NEW YORK, N.Y. –– Hammond Hanlon Camp LLC (H2C), through its wholly owned subsidiary H2C Securities Inc., served as the exclusive financial advisor to Ciminelli Real Estate Corporation for the financing of an innovative 300,000-square-foot medical outpatient facility currently under development in downtown Buffalo, N.Y.
The $100-million medical office building will be in the heart of the growing Buffalo Niagara Medical Campus. Called Conventus (Latin for “coming together”), the new facility will be physically connected with nearly every existing and planned facility, creating a new model for healthcare outpatient facilities. The campus is home to Kaleida Health, the largest health system in the two-county Buffalo area. Other recently completed or planned developments include additions to the John R. Oishei Children’s Hospital and the new University of Buffalo Medical School. Conventus is an integral part of this campus expansion. Construction, which commenced with site work in April, is expected to be completed in the second quarter of 2015.
“Conventus is among the largest and most significant medical office buildings currently being developed in the country and is representative of the future of healthcare outpatient facilities,” said Jay Miele, managing director of H2C. “As not-for-profit healthcare organizations continue to adapt to changing regulations and increasing patient volumes, they will need to adapt their facilities accordingly.”
PJ Camp, principal of H2C, added, “Ciminelli’s healthcare development expertise, paired with the top-tier investment capabilities of its healthcare-focused capital partner, is a dynamic combination appropriate for a project of this caliber.”
“H2C’s exclusive focus on healthcare made their real estate team uniquely qualified to execute the transaction for our $100-million medical complex,” said Paul Ciminelli, president and CEO of Ciminelli Real Estate Corporation.” We look forward to working with H2C on the second phase of this project and to a continued partnership for future healthcare real estate engagements. ”
