Project Case Study: Flagship got creative for this MOB
Donating land for housing smoothed the way for the Charlotte, N.C., project By John B. Mugford It’s only natural that in the healthcare real estate (HRE) development industry – and for that matter, probably any real estate development industry – that the biggest, shiniest and perhaps most expensive “trophy” projects garner the most attention. Yet […]
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Feature Story: Time for a new type of partnership?
HRE firms, health systems should share risks and rewards, Revista panel says By John B. Mugford As he listed the numerous financial difficulties facing health systems these days – noting that the costs of running a system have increased 20 percent since 2021 while reimbursements have not nearly maintained that pace – Troy Freeman had […]
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Transactions: Evergreen buys seven Raleigh, N.C., medical assets
Highwoods Properties sold the portfolio for $62.5 million; JLL was the broker By Murray W. Wolf RALEIGH, N.C. – Highwoods Properties Inc. (NYSE: HIW) announced last Thursday, April 4, that it has sold eight Raleigh-area properties – including seven medical buildings – for a total of $79.4 million. The medical outpatient buildings (MOBs), plus one […]
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Transactions: Remedy buys Rochester, N.Y., area MOB for $43 million
Broadstone Net Lease sold the 119,983 s.f. facility in the suburb of Greece, N.Y. By Murray W. Wolf GREECE, N.Y. – An affiliate of Chicago-based Remedy Medical Properties has acquired a four-story, 119,983 square foot MOB in the Rochester, N.Y., suburb of Greece from Broadstone Net Lease (NYSE: BNL) for $43 million. That’s according to […]
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Companies & People: AHR is excited about its prospects
After its IPO, REIT pays down debt, will be selective about acquisitions By John B. Mugford As a result of its recent initial public offering (IPO), Irvine-based American Healthcare REIT (NYSE: AHR), which has been involved in the healthcare real estate (HRE) sector since 2009, was able to significantly reduce its floating rate debt. According […]
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Feature Story: Rising rates, costs catch up with the MOB development market
Revista report shows project starts fell 38.8%; also lists the largest developers of 2023 By John B. Mugford Although 2022 was generally considered to be a tough year for healthcare real estate (HRE) developers – the result of rising construction costs and inflation – the amount of medical outpatient building (MOB) space started or completed […]
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Cover Story: DOC-PEAK merger combines the ‘best’ REIT balance sheets
Top officers Scott Brinker and John Thomas say the deal offers ‘great upside’ By John B. Mugford and Murray W. Wolf The March 1 closing of the merger between Denver-based Healthpeak Properties Inc. and Milwaukee-based Physicians Realty Trust created a healthcare and life sciences real estate investment trust (REIT) valued at nearly $21 billion. Behind […]
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Feature Story: He helped establish the HRE sector
‘Retirement’ is a misnomer for MOB monetization pioneer Todd W. Lillibridge By John B. Mugford Back in 1990, a rather young man who was involved in commercial real estate decided to form a new business focused on a niche asset class that, to that point in time, really did not exist. The rest, as they […]
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Feature Story: ‘An authentic and genuine leader’
HRE Executive of the Year gets high praise from clients, employees and peers By John B. Mugford Chad Henderson has always been an entrepreneur at heart, as he started his first business – selling ice cream to people on their docks or in their boats – as a 16-year-old growing up in Pensacola, Fla. Mr. […]
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Thought Leaders: Newmark foresees a better 2024
Promising Q3 and Q4 data bodes well for the coming year, firm’s report finds By Erin E. Porter Although last year was not the best for the healthcare real estate (HRE) business, the sector’s resiliency and strong fundamentals during the second half of the year portend hope for 2024, according to the recently released “2023 […]
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Feature Story: MOB rental rates have risen steadily
Tenants might not like it, but they recognize that landlords’ costs have increased, Revista panelists say By John B. Mugford By now, nearly everyone involved in healthcare real estate (HRE) knows that both the sales of facilities, namely medical outpatient buildings (MOBs), and new construction have slowed significantly during the past year or more. Yet, […]
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News Release: 2023 HREI Insights Awards Winners announced
FOR IMMEDIATE RELEASE Healthcare Real Estate Insights™ presents awards to the 2023 winners of the only comprehensive national program recognizing excellence in healthcare real estate PASADENA, Calif., Feb. 28, 2024 – Healthcare Real Estate Insights™ magazine has announced the Winners of the 2023 HREI Insights Awards™, the only national awards dedicated to recognizing excellence in […]
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Feature Story: HRE lenders are optimistic
InterFace capital markets panelists discuss the state of lending in the space By John B. Mugford As Richard “Rich” Kelley noted, “No topic has been more discussed in commercial real estate over the past 12 months or longer than the capital markets, with much of the discussion centered on interest rates and the lack of […]
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Life Sciences: Some LSRE fundamentals improved in Q4 2023
Occupancies kept declining, but construction has slowed, RevistaLab data shows By Murray W. Wolf NATIONWIDE – Although occupancy rates in most life sciences real estate (LSRE) markets continued to decline during the fourth quarter (Q4) of 2023, construction activity moderated and space demand remained steady, which bodes well for better market conditions this year. That […]
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Companies & People: Q&A with Robert Milligan of UDLR Healthcare
New firm brings together several former HTA executives and GI Partners By John B. Mugford After being founded as a non-traded real estate investment trust (REIT) initially known as Grubb & Ellis Healthcare REIT in 2006, the same entity became Healthcare Trust of America (HTA) after going public in 2012. During the next decade or […]
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Feature Story: New mantra for HRE? Do more in ‘24
Generally upbeat panelists at InterFace West say they’re seeing more activity By John B. Mugford Since the rapid run-up of interest rates from March 2022 to July 2023 rocked the capital markets and slammed the brakes on commercial real estate investment and development, frustrated healthcare real estate (HRE) professionals have frequently uttered this grim mantra: […]
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Feature Story: Where are America’s HRE hotspots?
