Eastman & Smith Acts as Counsel to Toledo Orthopaedic Surgeons in Acquisition and Development of Wildwood Fitness Center Medical Office Building
Toledo Orthopaedic Surgeons (TOS) announced the execution of a ground lease agreement with Reynolds Road Fitness Center and plans to develop a medical office building of approximately 48,800 square feet. The facility will be constructed upon ProMedica Health System's Wildwood Medical Campus on Reynolds Road in Toledo, Ohio. TOS and its leasing entity, TOSMOB, LLC have secured construction financing arrangements with Fifth Third Bank to finance construction of the new medical office building. TOS will conduct its orthopaedic medical services within the first floor of the new facility while the second floor will be occupied by other medical and administrative offices. The new building is located near ProMedica's other Wildwood facilities including its 36 bed orthopedic hospital, sports-care offices, athletic facility and spa. "The new campus and the medical office building will be a boon for patients," said Dr. Paul Fenton, an orthopaedic surgeon practicing with TOS at the Wildwood Medical Center.
Firm members James W. Millon and Steven D. Reinbolt represented TOS and TOSMOB in the ground lease transaction and bond financing for the new medical facility. Mr. Millon is part of the Firm's Business Section. His practice emphasizes providing service to small and medium size business entities in transactional matters, including purchases and sales, mergers, private placement security offerings, and leasing transactions. A member of the Real Estate Practice Group, Mr. Reinbolt's principal areas of practice include property acquisitions, sales and leasing, public and private real estate financing, land use planning and business law. Mr. Reinbolt can be reached at our Toledo office (419-241-6000).