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).

CHICAGO and DALLAS, Feb. 10, 2022 – Kayne Anderson Real Estate, Remedy Medical Properties and MedProperties Realty Advisors LLC are pleased to announce that the firms have formed a $350 million-plus joint venture to recapitalize an 11-state, 23-asset healthcare real estate (HRE) portfolio owned by MedProperties.

The portfolio, which includes primarily medical office buildings (MOBs), totals more than 1 million square feet. The transaction closed Jan. 14.

For Boca Raton-based Kayne Anderson Real Estate and Chicago-based Remedy, the nation’s largest owners of medical properties, the joint venture enables the firm to acquire a majority interest in another high-quality portfolio that complements its already extensive holdings.

For Dallas-based MedProperties, an HRE private equity firm with assets in 23 states, the transaction enabled the firm to monetize some of its real estate holdings for its investors while the firm retains an ownership interest in the new venture, and continues to serve as asset manager.

Darryl E. Freling, Managing Principal of MedProperties, said his company has aggregated a large number of HRE assets over the years through its various funds and investment partnerships. In the fall 2020, the firm’s leadership decided to offer a portfolio of about two-dozen of those properties as a recapitalization investment opportunity rather than an outright sale. The offering was taken to market in early 2021, and Remedy emerged as the chosen joint venture partner in the summer of that year. 

 “Aside from pricing, one of the primary reasons we elected to transact with Kayne Anderson and Remedy,” Mr. Freling explains, “was the positive, long-term working relationship we had with the firms and its principals. It was that relationship, and the mutual trust, that proved instrumental in navigating the complexities of a transaction of this size to a successful conclusion.”

Joe Magliochetti, Chief Investment Officer for Remedy, agreed that the positive working relationship between the firms was what made the joint venture possible.

“We love the make-up of the portfolio – good quality MOBs,” Mr. Magliochetti says. “The portfolio also has lots of common ground with our existing assets in terms of geography and tenancy, making it a logical addition to our holdings. But MedProperties is also a great fit. We had done some smaller deals with them, but this was a great opportunity.”

A transaction involving almost two-dozen properties owned by six different entities had its complexities, Mr. Magliochetti notes, “But we worked through them together, and it couldn’t have been better. Hopefully this joint venture will lead to more opportunities together in the future.”

“You learn a lot about people when you’re in the foxhole together,” Mr. Freling adds. “The Kayne Anderson and Remedy teams were great, pragmatic and we worked through the inevitable issues that arise in a large, complex transaction. We couldn’t have asked for more.”

The properties are located in some of the top metropolitan markets in the country, as well as in strategic secondary markets. In aggregate, the properties are 94 percent occupied and 71 percent leased by high-caliber, leading hospitals, health systems and other investment grade tenants.

The portfolio consists primarily of MOBs, but also includes some post-acute facilities such as a rehabilitation hospital and ambulatory surgery center in Texas, and a rehabilitation hospital in Ohio. Some of its well-known, investment grade healthcare tenants include Baylor Scott & White, Children’s Hospital of Los Angeles, CommonSpirit, Rady Children’s Hospital, U.S. Department of Veterans Affairs, University of Southern California, UF (University of Florida) Health and WVU (West Virginia University) Medicine.

The properties are located in the following states: Texas (eight facilities), Pennsylvania (two), Florida (two), Ohio (two), Kentucky (two), California (one), Indiana (one), West Virginia (one), Tennessee (one), New York (one), North Carolina (one) and Missouri (one).

Capital One provided senior debt for the transaction, and the CBRE Healthcare & Life Sciences Capital Markets team marketed the portfolio.

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 $13 billion of real estate AUM (as of 12/31/21) across opportunistic equity, core equity and real estate debt. KA Real Estate is part of Kayne Anderson Capital Advisors, L.P., a $30 billion alternative investment management firm (AUM as of 12/31/21) with more than 37 years of successful experience in the real estate, renewable and energy infrastructure, energy, credit, and growth capital sectors. For more information, visit https://kaynecapital.com/real-estate.

About MedProperties Realty Advisors LLC
MedProperties Realty Advisors LLC is a Dallas-based healthcare real estate private equity firm that invests on a direct and an indirect basis (through joint venture relationships) in the development of new, value-add, and stabilized healthcare real estate, including multitenant medical office buildings and single-tenant, specialty healthcare facilities throughout the U.S. MedProperties invests through its discretionary funds, and through stand-alone investment vehicles. MedProperties is dedicated solely to investments in healthcare real estate. For further information on MedProperties, please visit www.MedPropertiesLP.com.

CHICAGO and BASALT, Colo., Dec. 16, 2021 – Chicago-based Remedy Medical Properties has won the 2021 HREI Insights Award for the Best New Medical Office Building of 50,000 to 99,999 square feet. The annual, national awards recognize excellence in healthcare real estate development and executive leadership.

Remedy’s winning project was The Steadman Clinic, a 62,768-square-foot orthopedic care clinic and ambulatory surgery center (ASC) in Basalt, in western Colorado’s Roaring Fork Valley.

Peter Westmeyer, CEO of Remedy, notes, “At Remedy we are very proud to be honored by the highly respected HREI media organization for The Steadman Clinic. Our team faced many challenges in developing this facility, but they used innovative, creative strategies to overcome those challenges and to deliver a state-of-the-art orthopedic center that is ideally suited for the beautiful Rocky Mountain environment.”

He adds, “The Steadman Clinic in Basalt also will fill an important community need, making it easier and more convenient for patients to receive care close to home and the nearby ski slopes.”

The world-renowned TSC, with three offices in Vail Valley and Summit County, has a multi-year plan to expand in Colorado to improve access to cutting-edge orthopedic care, research and clinical trials. With its latest expansion in Basalt, TSC chose a high-traffic but small and challenging site in the beautiful Willits Town Center, a bustling, mixed-use, master-planned development with multiple requirements and restrictions.

To fit the required parking and robust orthopedic clinic and ASC on the .75-acre site, the development team designed the facility with three stories sitting on top of two levels of underground parking with 80 spaces and an additional 48 on-street spaces. The smaller site also meant it would have smaller floor plates, with less space for easily concealing building systems and off-stage activities, especially in the ASC. Remedy dealt with these challenges by locating building systems in the parking garage and giving considerable thought to how corridors were configured and located to maximize usable space and minimize patient exposure.

With the city requiring street-level retail space in the facility, Remedy had to avoid cannibalizing existing town center services, such as a coffee shop and spa, as well as impinging on valuable program space. Remedy solved this by convincing the city to approve MRI imaging services as a retail use.

In addition, the city required TSC to develop a community park adjacent to the new orthopedic center. To fulfill TSC’s vision of a facility that promotes wellness and an active lifestyle, Remedy designed the park as an outdoor extension of the lobby, providing a seamless transition between indoors and out. The facility also features glass curtain walls that bring in natural light and capitalize on the 360-degree mountain views, a rare feature for an MOB.

Remedy also installed solar panels on the roof to take advantage of Colorado’s 300 days of sun and create a more sustainable facility with lower operating costs. Finally, Remedy’s flexible platform allowed TSC to invest in the real estate via a joint venture.

Remedy expects to deliver the project on-time and under budget in early January, despite Rocky Mountain winter conditions, COVID-19 protocols, disrupted supply chains and a constrained town center site that complicated construction logistics.

ANDOVER, Mass., and CHICAGO, Aug. 11, 2021 – Remedy Medical Properties, the nation’s largest private owner of healthcare real estate, announced today the acquisition of the three-structure, 69,992-square-foot Andover Medical Center. The acquisition, considered to be one of Greater Boston’s premier medical office properties, is located in the highly desirable community of Andover, a suburb 25 miles north of Boston.

“Remedy is excited to announce the addition of this excellent Class A healthcare facility to our growing medical properties portfolio,” says Joe Magliochetti, Chief Investment Officer for Chicago-based Remedy. “Not only is it a beautiful, high-quality building, it is superbly located in a highly desirable submarket of Boston, and is fully occupied by very highly regarded healthcare tenants, including main anchor tenant Lawrence General Hospital and subtenants Mass General Brigham/Pentucket Medical, Orthopaedics Northeast and Boston Eye Group/Boston Laser, Andover Medical Center.”

