Healthcare: Real estate’s bright spot?
by Urvaksh Karkaria for Atlanta Business Chronicle
Piedmont Medical Plaza LP, which is developing a large medical office building in Newnan, has raised nearly 75 percent of a planned $8 million round of financing, according to a Securities & Exchange Commission filing.
The 125,000-square-foot medical office building is being built on the planned Piedmont Newnan Hospital campus.
The $20 million-plus medical office building, scheduled to open in February 2012, will be attached by covered walkway to a 136-bed replacement hospital under construction by Piedmont Healthcare.
Piedmont Medical Plaza will be owned by a partnership, which includes Meadows & Ohly LLC, and physicians who are tenants of the building.
Metro Atlanta’s real estate market is seeing a spurt in medical construction, especially medical office buildings.
Several major hospital systems, including WellStar Health System and Children’s Healthcare of Atlanta, have announced, or recently completed, such facilities as they move more medical services out of crowded and expensive hospital settings.
