, 282-bed hospital itself, along with some shared systems. With Remedy and KA Real Estate, Piedmont is getting a partner and property manager that will actively manage those systems to the benefit of both the inpatient and outpatient spaces.

“The location is excellent, in a growing area, and strong medical office submarket, with a strong healthcare demographic base,” Mr. Magliochetti continues. “It’s rare to find an investment opportunity with this combination of attributes in the Atlanta MSA.” 

The facilities, located at 1265 and 1267 Highway 54 W., are 97 percent leased by leading regional physician groups featuring diverse clinical specialties with strategic hospital affiliations. Specialties housed in the properties include oncology, a heart institute, imaging, infusion, women’s health, sleep health, cardiac rehab, nephrology, orthopedics, general surgery, endocrinology, physical therapy, pulmonology, and digestive healthcare. The 1265 building offers an ambulatory surgery center (ASC) and endoscopy lab.

“These two properties are home to a multitude of outstanding tenants with a weighted average lease term (WALT) just shy of 12 years,” says Antonio Minchella, Senior Managing Director, Medical Office, Kayne Anderson Real Estate. “Coupled with the high occupancy rate, this all but guarantees that these will be high-performing assets for many years to come.

“The two mission-critical facilities also offer a variety of attractive amenities,” Mr. Minchella adds, “including the seamless connection to the hospital, multiple covered patient drop-off and pick-up areas, free surface parking and shuttles, and an onsite Chick-fil-A restaurant.”

CBRE U.S. Healthcare & Life Sciences served as the broker for the transaction.

About Kayne Anderson Real Estate Kayne Anderson Real Estate (“KA Real Estate”) is a leading real estate private equity investor in medical office, seniors housing, off-campus student housing, multifamily housing and self-storage. KA Real Estate manages $14 billion of real estate AUM across opportunistic equity, core equity and real estate debt. KA Real Estate is part of Kayne Anderson Capital Advisors, L.P., a $32 billion alternative investment management firm with more than 39 years of successful experience in the real estate, infrastructure, credit, and growth capital sectors (as of 6/30/2023).

WESTOVER HILLS, Texas, and CHICAGO, June 28, 2023 – Chicago-based Remedy Medical Properties and its development partner San Antonio-based Medical Facilities Holdings (MFH) announced that they have completed a new 59,741-square-foot medical office building (MOB) containing a new ambulatory surgery center (ASC) for Physician Surgical Network Affiliates (PSN) in the northwestern San Antonio suburb of Westover Hills.

PSN began seeing patients and performing surgeries in May at the new surgery center located in the two-story Westover Hills MOB located at 10622 State Highway 151. The rest of the facility is actively being leased up.

Jordan Fowler, CEO of PSN Affiliates | Legent Health, said the new MOB/ASC is part of the organization’s ongoing strategic expansion plans.

“We have been steadily expanding our services throughout Texas. We saw an important need for a new MOB and the expansion of what was an existing two operating room ASC in the northwestern San Antonio suburbs,” says Mr. Fowler. “Although we have had an established presence in the San Antonio area for some time, this was our first ground-up development and in a highly affluent market, so we are very pleased with the successful outcome.”

Jim Moylan, EVP | Design & Construction for Remedy, notes that the company took over development of the project after the design phase was complete. Then, working closely with PSN, MFH and the design team, Remedy implemented various changes to the plans to align with overall project objectives.

“When construction progressed, PSN decided to expand the ASC floorplate,” says Mr. Moylan. “We accommodated the new design by reconfiguring tenant space on the first floor and reworking plans for the equipment sterilization room. We are pleased that our company could be highly flexible and responsive to our client’s needs at every step of the development process.”

The completed building features a contemporary design with a 40-foot grand entrance lobby and a second-floor cafe dining area with patio seating. The 15,121-square-foot ASC boasts four operating rooms with shelled space for additional future ORs.

Mr. Moylan adds, “This is the first of several new developments that Remedy, MFH and PSN are partnering on, so the changes and lessons we learned will have an important impact on the design of the health system’s future ASCs.”

In addition to Mr. Moylan, Design & Construction Leader for the project, the Remedy team included: David Martin, Development Leader; Darrell Phillips, Land Development Oversight; Kyle Edington, Design Oversight; Keith Cantwell, Construction Oversight; and Rob Burkitt, Asset Management. The other experienced members of the project team were Austin, Texas-based Polkinghorn Group Architects; E.E. Reed Construction, which is headquartered in Sugar Land, Texas; and lender Ally Bank. In addition to developing and owning the new facility, Remedy also is serving as the asset manager and property manager.

About Medical Facilities Holdings

Founded in 2019, San Antonio based Medical Facilities Holdings (MFH) has earned its reputation as a leading real estate development company specializing in the healthcare sector. MFH delivers real property for state-of-the-art medical services through ground-up development, renovations, and distressed facility turnaround. With expertise in managing and operating surgery centers, surgical hospitals, and medical office buildings, MFH is equipped to unlock value in sites and maximize their potential.

About Physician Surgical Network Affiliates

Founded in 2017, Plano, Texas-based Physician Surgical Network Affiliates (PSN) offers world-class surgical hospitals and outpatient surgery centers, including 13 in Texas and one in Florida. PSN’s services include spine care; orthopedics; chronic pain care; ear, nose and throat; gastrointestinal; and general surgery. For more information, please visit www.psnaffiliates.com.

ENGLEWOOD, Colo., and CHICAGO, June 22, 2023 – Joint venture (JV) partners Remedy Medical Properties and Kayne Anderson Real Estate have acquired a trophy medical office portfolio in the Denver suburb of Englewood.

The acquisition of the two-building, 68,195 square foot Dry Creek Medical Campus closed April 12.

Principals of Chicago-based Remedy and Boca Raton, Fla.-based Kayne Anderson Real Estate – which, aside from hospitals and health systems, are the nation’s largest private owners of medical properties – say the acquisition has many upsides and provides their firms with a number of benefits.

“This acquisition gives us the opportunity to invest in a strong, highly coveted market with excellent demographics,” says Joe Magliochetti, Chief Investment Officer of Remedy. “The Denver area is one of America’s fastest growing regions. There are almost 234,000 residents within a five-mile radius of this property, and the population is forecasted to grow 3.4 percent between 2022 and 2027, compared to only 1.2 percent for the United States as a whole.”

The area also boasts an average household income of nearly $159,000, which is 51 percent more than the national average. As home to 10 Fortune 500 companies, the area also has a diverse, thriving economy with a steady influx of highly educated, talented workers.

“The campus location is also ideal, with easy access to local transportation,” Mr. Magliochetti adds. “It’s two blocks from Interstate Highway 25 and the Dry Creek Light Rail Station, and close to two major airports. It’s also within 10 miles of seven major hospitals, including Sky Ridge Medical Center, Littleton Adventist Hospital and Centennial Hospital.”

The facilities, located at 135 and 145 Inverness Drive E., are 100 percent leased by six leading healthcare providers with complementary specialties. Services are centered around a full-service ambulatory surgery center (ASC) leased to Orthopedic Centers of Colorado (OCC) in partnership with SCA Health, the national leader in specialty care, which is owned by UnitedHealth Group. Dr. Metz Bariatric Surgery, which is also on the campus, recently became part of HealthOne, one of the leading health systems in Colorado. Other specialties housed in the properties include imaging, spine, orthopedics, anesthesia and dermatology.

“The properties house high-quality, well-respected medical tenants that have average remaining lease terms of almost nine years,” says Antonio Minchella, Senior Managing Director, Medical Office, Kayne Anderson Real Estate. “With average annual net operating income (NOI) growth of 3 percent, the assets will deliver a steady, predictable and growing income stream.”

Mr. Minchella adds that the two properties are relatively new, with the three-story 145 Inverness Drive building built in 2019 and the one-story 135 Inverness Drive facility built in 2000. The one-story building was completely renovated into an orthopedic surgery center in 2021 and now features seven operating rooms, three convalescent care rooms, and pre-op and post-op areas.

“The surgery center has been very successful and active, performing more than 500 surgeries a month, which is among the busiest in the Denver area,” he adds.

CBRE U.S. Healthcare & Life Sciences served as the broker for the transaction.

About Kayne Anderson Real Estate

Kayne Anderson Real Estate (“KA Real Estate”) is a leading real estate private equity investor in medical office, senior housing, off-campus student housing, multifamily housing and self-storage. KA Real Estate manages $14.5 billion of real estate AUM across opportunistic equity and real estate debt. KA Real Estate is part of Kayne Anderson Capital Advisors, L.P., a $34 billion alternative investment management firm with more than 38 years of successful experience in the real estate, infrastructure, credit, and growth capital sectors (as of 9/30/2022).