The regional multi-specialty care center serves as a flagship off-campus outpatient facility for Lawrence General Hospital, a 186-bed community hospital located less than 10 miles away. In addition, Pentucket Medical, a member of Mass General Brigham, the largest healthcare system in Massachusetts, contributes to the impressive tenant mix. On-site services and specialties include urgent care; adult primary care; pediatrics and young adult care; gastroenterology; orthopaedics; ophthalmology; cardiology; imaging center/MRI; full-service diagnostic laboratory; Andover Surgical Associates; weight management; and physical, occupational and speech therapy.

Located at 323 Lowell St. in Andover, in the demographically attractive Boston MSA, Andover Medical Center is conveniently located directly off Interstate 93 at its intersection with Route 133, providing seamless access to patients throughout the Merrimack Valley. The medical center was constructed in two phases in 2015 and 2017 and comprises three structures: the 69,992-square foot medical office building, a 102-space structured parking garage and a freestanding 1,800 square-foot coffee shop.

“We at Remedy could not be more excited about this acquisition,” Mr. Magliochetti continues. “We were particularly attracted by the quality of the buildings and the highly esteemed tenants. The Greater Boston market is also exceptionally strong in terms of healthcare and healthcare real estate, and we are actively seeking additional opportunities in the MSA.”

Remedy’s acquisition of Cornwall Medical Pavilion closed May 4. Michael Greeley, Senior Managing Director of Newmark’s Medical-Academic Practice Group in Boston acted as the seller’s advisor.

NEWNAN, Ga., and CHICAGO, March 3, 2021 – Remedy Medical Properties, the nation’s largest private owner of healthcare properties, announced today the completion of the five-story, 113,000-square-foot Piedmont Medical Plaza II. The new medical office building (MOB) is on the Piedmont Newnan Hospital campus in Coweta County, a growing region of southwest Atlanta.

The new outpatient care facility, the second MOB on the Newnan campus, will enable Piedmont Healthcare to provide an even wider range of services there, keeping patients close to home for care.

“Remedy is very excited about our continued collaboration with Piedmont Healthcare. This beautiful new MOB will allow Piedmont to continue expanding their healthcare delivery model to this growing and vibrant region,” says Peter Westmeyer, CEO of the Chicago-based firm. “The spirit of cooperation and flexibility of all project members throughout the construction process, in the face of the pandemic and other assorted challenges, has made all the difference in bringing this important new project to the community, both on time and on budget.”

“The collaboration with Remedy and our development team made this entire process, from planning and design to completion, go smoothly despite challenges we faced during an unprecedented healthcare pandemic,” says Mike Robertson, CEO of Piedmont Newnan Hospital. “This beautiful new medical office space enables us to efficiently and cost-effectively deliver a wide variety of healthcare services close to home for our patients in Coweta and surrounding communities – all within walking distance of Piedmont Newnan Hospital.”

After breaking ground on the MOB in September 2019, the facility construction was completed in December 2020 and a phased move-in of Piedmont services was completed at the end of January 2021.

The new MOB will serve as a conveniently located, one-stop healthcare destination for patients in the growing southwestern Atlanta suburbs. The Newnan service area has a sizable population of more than 212,000, which is projected to grow significantly by 6.2 percent during the next five years. 

Located at 795 Poplar Road, the highly visible MOB is in close proximity to the Interstate 85 interchange at Poplar Road, which opened in March 2019, and offers an abundance of nearby parking for patients, physicians and staff. The facility will deliver a full complement of healthcare services by Piedmont Healthcare, including cardiology, cardiovascular imaging, cardiac and pulmonary rehab, general surgery, neurology, orthopedics, physical therapy and occupational therapy.

David Martin, Executive Vice President of Development at Remedy, says, “Piedmont Medical Plaza II was delivered despite some considerable challenges thanks to the adaptability and collaborative spirit of the entire development team.”

That team included local development consultant Carter (carterusa.com), which assisted in site selection, local permitting and construction oversight; general contractor Batson-Cook (batson-cook.com), which kept construction on schedule despite unusually heavy rains and other severe weather, and deployed highly effective pandemic protocols to ensure workplace safety without delaying the project; and architect Earl Swenson Associates Inc. (esarch.com), which designed a functional and beautiful core and shell building, greeting campus visitors at its new northern gateway.

