NexCore Group Announces Completion of St. Anthony North Medical Pavilion

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Integrated Freestanding ED/Medical Office Building 97% Leased at Grand Opening

St. Anthony North Medical Pavilion, Westminster, Colo.

We are extremely pleased that the building is almost fully leased prior to the official Grand Opening.

NexCore Group LP, a top-ranked national healthcare real estate developer, has completed the 48,000 square foot St. Anthony North Medical Pavilion (a hospital-affiliated freestanding emergency department and medical office building) in Westminster, a fast-growing suburb of the north Denver metro area. The outpatient facility is the second of three that NexCore will complete in 2012.

NexCore developed the $26 million Medical Pavilion in collaboration with St. Anthony North Hospital, a full-service, acute-care community hospital and member of Centura Health, Colorado’s largest network of hospitals and healthcare services.

The two-story Medical Pavilion is the first facility to be constructed on St. Anthony North’s 35-acre greenfield campus located on the southwest corner of the Interstate 25 and 144th Avenue interchange, directly across from The Orchard Town Center, a 1 million square foot, regional, open-air shopping center.

In early September, the Medical Pavilion will begin offering over 220,000 residents convenient access to a broad array of hospital services, including a 24-hour emergency department, imaging center (including general radiology, CT, MRI and ultrasound), women’s breast imaging center, clinic, laboratory and heliport (Flight for Life® emergency air transport). Hospital-employed primary care physicians and specialty physicians (including cardiologists, neurologists and orthopedists) will provide a variety of additional services in the hospital clinic.

Last week, St. Anthony North signed an additional lease in the Medical Pavilion to house its gastrointestinal lab, which will also be a licensed ambulatory surgery center. The new lease brings the building’s occupancy to 97 percent.

“We are extremely pleased that the building is almost fully leased prior to the official Grand Opening,” says Jarrod Daddis, Executive Managing Director at NexCore Group. “We couldn’t have achieved this leasing success without the hospital’s strong leadership team and the physician tenants who believed in the vision for this project.”

While the Grand Opening ceremony for the Medical Pavilion will take place on Aug. 29, and most hospital services will open for business in early September, the building’s three independent physician tenants – True Orthopedics, May Eye Clinic, and Advantage ENT LLP – have been seeing patients in their new suites for the past month.

“I’m very excited to be practicing medicine on the Medical Pavilion campus alongside St. Anthony North Hospital,” says Dr. Michael Bagley, owner of True Orthopedics. “My patients love the convenient location and the look of our new office, and I have the opportunity to grow my practice in a state-of-the-art outpatient facility in a large, underserved market.”

Grand Opening Ceremony

St. Anthony North Hospital will host a Grand Opening celebration for the Medical Pavilion on Wednesday, Aug. 29 from 9 a.m. to 12 p.m. The Medical Pavilion is located at 400 W. 144th Avenue in Westminster, just west of the 144th Avenue/I-25 interchange.

About NexCore Group LP

NexCore Group delivers comprehensive healthcare real estate solutions for hospitals, healthcare systems, and physician partners across the United States. Recognized by Modern Healthcare as one of the Top 20 Healthcare Real Estate Developers since spinning off from its predecessor company in 2004, NexCore has become one of the nation’s most active and respected healthcare developers. NexCore has grown its operating platform, expanded with regional offices, and increased its portfolio of developed, acquired, and managed projects to include over 5.5 million square feet of facilities, with over 1.9 million square feet currently under management. NexCore is headquartered in Denver, with offices in Chicago and Bethesda, Md. For more information, please visit http://www.nexcoregroup.com. Contact: Tracy Hindman, Marketing Director, 303-244-0700.

About St. Anthony North Hospital

St. Anthony North Hospital is a full-service, 196-bed acute care facility offering a full complement of emergency, medical and surgical services. St. Anthony North is part of Centura Health, Colorado’s largest hospital and health care network delivering advanced care to more than half a million people each year, across 15 hospitals, seven senior living communities, medical clinics, Flight For Life® and home care and hospice services. St. Anthony North’s and Centura's strength lies in the ability to offer a team of connected networks and shared resources to deliver accessible, reliable and cost-effective health care across the state.
This press release contains forward-looking statements. Such forward-looking statements are based on current expectations and projections made by our management. These statements are not guarantees of future performance and are subject to certain risks, uncertainties and assumptions that are difficult to predict. The Company assumes no obligation to update publicly any forward-looking statements, whether as a result of new information, future events or otherwise. 

Fact Sheet

St. Anthony North Medical Pavilion
http://www.nexcoregroup.com/in-development/StAnthonyNorthMedicalPavilion

Location: 400 W. 144th Ave., Westminster, Colo. 80023 (at the intersection of I-25 and 144th Avenue)

Size: Two levels, 48,000 gross square feet

Construction Start: June 2011

Occupancy: August 2012

Client: St. Anthony North Hospital, Westminster, Colo. (member of Centura Health)

Developer: NexCore Group LP, Denver

Owner: The project is being financed and will be owned by NexCore Group

Architect: Davis Partnership Architects, Denver

Construction Manager: Calcon Constructors, Denver

Property Manager: NexCore Properties LLC, Denver

Asset Manager: NexCore Properties LLC, Denver

NexCore Group LP
1621 18th St., Suite 250
Denver, CO 80202
303.244.0700 t ■ 303.244.0720 f ■ nexcoregroup.com

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Tracy Hindman
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