BEAVERCREEK, Ohio, and CHICAGO, March 9, 2023 – One of Chicago-based Remedy Medical Properties’ new developments has been named a winner in the prestigious 2022 HREI Insights Awards, an annual awards program that recognizes excellence in healthcare real estate (HRE) development and executive leadership.

Remedy received the prestigious national award for the new 14,658-square-foot Premier Health Free-Standing Emergency Department (FSED) in the east Dayton suburb of Beavercreek. The award was in the category of Best New Medical Office Building (MOB) or Other Outpatient Facility of Less Than 25,000 Square Feet.

The HREI magazine editor and publisher presented the award to Remedy March 1 during the Revista Medical Real Estate Investment Forum in Bonita Springs, Fla. The award winners were selected by the HREI Editorial Advisory Board, which is comprised of a panel of experienced HRE executives.

“We are very pleased to be honored with the nationally recognized HREI award for the new Premier Health FSED,” says Remedy CEO Peter Westmeyer. “I congratulate our entire development team for their stellar award-winning work.”

Mr. Westmeyer continues, “Beavercreek and the surrounding communities have experienced strong growth, so this expansion will help Premier meet the increased need for emergency services and give residents more options. Speed-to-market was essential to Premier because of the tremendous demand, and we’re proud that we met their timeline. Even though the emergency department only recently opened, it’s already been a home run for Premier, which is experiencing robust patient volumes while averaging a 6-minute wait.”

Located on 3.9 acres at 2400 Lakeview Drive in the Fairfield Commons retail district, the new one-story FSED is conveniently connected to an outpatient medical building that Premier opened in late 2019. The new facility is staffed by board-certified Miami Valley Hospital emergency medicine physicians comprising the Dayton area’s most experienced Level I Trauma Center team. The FSED features: 12 emergency treatment rooms, including two trauma bays; imaging services, including a CT scanner, X-ray and mobile MRI area; an ambulance canopy; and 117 surface parking spaces.

In addition to Remedy, the other experienced members of the project team were: Cincinnati-based Champlin Architecture; Shook Construction of Dayton, Ohio;  and the local office of Chicago-based Cushman & Wakefield, which is serving as the property manager of the facility.

CHICAGO and ORLAND PARK, Ill., Jan. 11, 2023 A partnership of Chicago-based healthcare real estate developer Remedy Medical Properties and two leading Illinois-based healthcare providers, Silver Cross Hospital and Premier Suburban Medical Group (PSMG), broke ground Nov. 14 for the new Orland Park Medical Building.

Located in the southern Chicago suburb of Orland Park, the two-story, 42,000-square-foot facility is slated for completion in early 2024.

“We are very excited to begin developing a new medical facility for two highly experienced and well-respected healthcare providers that have been serving residents in the Chicago area for many years,” says Peter Westmeyer, Remedy’s Founder. “The new Orland Park Medical Building will provide area residents with greater accessibility to top-notch medical services.”

David Martin, Executive Vice President of Development with Remedy, adds, “Silver Cross Hospital has earned numerous national distinctions for exceptional patient safety, experience and outcomes and has partnered with Chicago’s leading academic medical centers to bring the very latest care to the community. Premier Suburban Medical Group has been providing a wealth of medical services and specialties to local residents for decades.  We are pleased to work with these two organizations to build this facility.”

Ruth Colby, President and Chief Executive Officer of Silver Cross Hospital, says her organization first formed a partnership with PSMG (formerly Pronger Smith Medical Care) in 2020.

“At Silver Cross we’re always advancing and finding ways to better serve our communities,” Colby said. “We’re thrilled to partner with PSMG on this beautiful new facility that will bring needed healthcare services and physician offices to the residents of Orland Park and surrounding areas.”

Located on the northeast corner of 171st Street and LaGrange Road, Orland Park Medical Building will house 12 primary care physicians and a wide range of specialty care practices. This includes gastroenterologists, general surgeons, obstetrics/gynecologists, and a cardiologist, endocrinologist, hematologist/oncologist and orthopedic surgeon. In addition, it will feature comprehensive outpatient imaging services, a 21-station infusion center, an endoscopy suite with two procedure rooms and after-hours care.

