Angioplasty Center, Hospital of St. Raphael
Bristol-based American Construction Group recently completed the renovation of the Angioplasty Center at New Haven-based The Hospital of St. Raphael and signed a contract to begin work on the hospital’s psychiatric ward.
ACG completed the renovation of 1,300 square feet of laboratory and patient-care space in the hospital’s Angioplasty Center. The project featured specialized systems and supporting structures required to accommodate the new Siemens Bi-plane Angiography Machine, which officials described as an important addition to the hospital’s clinical care.
The new contract calls for ACG to renovate 10,000 square feet of space for the hospital’s psychiatric ward. The project will include the renovation and upgrading of existing medical space, new heating, ventilation and air conditioning, as well aesthetic improvements.
“American Construction Group has completed a number of successful projects at The Hospital of St. Raphael,” said Bill Licata, chief operating officer for ACG. “The design-build approach that ACG provides is ideal for fast-track medical projects and we are honored to be selected for additional work.”
ACG is a design-build firm that provides turnkey services for medical facilities, corporate offices, educational facilities, manufacturing companies and nonprofit organizations. ACG has provided design-build services for other hospitals and health care institutions, including Danbury Hospital and Bristol Hospital.
Shopping Center Financing Set
L.J. Melody & Co., the real estate investment banking division of CB Richard Ellis, has arranged financing in the amount of $16.7 million for Wilton Shopping Center.
The proceeds of the loan were used to refinance and defease an existing loan held by another mortgage lender. The cost of defeasing was justified by the additional loan proceeds generated and the increased cash flow made possible by a lower constant on the new loan. Bear Stearns Commercial Mortgage provided the funding.
Tim Harwood, assisted by Bill Catanzaro, of L.J. Melody & Co.’s Stamford office secured the funding for the transaction.
G.E. Division Signs Lease
Kevin C. Geenty, president of The Geenty Group, Realtors, in Branford, recently completed a long-term lease involving 2,550 square feet of flex office/storage space at 20 Research Parkway in Old Saybrook. The lease includes options to renew.
The unit leased is one of seven in a 20,000-square-foot flex building located in the Old Saybrook Business Park. Geenty represented the landlord, Mill Meadow Development. The tenant is G.E. Engine Services, a small General Electric division that was previously located in Waterford and is now relocating to the business park. The tenant was represented by Daniel Barber of the Northeast Property Group, who has completed a large number of real estate transactions on behalf of General Electric Co.