In addition to providing strategic planning, development and leasing services, Remedy owns and will manage the facility.

Some space remains available in the new Piedmont Medical Plaza II. For leasing information, independent physician practices and other providers offering complementary services are invited to contact Remedy’s First Brian Burks, Executive Vice President, Leasing, at 770-891-2082 or BBurks@RemedyMed.com.

CHICAGO and MOUNT PLEASANT, S.C., Oct. 29, 2020 – A medical office building (MOB) developed by Remedy Medical Properties has been named a finalist in the 2020 HREI Insights Awards^™, an annual, national awards program that recognizes excellence in healthcare real estate development and executive leadership.

Peter Westmeyer, CEO of Chicago-based Remedy, announced today that The Southeastern Spine Institute – Tenet Healthcare (SSI), a three-story, 71,000-square-foot ambulatory care and surgery center in Mount Pleasant, S.C., has been selected as a finalist in the “Best New Development,  MOBs and Other Outpatient Facilities, 50,000 to 99,999 square feet” category.

“Our team is very proud to receive such esteemed recognition from HREI™ magazine for this outstanding healthcare real estate development,” Mr. Westmeyer says. “The Southeastern Spine Institute – Tenet Healthcare project came to fruition because of a unique, proactive and creative approach between the health system, physicians and real estate partner and their desire to achieve alignment. It is very gratifying to have that collaborative effort honored by such a prestigious national awards program.”

SSI, the largest medical practice in South Carolina specializing in spinal and orthopedic care, initially approached Remedy in 2018. The practice needed a new facility to both consolidate and expand its ambulatory surgery, imaging and diagnostic services in the Mount Pleasant submarket of Charleston. SSI had outgrown two original custom-built Class A medical facilities it owned.

Remedy not only developed the new facility and assisted with the transfer of its Certificate of Need (CON) from one of the prior locations, but it was also able to provide an ideal solution via an inventive sale-leaseback transaction that allowed SSI to vacate those existing buildings upon completion of the new MOB. In addition, Remedy was able to secure a new tenant for one of the former buildings, as well as facilitate a collaborative and strategic location for the new MOB at Tenet East Cooper Medical Center’s hospital campus. Aligned in the new location are SSI, its surgical partner USPI and the hospital, with each entity able to design and execute its own leases within the new building.

When SSI opened its doors at 1625 Hospital Drive in February 2020, patients were able to experience a dynamic facility that combines the expertise of three leading healthcare providers with modern office space, procedure rooms, an MRI and imaging room, a physical therapy suite, a sterile processing center, and an ambulatory surgery center. Along with all of the other benefits realized during the two-year development process, SSI now also enjoys 30 percent more space than it had before to grow its thriving practice. 

Speaking of Remedy’s pivotal role in the SSI-Tenet Healthcare success story, Mr. Westmeyer notes the importance of viewing the project in terms of the physician alignment trends of today.

“After years of consolidation and acquisition of private practices, the availability of remaining independent practices is dwindling in many markets,” Mr. Westmeyer notes. “When the well runs dry, health systems and physicians must diversify and move beyond the traditional approach to acquisition and recruitment, being especially careful to avoid the stumbling blocks inherent in the real estate intricacies of the deal. Remedy strives every day to use innovation, expertise and flexibility to overcome such obstacles, and the SSI-Tenet development embodies the successful execution of that strategy to achieve an excellent outcome.”

LEESBURG, Va., and CHICAGO, July 28, 2021 – Remedy Medical Properties, the nation’s largest private owner of healthcare real estate, announced today the acquisition of the four-story, 95,243 square foot Cornwall Medical Pavilion. The medical office building (MOB) is located in the affluent suburban community of Leesburg, 33 miles northwest of Washington, D.C. 

“We are delighted to add this outstanding facility to the Remedy Medical Properties portfolio, as it represents an opportunity to acquire an asset that meets many of the key criteria we seek,” says Joe Magliochetti, Chief Investment Officer for the Chicago-based firm. 

