Cambridge Healthcare Solutions Pa. LP of Vienna, VA., along with the VA Butler Healthcare team, is celebrating the completion and opening of service of the newest health care center for veterans in the Western Pennsylvania region. The Department of Veterans Affairs accepted the facility on May 24, which was six months ahead of the award schedule. The HCC will open for service on September 5, 2017. Cambridge will remain as asset managers throughout the 20-year lease. “The VA Butler project is intended as a long term hold in our portfolio. Consequently we have matched our investment horizon utilizing a long term bond structure for the debt component of the capital stack,” according to Andrew J. Czekaj, Managing Principal of Cambridge Healthcare Solutions Pa. LP (with our financial partner, Halle Enterprises).
The ribbon cutting ceremony was held on August 29th, 2017 with about 300 in attendance. A blue sky made a beautiful backdrop for the seven flags ringing the entrance to the brick and stone facility. David P. Cord, Director of the VA Butler Healthcare, opened the event, followed by T. Michael Scott, President and Vice Chairman of Cambridge, and Michael Adelman, Network Director of the VA VISN 4. The honorable Mike Kelly, US Representative for the 3rd District of Pennsylvania, gave the keynote address. U.S. Army veteran and former Pittsburgh Steelers halfback Rocky Bleier led a tribute to Abie Abraham, for whom the HCC will be named. Building tours generated excitement among the veterans and an open house was set up for the following week.
The 251,000-gross-square-foot Health Care Center is located on approximately 46 acres of land on Duffy Road. Valued at $110 million, the project represents a major economic investment and a job creator for the Butler, PA area. T. Michael Scott, President and Vice Chairman of Cambridge, stated, “Our approach was to truly partner with our client, the Department of Veterans Affairs, as well as our team members. We conducted five partnering sessions so that all stakeholders could deeply understand the concerns and goals of those designing, constructing, building, and ultimately using the facility. As a result, we have a spectacular product that will be a welcoming experience for our veterans to come for camaraderie, exercise, and to care for their health. This is an experience that the VA and all involved can be very proud of; on budget and ahead of schedule.” Randy S. Jaegle, CEO of Cambridge, stated “We are proud to have successfully opened this facility, our second following the delivery of VA Charlotte, on behalf of our Veterans. We look forward to using our growing knowledge and expertise to win future bids to develop additional facilities for the VA across the country.”
The Health Care Center has been constructed to meet the projected growth of the veteran population in the western Pennsylvania region. The land was purchased in August 2015 and the project was completed on a fast-track schedule. It will provide enhanced out-patient primary care, specialty services, mental health, dental, physical rehabilitation, women’s health, and other departments, augmenting the services offered at the existing VA Butler campus. The new facility will expand the technological capabilities by offering telehealth with several specialty areas.
Cambridge provides real estate services to institutions, investment partnerships and individual owners to comprehensively address the challenges of today’s real estate market. Since 1983, Cambridge and its subsidiaries have successfully developed over 6.8 million square feet and structured the acquisition and/or disposition of in excess of 20.6 million square feet of commercial real estate as well as 512 acres of land with a total value exceeding $6.6 billion. In addition, Cambridge has been instrumental in the restructure of approximately $1.5 billion of CMBS and institutional debt on behalf of clients and partners. The firm also provides property management, leasing and construction management services to approximately 5.38 million square feet of office, R&D and industrial space.
