Navigation Links
Oaks Development Group Closes on 2.1 Acres for Medical Office Building in Palm Coast, FL
Date:10/29/2008

PALM COAST, Fla., Oct. 29 /PRNewswire/ -- North Carolina-based Oaks Development Group announced closing on the construction loan for 2.1 acres at Pinnacles Park in Palm Coast, FL. Oaks will develop a planned medical office building on the property. SunTrust Bank in Cary, NC handled the loan closing for the project. Site work is scheduled to begin by the end of the year.

Oaks is developing the 20,000-square-foot building using its unique ownership model that provides tenants with a piece of the ownership pie without requiring upfront equity. Just over 10,000 square feet is already under contract for a family dental practice, pediatrician and Doctor's Choice Lab.

"We are very pleased that we have achieved this milestone in the project. In the wake of unprecedented market turbulence and uncertainty in lending, this closing demonstrates the strength of the Oaks business model and the fact that real estate projects based on sound economic fundamentals are still financeable," says Charlie Barker, developer and partner in Oaks Development Group's Florida office.

Located in Pinnacles Park right off State Road 100, the Oaks building will sit across from the Florida Hospital Flagler. There is approximately 10,000 square feet still available under the Oaks ownership model for additional healthcare and professional tenants.

"With market fluctuations, our unique ownership model offers a stable platform for our investors and tenant partners. We build a project based on long term leases with our tenants, and we share that ownership benefit with our tenants and our investors," says Max Oaks, chairman of Oaks Development Group. "As developers, we bring more than fifteen years of experience to the table. In a volatile market, this non-speculative approach brings security and confidence to our partners. Our track record and established relationships over the last fifteen years help insulate us from market volatility."

Oaks' unique tenant ownership structure -- currently operating in more than 40 buildings across the United States -- is set up as a single purpose limited liability company (L.L.C.). Tenant partners split 50-percent ownership interest based on how much space they occupy. While there is no capital outlay required for pro rata ownerships, tenant partners may acquire additional ownership through capital investment. Oaks retains 25-percent ownership and will be responsible for professionally managing the asset over the long term. The final 25-percent is made available to equity investors. Tenant and equity partners receive distributions from operations and refinancing as the value of the investment increases over time.

Oaks has carefully structured its model over the years to minimize costs and maximize returns on the assets it owns for its partners.
Such refinements include:

-- limiting partner risk by starting to build only after 50 percent of the

building is pre-leased;

-- requiring a minimum of five parking spaces for every 1,000 square feet

of building;

-- focusing on properties without restrictions or other limiting covenants

that would prevent the provision of ancillary services by tenants

-- multi-tiered exit strategies;

-- nesting of complimentary professions to create synergy, increased

patient flow; and

-- designing buildings and practice combinations that enhance patient

care.

About Oaks Development Group

Oaks Development Group, http://www.oaksdevelopment.net, is a private equity funded real estate investment group specializing in the acquisition, construction, conversion, restructuring and management of medical/professional properties to achieve a consistent long term and stable return for private investments. The Oaks model involves strategically sharing equity in transactions with individual tenants. Oaks Development Group is headquartered in Cary, North Carolina, with offices in Boston; Chicago; Austin, TX; San Antonio, TX; Savannah, GA; Tampa, FL; and Wilmington, NC. Please call 1-866-780-5095 or visit http://www.oaksdevelopment.net for more information.


'/>"/>
SOURCE Oaks Development Group
Copyright©2008 PR Newswire.
All rights reserved

Related medicine news :

1. Isolation of a new gene family essential for early development
2. Therap Services Continues to Hire Experienced Developmental Disability Industry Clinicians for its Customer Support Team
3. The Philadelphia Walk Now for Autism Expected to Draw 10,000 Walkers and Raise $1 Million to Help Find Answers About the Nations Fastest-Growing Developmental Disorder
4. Ovation further advances development pipeline with new phase III epilepsy study
5. Pioneer Surgical Technology Hires Vice President of New Business Development
6. Bridgetech Announces Addition of the Agency for Healthcare Research and Quality as Content Provider in its Development of a Healthcare Web Portal in China
7. Bioniche Receives $2 Million Government Grant For Market Development Related to its E. coli O157:H7 Cattle Vaccine
8. DTI Medical Corporation Announces Reverse Split and Other Corporate Developments
9. Optim To Assist Prairie Community Health Center with Construction Scope Development
10. Nick Childs Joins Grey New York as Director of Content Development
11. New clues to breast cancer development in high-risk women
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:1/20/2017)... Texas (PRWEB) , ... January 20, 2017 , ... Yisrayl Hawkins, Pastor and Overseer at ... the bible in homes across the world. Yisrayl says this generation is a time like ... is to turn to the Bible. , Yisrayl says he does not want to sound ...
(Date:1/20/2017)... ... January 20, 2017 , ... ... enhance people’s everyday lives, recently attended the January ECRM Trade Show in Hilton ... is known for its large range of supplements that keep the body functioning ...
(Date:1/20/2017)... ... ... Magdalene: Grace is Greater than Sin”: a unique and memorable piece of literature ... Grace is Greater than Sin” is the creation of published author, Brenda Roberts, a ... had little knowledge of the female characters portrayed in the Holy Bible. , ...
(Date:1/20/2017)... ... January 20, 2017 , ... “Christmas in Suffolk”: a story ... Sara Seymour, who lives in Lafayette, Indiana where she works in a daycare and ... and writes. , Published by Christian Faith Publishing, Sara Seymour’s new book is an ...
(Date:1/19/2017)... ... January 20, 2017 , ... Today, the Centers for Medicare ... four of CMS’s Alternative Payment Models (APMs) in 2017. Clinicians who participate in APMs ... are an important part of the Administration’s effort to build a system that delivers ...
Breaking Medicine News(10 mins):
(Date:1/20/2017)... 20, 2017  Palladian Health, a leading provider ... launch of an opioid management program which assists ... and helps stem the growing tide of dependence ... treat chronic non-cancer pain (back pain, neck pain, ... lack of evidence regarding long-term effectiveness. ...
(Date:1/19/2017)... , Jan. 19, 2017 ... Summary GlobalData,s new report, "Germany Cataract Surgery Devices ... the Germany Cataract Surgery Devices market. The report provides ... and average prices (USD) within market segements - Phacoemulsification ... also provides company shares and distribution shares data for ...
(Date:1/19/2017)... Jan. 19, 2017 The U.S. Food and Drug ... Idiopathic Constipation (CIC) in adult patients. "No ... disorders," said Julie Beitz , M.D., director of the ... Drug Evaluation and Research. "With the availability of new therapies, ... for their condition." ...
Breaking Medicine Technology: