SOURCE: OGA

OGA

April 30, 2014 11:30 ET

OGA Sets a Fast Pace in 2014 With Six New Projects in Five States

Healthcare Real Estate Developer Starts Year With Projects Spanning From California to North Carolina After Closing 2013 With Dispositions and Acquisition

NASHVILLE, TN--(Marketwired - Apr 30, 2014) - Healthcare real estate developer OGA is off to a fast start in 2014 as six new projects spanning five states get underway. The news of the new outpatient developments comes after the Nashville-based developer closed out 2013 by selling two properties and acquiring another.

"As specialized healthcare providers expand their operations, the demand for freestanding outpatient medical facilities has grown substantially," said Bond Oman, OGA's chief executive officer. "Undoubtedly, this sort of specialized development has become an important part of the healthcare industry, and we are excited to help accommodate this national trend."

In February, OGA broke ground on two outpatient projects. The first is a ground up, 7,887 square-foot facility in Edenton, N.C., a coastal Carolina community on the inner banks of the Albemarle Sound. The second facility is a ground up 6,460 square-foot building in the Cincinnati suburb of Mount Healthy, Ohio. Both are designed to serve specialized healthcare operators.

Four additional projects are slated to get underway over the next several weeks. In May, OGA will begin work on a 12,500 square-foot retrofit project in San Diego, Calif., converting a former industrial building into a renal dialysis facility. Construction will also begin in May for a 9,648 square-foot facility in Elizabethtown, Ky. In June, OGA will begin work retrofitting a 9,952 square-foot facility in West Hamilton, Ohio near Cincinnati. In August the company will break ground on a new 6,500 square-foot, ground-up project in Ozark, AL. All of the outpatient facilities will be occupied by specialized healthcare operators.

The new projects for 2014 builds on momentum generated from the disposition of two OGA properties and an acquisition of another. In December, the company sold two net lease facilities to Broadstone Net Lease Acquisitions, a New York-based private REIT -- a 14,819 square-foot freestanding medical facility in Richmond, Virginia, and a 7,767 square-foot freestanding medical facility in Montgomery, Alabama. OGA also acquired a 6,000 square-foot freestanding medical facility in Kenner, Louisiana.

OGA develops and manages a wide range of healthcare and other commercial properties nationwide. The company's more than 250 completed projects span the country and include cancer centers, medical office buildings, urgent care facilities, orthopaedic offices, pharmaceutical compounding and infusion suites and behavioral health facilities.

About OGA
OGA is a real estate services and development company based in Nashville, Tennessee. For additional information, visit www.oman-gibson.com

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