In addition to Remedy, the other experienced members of the project team are Jensen & Halstead architects and general contractor Leopardo Companies, both based in Chicago.

About Silver Cross Hospital

Silver Cross Hospital is an independent, not-for-profit healthcare provider serving Will County and southwest suburban communities since 1895. Silver Cross has been recognized as a Fortune/Merative 100 Top Hospitals® National Award winner 10 times and honored with an “A” Hospital Safety Grade by The Leapfrog Group. With over 4,500 employees, physicians and volunteers, Silver Cross operates a 348-bed acute care hospital – including Will County’s first and only Level 3 Neonatal Intensive Care Unit – and 12 satellite facilities providing outpatient services and physician offices. Silver Cross opened a state-of-the-art replacement hospital in 2012 at I-355 and Route 6 in New Lenox. In 2021, Silver Cross provided over $42 million in charity care and other community benefits. To learn more about Silver Cross Hospital or a referral to a physician on staff, visit www.silvercross.org. Physicians on Silver Cross Hospital’s Medical Staff have expertise in their areas of practice to meet the needs of patients seeking their care. These physicians are independent practitioners on the Medical Staff and are not the agents or employees of Silver Cross Hospital. They treat patients based upon their independent medical judgment and they bill patients separately for their services

CHICAGO and BOCA RATON, Fla., Jan. 4, 2023 – Joint venture (JV) partners Remedy Medical Properties and Kayne Anderson Real Estate announced today that they have acquired a high-quality, fully leased medical office portfolio consisting of 13 properties in eight states, totaling 300,328 square feet, from Montecito Medical. The $131 million transaction closed in late December.

Principals of Chicago-based Remedy and Boca Raton, Fla.-based Kayne Anderson Real Estate, the nation’s largest owners of medical properties, say this is a significant, strategic acquisition consisting of properties that are well positioned for continued success.

“The properties in the portfolio are ideally located in strong, growing markets with excellent demographics,” says Peter Westmeyer, Founder of Remedy. “The Clarksville, Tenn., medical building, for example, is located in close proximity to Nashville in an area experiencing significant growth. The Precision Spine practice in the Tyler, Texas, property is one of the few spine and pain management practices in the area, enabling it to garner significant market share. All of this bodes well for the tenants to continue to grow and thrive.”

“The properties are all 100 percent leased to experienced, highly-regarded physicians and health systems with excellent track records, strong patient bases and, in some cases, nationally-renowned parent companies,” says Joe Magliochetti, Chief Investment Officer for Remedy.

“A case in point is Optum-Marsh, which is located in the Indianapolis property. Optum-Marsh, which is owned by United Health’s OptumCare, is a strong investment grade tenancy and a dominant practice in the area. Another is the Halo Chico Breast Center in Chico, Calif. The building is 100 percent leased and has an exceptional remaining lease term of 14.3 years.

“And the list goes on. We are pleased to have such high-quality, prominent healthcare tenants in our properties and look forward to their continued success.”

The portfolio is 100 percent leased on a long-term basis with a weighted average lease term (WALT) of 10.4 years. The practices in the buildings represent a wide range of medical specialties, including orthopedics, neurology, gastroenterology, radiology, imaging and surgery. Jordan Young Institute, an orthopedic practice in Virginia Beach, Va., and Indianapolis-based Optum-Marsh, which provides general surgery, family medicine and other medical services, are managed by a third party via a vendor agreement. The other buildings are self-managed.

Newmark served as the broker for the transaction.

About Kayne Anderson Real Estate

Kayne Anderson Real Estate (“KA Real Estate”) is a leading real estate private equity investor in medical office, senior housing, off-campus student housing, multifamily housing and self-storage. KA Real Estate manages $14.5 billion of real estate AUM across opportunistic equity and real estate debt. KA Real Estate is part of Kayne Anderson Capital Advisors, L.P., a $34 billion alternative investment management firm with more than 38 years of successful experience in the real estate, infrastructure, credit, and growth capital sectors (as of 9/30/2022).

