Tenants of the Summit Healthplex and Summit Wellness Center have a new landlord.
Calamar, the developer and owner of the buildings on Williams Road in Wheatfield, sold the medical and health care facilities to the Ohio-based investment firm Health Care REIT, Inc. The terms of the sale were not released.
“The driving force behind the sale was to continue with our growth strategy,” said Calamar President Kenneth M. Franasiak, who indicated that the sale was in the works for about a year. “As the economy continues to slow down and we grow geographically, this transaction will assist us in our growth strategy.”
Franasiak said that he could not comment on what Health Care REIT’s plans were for the facilities.
“To have a publicly traded organization like Health Care REIT come into Western New York to invest in our community is a huge victory for our region,” Franasiak said. “We have been focused on building a medical corridor in the Town of Wheatfield. It was our goal and we are very pleased with how that area has developed.”
The Summit Healthplex houses Niagara Falls Memorial Medical Center’s physical therapy and sports medicine departments along with a large outpatient diagnostic center with MRI and X-ray services.
“It is a very busy center for us,” said Pat Bradley, spokesman for the hospital. “But to my knowledge, (the sale) won’t have any impact on us. We expect to be there for a long, long time.”
Bradley said that the hospital expects to have the same “cordial relationship” with the new owners as it did with Calamar.
The Summit Wellness Center is a 42,000-square-foot, state-of-the-art facility directly attached via a covered walkway with the existing 53,000-square-foot Summit Healthplex, which also houses nearly 20 specialty physicians.
The Summit Wellness Center is home to Summit Fitness, a full-service health facility featuring over 120 pieces of cardiovascular and resistance machines, group fitness classes and certified personal trainers.
Other services include cardiac rehab, physical therapy rehab, educational programs, nutritional counseling, massage therapy, pre- and post-natal programs, skin fitness and a heated pool.
Health Care REIT is headquartered in Toledo, Ohio. The company is a self-administered real estate investment trust that specializes in senior housing and health care real estate including hospitals, medical office buildings, assisted living facilities, skilled nursing facilities and independent and assisted living centers. In 2006, the company had more than 550 properties in 37 states.
Representatives from Health Care REIT were unable to be reached for comment.
Local News
WHEATFIELD: Calamar sells Summit Healthplex, wellness center
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