Two Remedy and Kayne Anderson Real Estate MOBs Named Finalists in the 2023 HREI Insights Awards

CHICAGO, January 17, 2024 – Two medical office buildings (MOBs) developed by Remedy Medical Properties and Kayne Anderson Real Estate have been named as finalists in the 2023 HREI Insights Awards, an annual awards program that recognizes excellence in healthcare real estate development and executive leadership nationwide.

Peter Westmeyer, founder of Remedy, announced today that Silver Cross Orland Park Medical Pavilion, a two-story, 41,000-square-foot multispecialty outpatient center in Orland Park, Illinois, has been selected as a finalist in the “Best New Medical Office Buildings and Other Outpatient Facilities, 25,000 to 49,999 square feet” category. In addition, 716 Health, a 163,000-square-foot orthopedic, sports medicine and surgical complex in Amherst, New York, developed by Remedy and Kayne Anderson Real Estate in partnership with Ciminelli Real Estate, has been selected as a finalist in the “Best New Medical Office Buildings and Other Outpatient Facilities, 100,000 square feet or more” category.

“Our team is truly honored to receive recognition from HREI for these two outstanding healthcare real estate developments,” Westmeyer said. “These projects are emblematic of the level of dedication and creativity Remedy brings to all of its developments. It’s really gratifying to have our hard work acknowledged by such a prestigious awards program.”

Building a Showcase MOB with Quality of Life in Mind

Silver Cross Hospital and Premier Suburban Medical Group (PSMG) formed a strategic joint venture to expand their networks in southwest Chicagoland. Following a brief relationship with a different developer, Silver Cross partnered with Remedy and Kayne Anderson Real Estate, which immediately got to work to put the project back on schedule and reduce costs. Remedy’s in-house land manager and legal team, along with Kayne Anderson Real Estate’s legal and design and construction teams, played a crucial role in making up for lost time, taking care of entitlements, shared storm drainage design, shared access and cross easements at the site, which is adjacent to a new residential community overlooking a nature preserve. After construction began, Remedy and Kayne Anderson Real Estate also spearheaded a cost containment initiative that reduced the budget by more than $1 million without compromising building functionality, staff and patient well-being, or schedule.

A super-efficient layout was required for the highly dense program, including an impressive 21-infusion bay cancer center, 38 exam rooms, comprehensive imaging, lab and pharmacy. Based on patient preferences, the registration area was reduced by 60% and a walk-up desk with kiosks was used for faster self check-in, an experience in line with retail shops like Apple or an airport. 

“Thanks to Remedy and Kayne Anderson Real Estate’s agile, financially savvy and creative development team, Silver Cross and PSMG’s first expansion project will be delivered on time and under budget,” said Joe Magliochetti, chief investment officer for Remedy. “Orland Park and Chicago’s southwest suburbs will benefit from a state-of-the-art outpatient destination connected to the surrounding community, and the well-being of staff and patients will be enhanced by evidence-based design.”

Studies show that natural light is crucial to health and human performance. The building employs an unusually large amount of glass, allowing natural light to fill waiting areas and corridors for a better patient experience. Staff work areas, typically placed on the interior, are situated along the window line. Additionally, most of the building’s infusion bays also sit on the window line for the best possible patient experience during long and often tiring treatments. Movement is encouraged by an open staircase, robust outdoor gathering areas and walking paths connected to the nearby community and nature preserve.

Creating a Premier Regional Orthopedic Destination

UBMD Orthopedics & Sports Medicine (UBMD-OSM) is the largest orthopedic practice in Western New York and the care team of the Buffalo Bills. The 40-physician group needed a larger, more efficient floorplate and better location than its multi-floor site in Amherst. But it also had a bigger vision: create a premier regional outpatient destination with a truly comprehensive approach to orthopedics by integrating multiple specialties into one modern complex.

After a rigorous search, the development team helped UBMD-OSM secure a 15-acre site off Millersport Highway. The site offers prominent visibility, location within the town’s medical corridor, and proximity to University of Buffalo’s North Campus athletic facilities as well as Northtown Center, Western New York’s feature multipurpose sports facility.

The development team helped with tenant recruitment and leasing. At opening, the facility was 100% leased, bringing together top-tier providers under one roof to deliver a strategic mix of services—orthopedics, sports medicine, physical therapy, general surgery, radiology/imaging, primary care, gastroenterology, lab and an impressive 39,000-square-foot, seven-operating room ambulatory surgery center (ASC). Kaleida Health, a hospital partner in the project, plans to add additional specialties over time. The facility will also host UB-affiliated experts in care and academic research.

“716 Health epitomizes healthcare’s shift toward cost-effective outpatient centers,” Westmeyer said. “In addition to UBMD-OSM, tenants such as UBMD General Surgery are consolidating scattered offices into this new location, taking advantage of shared infrastructure, referral synergies and the opportunity to create a signature patient experience.”

About Kayne Anderson Real Estate
Kayne Anderson Real Estate is a leading real estate investment firm, managing approximately $15 billion in assets under management across opportunistic equity, core equity, and real estate debt, with sector expertise in medical office, seniors housing, off-campus student housing, multifamily housing, and self-storage. Kayne Anderson Real Estate is part of Kayne Anderson, a $34 billion alternative investment management firm with more than 39 years of successful experience in the real estate, renewable and energy infrastructure, energy, credit, and growth capital sectors.

About Ciminelli Real Estate
Headquartered in Buffalo, NY, with a real estate portfolio of over 27 million square feet, Ciminelli Real Estate Corporation provides commercial real estate services including development, property management, investments, residential management, asset management, tenant representation, real estate consulting, and brokerage services to over 350 international, national, and local clients in New York, Florida, Massachusetts, and Pennsylvania.

About HREI Insights Awards
Founded in 2003, Healthcare Real Estate Insights (HREI) is the nation’s first and only print and digital media organization entirely devoted to covering healthcare real estate (HRE) development, financing, and investment. The HREI Insights Awards™ are the first and only national awards dedicated to recognizing excellence in the areas of HRE development and executive leadership. The winners of the 2023 HREI Insights Awards will be announced February 28, 2024. For more information on the awards, please visit HREInsights.com.