Flagler Health, UF Health Sign Letter Of Intent To Collaborate On Health Campus

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St. Augustine, Fla.-based Flagler Health+ has signed a letter of intent with Gainsville-based University of Florida Health to collaborate on a comprehensive health campus in Florida.

If a final deal is reached, the healthcare campus would be built on a 40-acre parcel of land in St. Johns, Fla., which was bought last year by Flagler. The land is known as Flagler’s Durbin Park Campus.

With the letter of intent, which is nonbinding, the two organizations will explore options for the healthcare campus. The options being considered include building hospital facilities and ambulatory surgery centers, as well as establishing space for medical residency programs or other educational programs.

Flagler Health+ already plans to build its health village on the parcel, but is now looking to expand its health campus with UF Health. Flagler expects to break ground on the health village this fall.

“Collaboration is an important part of our strategy at Flagler Health+, as we look to create individualized experiences and customized service offerings for the distinctly unique communities we serve today, and those we will serve in the future,” said Flagler Health+ President & CEO Jason Barrett.

“We are looking forward to continuing discussions with Flagler Health+ to establish shared goals on behalf of residents of the region,” said David Nelson, MD, president of UF Health.

 

Source: Becker’s Hospital Review

Ridgeline Capital Partners Acquires 10 Medical Office Buildings In Dallas-Fort Worth Metroplex

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Dallas-based Ridgeline Capital Partners, an investment firm focused on acquiring and operating healthcare real estate, has acquired a portfolio of 10 fully leased medical office buildings with a total of 99,072 square feet.

The one and two-story properties are principally located in Tarrant County (Fort Worth) on commercial corridors with high traffic.

The $5.3 million of equity capital raised on CrowdStreet was from 79 investors on the platform. CrowdStreet operates an online commercial real estate investment marketplace that gives investors access to institutional-quality offerings.

The primary tenant is U.S. Renal Care, the third-largest dialysis center operator in the U.S. The company is the sole tenant or the primary tenant at each of the 10 buildings. The other tenant is PPG Health, a multi-specialty healthcare organization with 30 locations in Dallas-Fort Worth.

Dialysis patients require consistent treatment for their entire lives until they get a transplant, which could be up to 10 years. The U.S. 1972 Medicare ESRD program insures any American who needs dialysis, insulating the industry from economic cycles. Dialysis tenants are highly sticky with an estimated historic 99% tenant retention rate for the industry. This is due to the lengthy 18-month+ licensing process for new facilities, the significant upfront capital investment required, and the necessity for frequent visits from patients who are referred by local medical providers.

The acquired properties are NNN (triple-net-leased) with tenants responsible for all expenses including taxes, insurance and maintenance.

In Sponsor’s Own Words

Jeffrey Axleym Founder and Managing Principal, Ridgeline Capital Partners, Dallas, Texas

“This was Ridgeline’s third offering on the CrowdStreet Marketplace and, as I suspected, the deal was a good fit for CrowdStreet’s investment team and the individual investors who chose to participate. The portfolio is 100% net leased, nicely cash flowing, with tenants that provide medical services that are needed in any economic environment. Ridgeline plans to add value to the properties and, likely, sell the properties individually. It’s an understandable story to investors, who are looking for yield and stability in these tumultuous times.”

In CrowdStreet’s Own Words

Ian Formigle, Chief Investment Officer, CrowdStreet, Portland, Oregon

“Despite the current market uncertainty, there was extremely high investor demand for this offering. We are seeing that our investors continue to have an appetite for investment opportunities like this one – a recession-resistant business plan, a sponsor with a strong track record, and deep expertise with the asset class.” 

 

Source: HREI

Doctors And Dentists Offices Begin Reopening In South Florida

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Many doctors and dentists closed their offices during the coronavirus lockdown.

Now, as they begin to reopen, it’s becoming clear that visiting the doctor’s office will come with a whole new set of rules. As things slowly start to creep toward normality places like dentists offices are figuring out what a new normal is going to look like.

Throughout the coronavirus pandemic, dentist offices have had a tough choice to make; whether to remain open for emergencies or close completely, to ensure their patients, staff, and families were safe.

“I have a newborn that was born in February, so going home after that’s going on with COVID, you want to take those extra precautions,” said Dr. Joshua Golden with West Sunrise Dentistry. “But I knew this is what I signed up for once I became a dentist. I need to take care of my patients.”

Doctor Golden said that’s why he chose to stay open, seeing patients through virtual means for minor situations and in person, for more serious stuff.

“We would basically triage the patient over the phone, see what they needed,” Dr. Golden explained. “Let’s say it’s a broken tooth. If it’s a broken tooth, it’s sharp, it’s hurting you, that is an emergency.”

It was the same for Doctor Arnaldo Lopez of the Somi Dental Group in South Miami. He told Local 10 News‘ Ian Margol they had patients come from as far as Naples and Fort Myers for help because there were so few offices open. And Lopez says, they were learning on the fly.

“Every day was completely different,” said Dr. Lopez. “Some days we might have one patient and I would have half of the staff come in, and out of nowhere five patients would call and I would have to call the staff last-minute because they were all basically on call.”

Click here to view the WPLG Local 10 News video ‘Closed For Coronavirus, Many South Florida Doctors And Dentists Begin Reopening Offices‘

 

Source: Local 10 News