WESTERLY – The Washington Trust Co. recently led a $75.6 million construction-to-permanent financing package for a new orthopedic ambulatory surgery center and medical office building in Waltham, Mass., the bank announced.
The financing supported the development of the 79,500-square-foot facility at 71 Border Road, which opened in June and is billed as the largest orthopedic ambulatory surgery center and medical practice building in the Greater Boston area.
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The approximately $105 million project is a joint venture involving Boston Bone & Joint Institute, Boston Out-Patient Surgical Suites, Boston Orthopaedic & Spine and Pro-Sports Physical Therapy.
More than 30 providers affiliated with Beth Israel Lahey Health will offer outpatient orthopedic surgery, joint replacement, spine procedures and sports medicine at the facility.
The building includes eight operating rooms, 28 recovery bays, two floors of medical offices, a physical therapy center, laboratory, sterile processing unit and a 331-space parking garage.
“This project reflects Washington Trust’s commitment to financing high-quality healthcare and ambulatory surgery infrastructure that supports both patient outcomes and the long-term success of regional medical providers,” said Joseph Confessore, senior vice president and managing director of commercial and private banking.
The project is expected to expand outpatient orthopedic capacity in the Greater Boston region while helping reduce pressure on hospital systems by shifting appropriate procedures to an ambulatory surgery setting.
Matthew McNulty is a PBN staff writer. He can be reached at McNulty@PBN.com or on X at @MattMcNultyNYC.
