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