Mainebiz

V O L . X X I N O. V I I I A P R I L 2 0 , 2 0 1 5 12 B U S I N E S S M A I N E B U S I N E S S M A I N E B U S I N E S S N E W S F RO M A RO U N D T H E S TAT E Belfast shipyard expansion would new create jobs Front Street Shipyard is teaming up with the city of Belfast to apply for a Community Development Block Grant that would help the shipyard expand and hire more workers. If awarded, the grant would help Front Street Shipyard purchase utility vehi- cles and equipment for the shipyard's soon-to-be-constructed Building 6, according to a joint announcement between the shipyard and the city of Belfast. e 22,000-square-foot, fi ve-story building would expand the shipyard's capacity for large vessels — allowing for vessels up to 150 feet long — and would support 10 new full-time positions. e grant would cover half of the $532,660 in estimated total project costs, according to the city of Belfast. e other half would be covered by Front Street Shipyard's cash fl ows and lines of credit. As part of the grant application, the shipyard is committing itself to create those 10 new positions, at least six of which would employ individuals from low- income households. N O T E W O R T H Y M I D C O A S T & D O W N E A S T The Next Generation Foundation in Blue Hill awarded the Sunrise County Economic Council in Machias with your business banking team Left to right: Faye Allen, Steve Gurin, Greg Dalton, Wendy Luce, Adam Robertson, Tim Tunney, Sam McGee, Jim Lacasse, Chris Perry, Todd Starbird, Scott Shields, Leita Zeugner and Vicki Hall. www.bhbt.com • 888-853-7100 Local decisions, flexible solutions and personalized service, the way banking should be… since 1887. www.bhbt.com/business/business-loans Seattle real estate group buys buildings housing dialysis centers A Seattle-based real estate group has purchased offi ce buildings in Augusta and Auburn that contain kidney dialysis centers that are run by a German health care company. The purchases were part of the group's strategy to invest in facili- ties for dialysis and other health care. Areteaus Realty Trust purchased 9 Industry Ave., Auburn, for $2.7 million and 164 Civic Center Drive, Augusta, for $1.5 million. Tony McDonald of CBRE|The Boulos Co. and Andrew Whipple of Jones Lang Lasalle brokered the deals, which both closed on March 31. The Auburn and Augusta buildings were sold by Greenwing LLC and Anatinae LLC, respectively. Both buildings contain dialysis centers owned by the North American branch of Fresenius, a health care company based in Bad Homburg, Germany. The company reported $10.5 billion in North American sales for fi scal year 2014. Chris Aggerholm, a partner with Areteaus, told Mainebiz in a phone interview that his realty group focuses on acquiring, developing, owning and managing mission-critical health care facilties across the country, with a focus on kidney dialysis centers. "It's a growing sector of the medical fi eld, and we feel it has a long-term horizon," he said. Aggerholm declined to disclose how many properties the group owns, but said in more general terms that Areteaus owns "many" properties across the country and has several under construction. He did say, however, that the Auburn and Augusta buildings are the fi rst two properties the group has purchased in Maine and in New England. According to the group's website, Areteaus "has been involved with the con- struction, tenant build out and operations of 100-plus dialysis clinics and other health care real estate projects across the country." The website also said the group's principals each have 20-plus years of investment and real estate expe- rience representing over $2 billion in transaction value. Areteaus plans to own the buildings long term, Aggerholm said, and there are no plans to make any changes to the buildings. He said the tenants' occu- pancy and credit were two of the major considerations when the group decided to buy the buildings. Federal statistics for kidney failure indicate a growing need for treatment. Between 1980 and 2009, the prevalent rate for total and permanent kidney fail- ure in the United States increased nearly 600%, from 290 to 1,738 cases per million, according to the National Institutes of Health. — D Y L A N M A R T I N P H O T O S / C O U R T E S Y O F C B R E | T H E BO U L O S C O. 9 Industry Ave., Auburn 164 Civic Center Drive, Augusta

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