Outpatient Hospital in West Bloomfield Has New Ownership
Investors closed on the sale of the 149,000 square foot Beaumont Medical Center in December.
The Beaumont Medical Center in West Bloomfield is under new ownership, including a local property developer who plans to continue offering outpatient health service.
KIRCO Health Partners of Troy and Seavest Properties, a private investment management firm based in White Plains, NY, partnered on the purchase of the 149,000 square foot outpatient medical campus, which was renovated in 2007.
Terms of the sale, which closed Dec. 19, 2012, were not disclosed.
The majority of the building is leased by the Beaumont Health System with the rest of the space set aside for independent physician practices. Seavest administration said, in a release issued Wednesday, that it felt confident in the model of health care offered there.
"The Beaumont Medical Center acquisition is aligned with our strong belief in the off-campus model of large hospital-centric, multi-specialty outpatient medical facilities," Seavest Executive Vice President Jonathan L. Winer said.
"We believe in the Michigan market and particularly the Detroit suburbs which are benefiting from the rebounding auto industry and other economic development initiatives."
This is Seavest's second acquisition in Michigan. In 2011, Seavest and KIRCO formed a joint venture to convert an office building in Dearborn to an outpatient facility for Henry Ford Medical Center and other tenants. As in Dearborn, KIRCO will serve as property manager and handle leasing for the West Bloomfield property.
"We will ensure that the building is operated in a first class manner benefiting our tenants and their patients," Winer said. "Investors have been slow to recognize the many positive trends taking place in the state, but that is now beginning to change."
The three-story building, which opened in 1989 is located on 11 acres at 6900 Orchard Lake Rd. The outpatient medical campus includes the Beaumont West Bloomfield Ambulatory Surgery Center LLC, which provides general surgery, orthopedics, vascular surgery and plastic surgery. The medical office building also houses a wide range of other specialties, including cardiology diagnostics, children's rehabilitation, nuclear medicine, adult physical therapy/occupational therapy, radiology, lab services and a pharmacy.