Matagorda Regional Medical Center Campus (Bay City, TX)

·  Project:  8,500 s.f. Dialysis Clinic and Medical Office Building

·  Project Cost: Approximately $1.4M

·  Tenancy: Bay City Regional Dialysis Center operated by American Renal Associates (Boston, MA); 16 to 20-station outpatient dialysis clinic; Nephrologist Office

·  Occupancy: Scheduled for September 2010

Greystone is pleased to announce the ground breaking of the Bay City Regional Dialysis Center on April 1, 2010. This dialysis center is being developed to meet an increasing need for outpatient dialysis in Bay City, Texas area. This new facility, currently under construction on the Matagorda Regional Medical Center (MRMC) campus, will house a state of the art, 16-station, expandable dialysis center along with office space for the Medical Director’s practice.  Design and construction services are both being provided by firms based in Houston.  Ownership of the new clinic will be held by Texas Healthcare Holdings I, a joint venture based in Tennessee with both in-state and out-of-state members.  Construction is scheduled to take just over five months and occupancy is planned for September.

Greystone has been engaged as Owner’s Representative by MRMC for over two years assisting with campus master planning and development of supporting facilities.

West Park Hospital (Cody, WY)

Project Summary: Greystone Brokerage & Development is pleased to announce that the grand opening of West Park Hospital's Cathcart Health Center took place on April 14, 2009 with over 600 visitors in attendance for the ribbon-cutting events. This 62,000 sq. ft. medical office building located on Yellowstone Avenue in Cody, WY opened on schedule and within budget. Among the many highlights of the new multi-specialty, medical office building is the "green" building design features and the old west architectural theme that were both incorporated into its construction. Initially it will be occupied by Northern Wyoming Ophthalmology, Absaroka Orthopaedics, Big Horn Foot Clinic, and Northern Rockies Neuro-Spine as well as WPH's Outpatient Rehab Services, Behavioral Health, Primary Care, Urgent Care Clinic, and General / Vascular Surgery offices. The facility will also include the Coe Pharmacy and the Healing Grounds Coffee Bar, both owned and operated by WPH.

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Greystone is providing turn-key development and leasing services for West Park Hospital's new satellite campus medical office building. This 62,000 square foot, Class-A multi-tenant facility was designed by Johnson Johnson Crabtree Architects (Nashville, TN) to complement Cody's old west architectural theme while incorporating some of the latest construction technology and "green building" design features. It will house three floors of healthcare related tenants including an Urgent Care Center, Pharmacy, Physical Therapy/Rehabilitation and multiple physician practices and specialties. Brasfield & Gorrie (Birmingham, AL), currently ranked as one of the nation's top two healthcare contractors, will complete construction of the facility in the Spring of 2009. Greystone initially performed a Market and Feasibility Study for West Park Hospital and was subsequently engaged to provide Leasing, Design and Construction Management, Financing Consultation and Project Coordination services.

The Dupont Hospital (Fort Wayne, Indiana)

• Project: Medical Office Facility - Renovations and Leasing
• Size: 97,000 square feet
• Construction: Exterior Renovations, Interior Finishes Replacement, Systems Upgrades, Tenant Interior Renovations
• Project Costs: Approximately $1.6M
• Tenancy: Dupont Center for Breast Health, Three Rivers Surgical, The Children's Health Center, The Knee & Shoulder Center
• Occupancy: Lease Renewals: 2nd & 3rd Quarters of 2008

Dupont Hospital and parent company Community Health Systems selected Greystone to perform tenant lease consulting and design and construction management for an extensive exterior/interior building renovation and lease renewal project.

Franklin Foundation Hospital  (Franklin, LA)

• Project: On-Campus Medical Office Facility 
• Size: To Be Determined
• Construction: Medical Facility Designed to Complement the New Hospital
• Building Cost: To Be Determined
• Tenancy: To Be Determined
• Occupancy: To Be Determined

Franklin Foundation Hospital engaged Greystone, through its strategic alliance with American Health Facilities Development (Brentwood, TN), to perform a Market and Feasibility Study to assess the viability for one or more medical office buildings to complement the new Hospital campus. In the fall of 2009, Greystone obtained information from hospital administration, physicians, practice managers, local real estate professionals, contractors and codes officials to gauge the interest in and need for a new facility along with any challenges associated with developing an on-site, multi-tenant project.  Greystone then presented its findings to the Franklin Foundation Board giving its comprehensive assessment and recommendations for the location, size, scope, tenancy, ownership structure, lease terms and estimated costs for an initial medical office development. Franklin Foundation Hospital has elected to proceed with these recommendations and is currently implementing the initial steps of development.

Gritman Medical Center (Moscow, Idaho)

Project: Satellite Medical Campus; Two Multi-Tenant Medical Office Buildings

MOB I

• Size: 7,700 square feet;
• Construction: Class-A Amenities; Brick, Stone and Exposed Timber Exterior; Covered Patient Drop-Off;
• Building Cost: Approximately $2M
• Tenancy: General and Plastic Surgery
• Occupancy: Scheduled for 3rd quarter 2008

MOB II

• Size: 29,200 square feet; 2 Floors
• Construction: Class-A Amenities; Brick, Stone and Exposed Timber Exterior; Covered Patient Drop-Off;
• Building Cost: Approximately $7M
• Tenancy: Fresenius Dialysis Clinic, Inland Orthopaedics, Moscow Family Medicine, Gritman Radiology Center
• Occupancy: Scheduled for 2nd quarter 2009

Greystone was selected by Gritman Medical Center to perform a market study and fee-for-service leasing and consulting for a satellite campus medical office building development.

