Catalyst Healthcare, National Real Estate Advisors Launch 2 MOBs

Two medical office projects, totaling 184,000 square feet, are underway outside Jackson, Miss. Catalyst Healthcare Real Estate, in partnership with National Real Estate Advisors, recently broke ground on an 85,000-square-foot medical facility in Ridgeland, Miss., while Boldt Healthcare Real Estate Development is continuing the construction of a 99,000-square-foot medical office building in Madison, Miss.

CommercialEdge data shows that the two projects are the only medical office developments under construction in Jackson. The metro area’s inventory comprises 174 facilities totaling more than 3 million square feet.

Catalyst’s expanding portfolio

Ridgeland medical office building. Image courtesy of Catalyst Healthcare Real Estate and National Real Estate Advisors

Slated for completion in the third quarter of this year, the three-story Ridgeland facility will offer a wide range of medical services, including oncology, cardiology and imaging.

The medical office building is taking shape on the southwest corner of West Frontage Road and Colony Park Boulevard, adjacent to The Township at Colony Park mixed-use community. The location is approximately 13 miles from downtown Jackson.

According to CommercialEdge data, Catalyst owns 13 medical office buildings, having a particularly strong market presence in the South and on the East Coast.

Last year, after having formed a $1.5 billion partnership with National Real Estate Advisors, the company purchased two portfolios, which included health-care assets, for $420 million. The properties are located in several states across the U.S., including Florida, Georgia, Texas and Connecticut.

The newest addition to a growing campus

Madison medical office building. Image courtesy of Newmark

Boldt Healthcare Real Estate Development, in partnership with Baptist Memorial Health Care, broke ground on the Madison facility last year in November, according to Baptist Leader, with completion expected in the first quarter of 2024.

The joint venture recently received a $30 million construction loan for the project from a regional bank, a deal arranged by Newmark. The brokerage team included Senior Managing Directors Jay Miele and John Nero, Executive Managing Director Ben Appel and Senior Managing Director Michael Greely, alongside Associates Adam Goss and Ron Ott.

Representing the newest addition to Baptist’s Madison Campus, the four-story medical facility will come online at the intersection of Highway 463 and Highland Colony Parkway, with access to Interstate 55. Downtown Jackson is less than 15 miles away.

In fact, the campus is slated for more expansion. Last February, Baptist Memorial Health Care announced plans to build a new on-site inpatient rehabilitation facility, in partnership with Kindred Rehabilitation Services, a business unit of LifePoint Health. The two-story building would comprise more than 56,000 square feet.