Hammond Hanlon Camp LLC Advises Ciminelli Real Estate Corporation on Debt Financing of Medical Outpatient and Research Facility in Buffalo, New York
posted on May 4, 2017
NEW YORK — Hammond Hanlon Camp LLC (H2C), a healthcare-focused investment banking firm, served as the exclusive financial advisor to Ciminelli Real Estate Corporation and Seavest Healthcare Properties LLC for the permanent debt financing of Conventus, a 350,000 square-foot medical outpatient and research facility located in downtown Buffalo, NY.
Conventus is located in the heart of the growing Buffalo Niagara Medical Campus and physically connected with nearly every existing and planned facility in its vicinity. The campus is home to Kaleida Health, Roswell Cancer Institute and a multitude of other healthcare providers and medical research organizations. The property was honored by ULI-New York with its 2016 Excellence in Office Development award, which acknowledges projects that raise the bar for development, design, planning and sustainability.
“H2C’s proven excellence as a healthcare real estate advisor was critical to our engaging their services, and essential to realizing the successful development of Conventus,” said Paul Ciminelli, President and Chief Executive Officer of Ciminelli Real Estate Corporation. ”We are excited to be working together again on our next healthcare project at 33 High Street, which will be located adjacent to Conventus.”
Securing the $75 million, five-year take-out loan was H2C’s most recent involvement with Conventus. In 2013, H2C advised Ciminelli on the construction financing, equity capital raise and joint venture structure that provided the initial funding for Conventus’ development. H2C’s extensive knowledge of the project and targeted financing process generated significant interest from lenders across the financing spectrum including life insurance companies and national and regional banks.
“H2C was pleased to work with Ciminelli and Seavest on one of the most high-profile and successful developments that has ever been developed in the Buffalo-area,” said Jay Miele, Managing Director of H2C. “Securing the permanent financing was the culmination of over 20-years of planning and dedication by Paul Ciminelli and his team.” Email Jay
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"H2C’s proven excellence as a healthcare real estate advisor was critical to our engaging their services, and essential to realizing the successful development of Conventus.
We are excited to be working together again on our next healthcare project at 33 High Street, which will be located adjacent to Conventus.”
- Paul Ciminelli,
President and CEO,
Ciminelli Real Estate
ABOUT CIMINELLI REAL ESTATE CORPORATION
Ciminelli Real Estate Corporation is a full service corporate real estate firm that is a leading developer and owner of commercial properties in Buffalo, throughout the Western New York region and beyond. The Company specializes in a full range of commercial real estate services, including development, asset management, property management, brokerage, acquisition, disposition, and LEED consulting services, among others. Visit Ciminelli at www.ciminelli.com.
ABOUT HAMMOND HANLON CAMP LLC
Hammond Hanlon Camp LLC (“H2C”) is an independent strategic advisory and investment banking firm committed to providing superior advice as a trusted advisor to healthcare organizations and related companies throughout the United States. H2C’s professionals have a long track record of success in healthcare mergers and acquisitions, capital markets, real estate and restructuring transactions, acting as lead advisors on hundreds of transactions representing billions of dollars in value. Hammond Hanlon Camp LLC offers securities through its wholly-owned subsidiary H2C Securities Inc., member FINRA/SIPC. For more information, visit h2c.com.