Located at 244-D Cornwall Street in Leesburg in the demographically attractive Loudoun County submarket, “Cornwall Medical Pavilion is the only Class A, multi-tenant medical building on the Inova Loudoun Hospital – Cornwall Campus,” Mr. Magliochetti notes. “We were attracted to the growth and stability of greater Washington D.C., especially Leesburg as the growing, vibrant seat of Loudoun County.”

Inova Loudoun Hospital – which is connected to the MOB – offers an emergency department, an imaging center, inpatient and outpatient behavior health services, and a 100-bed not-for-profit skilled nursing facility. 

“Remedy already enjoys a fruitful relationship with Inova, the dominant provider and market leader in Northern Virginia,” Mr. Magliochetti says. “That fact, combined with an existing base of outstanding tenants and providers, presents an excellent opportunity for us to enhance the MOB’s performance through Remedy’s full-service platform of market research, financing, asset management, leasing and property management.” 

Cornwall Medical Pavilion houses 15 tenants and serves as a key outpatient location for assorted regional physician specialty practices. It is anchored by Loudoun Medical Group, one of the largest independent medical groups in the Washington area. Other tenants include Privia Medical Group, DaVita and independent physician practices affiliated with Inova. 

The MOB has the use of 655 parking spaces shared with the rest of the Inova campus. 

Percival Health Advisors, an independent healthcare strategy advisory group within Remedy, “was instrumental in helping us to identify areas where Leesburg and Loudoun County were in need of fortification of some critical healthcare specialty services,” he notes. “Their analysis revealed an unmistakable opportunity and made the case for us to acquire and improve the performance of this great facility, bolster the tenant mix, and ultimately healthcare access and options for the citizens of this community.” 

Remedy’s acquisition of Cornwall Medical Pavilion closed May 5. JLL Capital Markets Group’s Brannan Knott acted as the seller’s advisor. 

Some space remains available in Cornwall Medical Pavilion. For leasing information, independent physician practices and other providers offering complementary services are invited to contact Remedy’s Daniel McGivney, Senior Vice President, Leasing, at dmcgivney@remedymed.com.

CHICAGO, Oct. 1, 2020 – The MBRE Healthcare team separated from MB Real Estate Services, Inc. today to launch a newly formed independent company, Remedy Medical Properties, Inc. Headquartered in Chicago, Remedy is the nation’s largest private owner and service provider for healthcare real estate. The new name and website, remedymed.com, reflect the company’s exclusive focus on healthcare real estate and its commitment to providing comprehensive real estate solutions to the healthcare industry.

“We are pleased to reintroduce ourselves as Remedy, which better reflects our service mission to offer solutions to health systems and physician groups,” said Peter Westmeyer, CEO of Remedy. “We have grown strategically in recent years and now want to further emphasize the innovative flexibility and healthcare industry expertise we offer. But the day-to-day experience with the new company will be the same—the same people, the same services, and the same attention to detail that our clients, tenants, and partners have come to expect.”

Through its long-standing partnership with Kayne Anderson Real Estate, Remedy has expanded its national reach, now owning and managing 20.5 million square feet of healthcare facilities and operating 22 offices across 40 states. 

“Our growth is a reflection of the way we do business,” said Krysta Bavlsik, COO/CFO of Remedy. “Clients and tenants value our rapid response time, ease of doing business, presence in local markets, and healthcare industry knowledge. In response, we’ve opened 22 offices across the country over the last 10 years to expand our hands-on approach to asset management, property management, and leasing.”

In recent years, the company has also expanded its development platform, creating a diversely skilled and highly respected development team with experience delivering 6 million square feet of medical office buildings, ambulatory surgery centers, specialty care centers, urgent/emergency care centers, rehabilitation hospitals, and more. 

Remedy has also brought the strategic innovation and advisory firm Percival Health Advisors in-house. Percival now works with Remedy’s various teams as well as independently to advise health systems and physician groups on identifying strategic partnerships and growth opportunities, optimizing delivery networks, and improving community/population health with its combination of proprietary methodologies and rigorous analytics. 

“Working seamlessly across the lines of acquisition, development, leasing, management and strategy consulting, Remedy now serves as a uniquely flexible, one-stop resource for healthcare real estate solutions that reduce costs, improve care and satisfaction, and enable successful expansion,” Westmeyer said.