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Page 4 — Health Care Properties Quarterly — July 2017
Health Care News
UCHealth recently broke ground
on a more than $310 million hos-
pital designed to bring innovative,
leading-edge care and advanced
medicine to residents in Highlands
Ranch.
UCHealth Highlands Ranch Hospi-
tal will span approximately 360,000
square feet – with an adjacent
85,000-sf medical office building
housing a two-story cancer center.
The full-service hospital will open
with approximately 72 inpatient
beds with room to expand.
The six-story hospital, located at
Town Center Drive, between Lucent
Boulevard and Highlands Ranch
Parkway, is slated to open in early
2019.
“As construction begins at the
site of the future Highlands Ranch
Hospital, we look ahead with great
anticipation to the unique and
advanced health services we will
be offering to this community and
beyond,” said Diane Cookson, presi-
dent and CEO of Highlands Ranch
Hospital. “Every detail of this facility
has been designed with patient care
as the top priority so that we may
provide the very best experience and
best care for our patients.”
The hospital will feature a birth
center, including C-section operating
rooms and Level II neonatal inten-
sive care unit, intensive care unit,
operating rooms, Level III trauma
center and emergency department,
advanced cardiac services, and com-
plete imaging. UCHealth will partner
with both community physicians
and with the University of Colorado
School of Medicine to provide care at
Highlands Ranch Hospital.
“UCHealth Highlands Ranch Hos-
pital will operate under an ‘open
medical staff model,’ which means
that the physicians already practic-
ing medicine in the community will
be working alongside our University
of Colorado School of Medicine fac-
ulty to offer patients a comprehen-
sive approach to healing,” said Dr.
Tom Purcell, chief medical officer
of Highlands Ranch Hospital. “This
collaboration along with our connec-
tion to the University of Colorado
Cancer Center will offer patients
access to advanced clinical trials and
innovative treatments, right here in
their backyard.”
The new medical campus will
occupy 33 acres of the newest Shea
Properties development on the last
vacant property in Highlands Ranch.
The master plan for Central Park
spans nearly 100 acres and is orga-
nized around a future public park,
which will have an urban feel and
will include a special art element.
UCHealth is building on land owned
by the Englewood McLellan Reser-
voir Foundation.
Shea Properties and Shea Homes
will complete the remaining portion
of the development, with Shea Prop-
erties introducing a mix of 280 rental
townhomes and apartments east of
the retail village and Shea Homes
introducing a single-family home
community with 200 houses nearby.
The health campus will gener-
ate a significant economic impact
for Douglas and Jefferson counties,
including 500 to 600 construction
jobs at the site. UCHealth Highlands
Ranch Hospital will provide approxi-
mately 400 permanent health care
positions when it opens for an area
of Colorado that is projected to
increase by more than 25 percent by
2025.
The hospital will have room to
expand in the future as the needs
of the growing community change.
Mortenson Construction is the gen-
eral contractor on the project and is
supported by EYP Health, BSA Life-
Structures, Datum Engineers, Gal-
lun Snow, Affiliated Engineers Inc.,
Kimley Horn, The Lund Partnership,
BHA Design Inc., RK Mechanical and
Encore Electric.
Fund acquires first
Colorado MOB assets
Anchor Health Properties, a
national full-service leasing, man-
agement, development and invest-
ment firm focused on health care
real estate, acquired a three-property
portfolio of medical office assets in
metro Denver on behalf of Chestnut
Healthcare Partners.
Chestnut Healthcare, a core health
care real estate equity fund focused
on the acquisition of medical office
buildings, is co-managed between
Anchor Health Properties and Chest-
nut Real Estate.
The investment marks the fund’s
first foray in Colorado as Anchor
Health Properties continues its
expansion into the Western United
States.
The portfolio included Cherry Hills
Medical Plaza, 3535 S. Lafayette St. in
Englewood, 21,605 square feet; and
Highlands Ranch Medical Plaza I at
9330 S. University Blvd. and 9331 S.
Colorado Blvd. in Highlands Ranch,
22,365 and 17,723 sf, respectively.
According to public records, the
portfolio sold for $18 million.
“We are excited about the oppor-
tunity to acquire several best-in-
class outpatient medical projects in
the Denver marketplace as directly
owned investments in our Chest-
nut Healthcare Partners Fund,” said
James Schmid, chief investment
officer of Anchor Health Properties.
“The high growth demographics of
the Denver area lend themselves
well to increasing medical services.
The barriers to entry in the building
submarkets and proximity to key
medical demand drivers should fur-
ther enhance the investments over
time. We hope to build on this port-
folio to pursue other medical acqui-
sition and development opportuni-
ties across Colorado.”
Capital One provided secured debt
financing for the transaction. Real-
Source Group facilitated the sale on
behalf of the seller, Dick Siegert of
Foothills Real Estate, who developed
the buildings.
Lakewood medical office building
trades for $2.19M
A Lakewood medical and general
office building recently sold to R.W.
Properties LLC.
The buyer paid $2.19 million,
or $143.29 per square foot, for
the 15,284-sf building at 10895 W.
Asbury Ave.
MJB Management LLC sold the
building. It was represented by Josh-
ua Cohen of John Propp Commercial
Group.
The buyer was represented in the
Medical Office Opportunities
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