Read original release on Crain’s Cleveland Business

Signet Development of Akron today, Dec. 16, broke ground on a 44,000-square-foot project in Jackson Township that will serve as the future headquarters of Spectrum Orthopaedics, an independent medical practice with 12 surgeons and more than 100 employees.

The two-story building, which will be located at the intersection of Frank Avenue and Applegrove Street, will include medical offices, an MRI suite, a physical therapy suite and an ambulatory surgery center. The new building will allow Spectrum to consolidate its four existing offices into one location.

The project is scheduled for completion in late 2014.

“This is an exciting day for Signet Development, and we couldn’t be more honored to work with a partner like Spectrum,” said Anthony S. Manna, chairman of Signet Development, in a news release. “This project will enable Spectrum to continue to provide high-quality, patient-focused orthopedic services in a state-of-the-art facility, and reflects Spectrum’s ongoing commitment to providing the best possible care to their patients.”

Signet Development said it worked closely with Signet Equity Partners and Signet Capital to provide financing for the project. The cost for the project was not disclosed. “The process of privately funding a development like the Spectrum headquarters requires coordination with bank funding advisors like Signet Capital and being able to communicate with high net worth individuals and family offices who typically are interested in such projects,” said Ed Matuszak, president of Signet Equity Partners, in the release.