By HCO Staff
SANTA FE, N.M.—Meridian, a full-service real estate owner, operator, and developer of healthcare and life science real estate, has announced that the firm has closed escrow on the purchase of an 18-acre parcel of vacant land in Santa Fe, with the intent to develop a 95,000-square-foot, multi-specialty medical office building and comprehensive cancer care center. Construction commenced at the end of March 2023, with completion slated for July 2024.
The land is located at 4200 Beckner Road, in close proximity to Presbyterian Santa Fe Medical Center in the Las Soleras Master Plan district.
“This is Meridian’s first project in Santa Fe, and we are very excited about this site and the opportunity,” said Meridian Chief Executive Officer, Mike Conn. “Northern New Mexico is a growing demographic, and we identified a need for affordable, outpatient healthcare services in Santa Fe. Meridian’s mission is to provide greater access to care at a more affordable cost, and we look forward to building this facility for the community of Santa Fe. The City of Santa Fe has been fantastic to work with and has helped us navigate the entitlements and permitting process to make this project successful. They have been first-class at all levels of land use, permitting, and engineering. In addition, our trusted partners include Skiles Group as the general contractor, Page Southerland Page, Inc. architects, Tierra West civil engineers and surveyors, and Orion Enterprises as our entitlement consultant.”
“The project will consist of a 95,000-square-foot, three-story building with approximately 520 parking stalls. The overall investment in this site exceeds $100 million and will bring significant jobs and tax revenue to the City of Santa Fe. The façade will include a multi-color scheme, with decorative main entry towers, a sky bridge, one linear accelerator vault with room for future expansion, and a prefabricated paneling system to create depth and articulation to the building elevations. The interior of the building will house up to 50 infusion bays, a lab, and advanced imaging with interventional radiology. The outpatient facility is planned to include primary care, general surgery, cardiology, pulmonary, medical oncology, infusion, radiation oncology, imaging, lab, pharmacy, breast surgery, orthopedics, physical therapy, urology, gastroenterology, neurology, rheumatology, neurosurgery, and gynecologic oncology,” said Conn.
Conn added, “Meridian has partnered with a phenomenal medical group, Nexus Health, to make this project happen. Dr. Scott Herbert was a pleasure to work with and an excellent partner through a complicated and challenging transaction that involved a double escrow and sensitive interactions with local hospital systems.” A public REIT provided the majority of capital along with substantial physician investment to aid with the recruitment and retention of doctors.”
“We are so pleased to bring this incredible facility to the community of Santa Fe,” said Dr. Scott Herbert, Practice President, Nexus Health. “Nexus Health is establishing itself as the outpatient center of choice for this community. We pride ourselves on providing quick access to care and an alternative to the traditional corporate hospital model for care delivery. Why go to a hospital for care unless you have to?”
Dr. Herbert continues, “The Nexus Health facility on Beckner Road is scheduled to open in July 2024, and we look forward to serving Northern New Mexico. It truly took a team approach to get this project over the line. I want to thank the City of Santa Fe, all our joint venture partners, all of the participating providers and staff, and Meridian for bringing our vision for this tremendous facility to fruition. We hope this will be model for future multi-specialty healthcare facilities for years to come.”
There will be a groundbreaking ceremony in early May, in which the community will be invited to participate. Nexus Health, Meridian, and various city officials will be in attendance to talk about the project and what it means for the City of Santa Fe, Northern New Mexico and the surrounding Las Solares master plan.
Meridian is still actively looking to partner with healthcare providers and large physician groups for more real estate opportunities throughout California, the Pacific Northwest, Mountain States, the Southwest and Texas.