RENO, Nev., and CHICAGO, Dec. 19, 2022  – A joint venture (JV) partnership of Urology Nevada, the largest, most comprehensive urology practice in Northern Nevada, and Chicago-based developer Remedy Medical Properties recently completed an 8,255-square-foot expansion to the healthcare provider’s surgery center/medical office building (MOB) in Reno.

“This project was a strategic alignment of our acquisition and development teams that enabled us to acquire the property as well as expand it at the same time,” says Joe Magliochetti, Chief Investment Officer for Remedy. “We worked well together across multiple teams, allowing us to successfully deliver the project on the client’s timeline.”

Previously, officials at Urology Nevada determined that they needed to expand their facilities to address the population growth and increased need for additional healthcare services in the Reno-Tahoe region. They decided to combine two of their three Reno medical offices into one 21,576-square-foot regional care center. The new facility, located at 5560 Kietzke Lane, was completed in spring 2018. This latest addition brings the overall building size to 29,830 square feet.

Stephen Gabelich, CEO of Urology Nevada, says, “This expansion will enable Urology Nevada to offer additional surgical capabilities and treatments. It also will serve as a one-stop-shopping urology center, providing all surgeries and procedures in one convenient location.”

The facility includes two operating rooms, four procedure rooms and 12 pre-op/recovery rooms offering treatments and procedures that will include cryotherapy, microwave therapies, laser therapies, as well as shock wave and laser treatments for kidney stone disease.

In addition to Remedy, the other experienced members of the project team were general contractor Miles Construction, which is headquartered in Carson City, Nev., and the Boulder, Colo., office of architect Boulder Associates.

About Urology Nevada
Urology Nevada is the largest, most comprehensive urology practice in Northern Nevada. The board-certified doctors of Urology Nevada diagnose and treat the full range of urologic conditions for men, women, teens and children. The highly skilled team provides an extensive range of treatments and services within our state-of-the-art facility located in Reno, Nev. Services ranging from chronic care management to advanced cancer treatment are all part of our commitment to the communities we serve. For more information, please visit https://urologynevada.com.

BRUNSWICK, Ohio, and CHICAGO, Nov. 2, 2022 – Joint venture (JV) partners Remedy Medical Properties and Kayne Anderson Real Estate announced that they have acquired the 34,519-square-foot Atrium of Brunswick in the Cleveland suburb of Brunswick. The $10.75 million transaction closed Aug. 23.

The two-story medical office building (MOB), located at 1299 Industrial Parkway N., is 100 percent occupied by two tenants, including One GI, a gastroenterology group that recently acquired the building’s original tenant and seller Digestive Disease Consultants (DDC).

The MOB also houses MetroHealth, which operates four hospitals and other healthcare facilities throughout the Cleveland area. MetroHealth operates a primary care and pediatrics practice at the MOB, with rotating specialties that include dermatology, rheumatology and sleep medicine.

For Chicago-based Remedy and Boca Raton-based Kayne Anderson Real Estate, the nation’s largest owners of medical properties, the acquisition is a strategic opportunity for their companies.

“This was an attractive off-market opportunity to secure a fully leased medical building with strong tenancy,” says Joe Magliochetti, Chief Investment Officer for Remedy. “Remedy already had existing relationships with DDC and MetroHealth and this transaction will allow us to expand those relationships at the local level. In addition, it will enable us to build a new relationship with the national gastro group One GI, which is one of the fastest growing GI platforms in the country.

“We’re also pleased with One GI’s long-term lease,” Mr. Magliochetti continues. “Shortly after One GI acquired DDC, it signed a new, 12-year lease with 2 percent annual escalations. The other major tenant, MetroHealth, has a lease that expires in 2025, but we are confident they will renew based on their investment in the space and the strategic location of the property in Northern Medina County. The facility is surrounded by a large, growing, 65-plus population, which we expect will result in strong demand for medical services at the MOB.”

Capital One provided financing for the transaction.

About Kayne Anderson Real Estate

Kayne Anderson Real Estate (“KA Real Estate”) is a leading real estate private equity investor in medical office, senior housing, off-campus student housing, multifamily housing and self-storage. KA Real Estate manages $14.5 billion of real estate AUM across opportunistic equity and real estate debt. KA Real Estate is part of Kayne Anderson Capital Advisors, L.P., a $34 billion alternative investment management firm with more than 38 years of successful experience in the real estate, infrastructure, credit, and growth capital sectors (as of 9/30/2022).