Bluffton Health System, LLC (Bluffton, Indiana)

Properties:
Markle Medical Center – Markle, IN
Markle Medical Center – Warren, IN

Size:
6,014 square feet / 1.35 acres (Markle office)
3,129 square feet / 1.715 acres (Warren office)

Building Improvements: HVAC unit replacement, roof replacement, parking lot resurfacing, and tenant interior upgrades

Tenancy: Family Health Care, OB-GYN, General Surgery, Laboratory Services, & After Hours Clinic

Greystone is pleased to announce the acquisitions of the Markle Medical Center buildings in Markle & Warren, Indiana on April 17, 2009. Each facility in cooperation with Bluffton Regional Medical Center is staffed by family medicine, OB-GYN, and general surgery physicians. The Markle Medical Center located at 201 East South Street serves the surrounding Wells County area and the office located at 824 Huntington Avenue serves the surrounding Huntington County community.  During the second and third quarters of 2009, the medical office facility in Markle will undergo several renovations including new roofing, HVAC units, and resurfacing of the parking lot to better compliment the surrounding areas and to improve the healthcare provided to the community.

Matagorda Regional Medical Center (Bay City, Texas)

• Project: New Hospital and Medical Facilities Campus
• Size: 45-acre Development: 118,000 SF Hospital; Medical Office Facilities - To Be Determined
• Construction: Medical Facilities Designed to Complement the New Hospital
• Building Cost: Hospital - Approximately $30M; Medical Facilities - To Be Determined
• Tenancy: 58 Bed Hospital Facility including Women's Center, expanded ER & ambulatory care unit; Anticipated Dialysis Clinic
• Occupancy: Hospital Grand Opening: July 15, 2009; Initial Medical Office Facility Scheduled for Summer 2010

Greystone has been engaged as the Owner's Representative for the Matagorda County Hospital District for approximately two years. Initially contracted for a Feasibility and Market Study, Greystone is now providing campus master planning, development documents and negotiations, and Request for Proposal management services. We are also partnering with American Renal Associates, Inc. and a local nephrologist on the development of an 8,500 sf Dialysis Clinic and Medical Office Building.

The Memorial Hospital (Craig, CO)

• Project: On-Campus Medical Office Facility 
• Size: To Be Determined
• Construction: Medical Facility Designed to Complement the New Hospital
• Building Cost: To Be Determined
• Tenancy: To Be Determined
• Occupancy: To Be Determined

The Memorial Hospital recently engaged Greystone to perform a Market and Feasibility Study for a medical office building to provide physician space and supporting services to its new hospital campus.  Greystone spent two days in Craig assessing comparable properties, tenant demand, market lease terms and potential development structures. After a thorough analysis of the information gathered, we made recommendations to Memorial’s executive staff and board pertaining to the size and scope, tenant improvements, lease terms, and development options for the new facility. Greystone also provided conceptual project budgets and schedules to assist with the financing decisions. Memorial is currently reviewing the recommendations prior to commencing with the project development.

St. James Parish Hospital (Lutcher, LA)

• Project: On-Campus Medical Office Facility 
• Size: To Be Determined
• Construction: Medical Facility Designed to Complement the New Hospital
• Building Cost: To Be Determined
• Tenancy: To Be Determined
• Occupancy: To Be Determined

St. James Parish Hospital engaged Greystone, through its strategic alliance with American Health Facilities Development (Brentwood, TN), to perform a Market and Feasibility Study to assess the viability for a potential medical office building to complement the new Hospital campus. In February 2010, Greystone obtained information from hospital administration, physicians, practice managers, contractors and codes officials to gauge the interest in and need for a new facility along with any challenges associated with developing an on-site, multi-tenant project.  Greystone presented its findings in April 2010 to the St. James Parish Hospital Board giving its comprehensive assessment and recommendations for the location, size, scope, tenancy, ownership structure, lease terms and estimated costs for an initial medical office development.  Once the Hospital has reached a decision regarding its medical office building options, Greystone will submit a proposal for development services.

Wilkes-Barre General Hospital (Wilkes-Barre, PA)

• Project: Off-Campus Medical Office Facility 
• Size: To Be Determined
• Construction: Medical Facility Designed to Complement the Mountain Top community
• Building Cost: To Be Determined
• Tenancy: To Be Determined
• Occupancy: To Be Determined

Wilkes-Barre General Hospital, part of Community Health Systems’ (Franklin, TN) network of hospitals, engaged Greystone to perform a Market and Feasibility Study to assess the viability for a new medical office building serving patients in nearby Mountain Top, PA. Greystone recently spent three days in the Mountain Top market meeting with hospital administration, physicians, practice managers, local real estate professionals, design specialists and codes officials to assess the demand, location, terms and costs for a new facility. Greystone has since provided to the Wilkes-Barre General administration a comprehensive assessment along with recommendations for the location, size, scope, tenancy, ownership structure, lease terms and estimated costs for the proposed development. Both the hospital and Community Health Systems will review this information to determine the most appropriate course of action for a new facility.    Greystone is also working with the hospital administration on a proposal for medical office building development services.