Medical Center East parent company Eastern Health System Inc. has completed an agreement to allow the hospital company to begin building a 200,000-square-foot medical office building in Birmingham this month.
The project is expected to be completed in late 2005 or early 2006 and is driven by a need for additional space to house Medical Center East’s diagnostic services and new physician staff.
The agreement will allow the developer, INKANA Development, to acquire, build and manage the new facility as well as two existing professional buildings on the Medical Center East campus.
The medical office building is one element of a $67.8 million hospital campus expansion project that began last year. Medical Center East also is building a four-floor, 75,000-square-foot addition to its existing two-story North Patient Tower. The expansion is scheduled to open this spring.
Brasfield & Gorrie, which is completing the North Tower addition, will serve as general contractor for the new project. Compass Bank is providing construction financing. Permanent financing will be provided by General Electric Healthcare Financial Services.
The non-profit Eastern Health System also operates Medical Center Blount in Oneonta; St. Clair Regional Hospital in Pell City; Lakeview Long Term Care Facility; Lake Villa Specialty Care Assisted Living facility; and various physician practices.
To develop, acquire, lease, and manage quality properties while maintaining relationships of integrity.
Our company was established on the cornerstone of helping our clients achieve their long-term goals. Success, for us, only happens when it’s shared with the organizations we serve.
Founded in 1997 and based in Birmingham, Alabama, INKANA Healthcare Development is a fully integrated commercial real estate company focused on serving nonprofit hospital systems.
We assist clients in achieving their strategic, financial, and operational goals through project finance, strategic planning, conceptual budgeting, design, construction, regulatory compliance, property management, and tenant representation services.
Whether as a third-party facility manager or for off-balance sheet ownership of a real estate asset, INKANA Healthcare Development supports clients as much as they need throughout the development process so they can better develop, manage, and own their real estate.