Some you might expect, others you might not, RevistaMed data shows By John B. Mugford On Jan. 24, HREI reported on the latest national healthcare real estate (HRE) statistics as compiled and presented by Arnold-based Revista during a webcast for its subscribers to recap the fourth quarter (Q4) and all of 2023. The headline grabber […]
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Feature Story: Tough time to buy, but great time to own MOBs
RevistaMed data: MOB sales reached a low point in 2023; but, occupancies, rents increased By John B. Mugford Perhaps the last year or so has not been a great time to be a prospective buyer of medical office buildings (MOBs), but it certainly has been a good time to be an owner of such facilities. […]
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Feature Story: A modest move toward monetizations
Some providers are becoming a bit more receptive, GlobeSt conference panelists say By Murray W. Wolf Healthcare real estate (HRE) professionals have been exhorting hospital and health system executives to monetize non-core real estate assets for at least as long as Healthcare Real Estate Insights (HREI) has been published – 21-plus years – and probably […]
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Feature Story: Finding development opportunities in a tough market
GlobeSt panelists say they are staying busy despite a challenging environment By John B. Mugford The current healthcare real estate (HRE) development market is a bit of an enigma. The number of medical office building (MOB) projects under construction remained somewhat steady from 2022 and into 2023. Yet the total square footage started nationwide during […]
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News Release: Physician Group Celebrates the Groundbreaking of a 60,000 Square-Foot Medical Office Building in Cypress, Texas
Exponential growth in Cypress drives demand for quality healthcare. The new, three-story, 60,000-square-foot multi-disciplinary medical office building is the first phase of the 30- acre Grand Cypress Medical Pavilions. HOUSTON, TX – April 26, 2024 – Dr. Kim Keller, a prominent General Surgeon in Houston and CEO of North Cypress Land Ventures LLC (NCLV), a […]
Life Sciences: Alexandria sees ‘solid indicators’ of a rebound
REIT’s Q1 occupancy was steady at 94.6% and its project pipeline is 80% pre-leased By Murray W. Wolf PASADENA, Calif. – As perhaps evidence of a nascent recovery in the life sciences real estate (LSRE) sector, Alexandria Real Estate Equities Inc. (NYSE: ARE) reported strong first quarter (Q1) 2024 results Monday, April 22. The Pasadena-based […]
News Release: Lendlease and Extell Top Out 1520 First Avenue in New York
(New York, April 25, 2024) Lendlease, a leading global real estate and investment group, today announced its New York Construction group has topped out 1520 First Avenue, a 30-story medical office building in the Yorkville section of Manhattan’s Upper East Side. Developed by Extell Development Company, the 400,000-square-foot state-of-the-art facility, slated for completion in 2025, will […]
News Release: TCC and Partners Announce Completion of Science Square Phase 1 in Atlanta
PRESS RELEASE Phase 1 includes Science Square Labs, a 370K-SF Life Science Building, and The Grace, a 280-Unit Residential Tower ATLANTA, GA, April 25, 2024 — Trammell Crow Company (TCC), a global real estate developer, and Georgia Advanced Technology Ventures (GATV), an affiliate of the Georgia Institute of Technology, have completed construction on the first […]
News Release: Newmark Closing Announcement
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News Release: PMB and Providence St. Joseph Hospital in Orange Open New ‘Helen Caloggero Women’s and Family Center’
Sprawling New Multi-Million Dollar Facility in Orange County is a One-Stop Location to Access Full-Suite of Women’s Health, Mother-Baby Services and More ORANGE, Calif., April 24, 2024 /PRNewswire/ — PMB, a leading healthcare real estate developer, and Providence St. Joseph Hospital celebrated the grand opening of the ‘Helen Caloggero Women’s and Family Center,’ a four-story, 137,000-square-foot […]
News Releases: Transwestern completes 36,000 SF of medical office leases at Union Park in Atlanta
(APR. 24, 2024 – ATLANTA) – Transwestern Real Estate Services (TRS) announces the completion of 36,000 square feet of medical leases at Union Park, a 178,000-square-foot, four-building outpatient medical campus at 5881-5887 Glenridge Drive NE in Atlanta. Transwestern’s Atlanta Healthcare Advisory Services team, composed of Steve Hall, John V. Lopez and Bo Stuart, provides leasing […]
News Release: Marcus & Millichap Capital Corporation Arranges $23.6 Million Acquisition Financing for Northeastern Florida Medical Facility
FOR IMMEDIATE RELEASE JACKSONVILLE, Fla. April 23, 2024 – Marcus & Millichap Capital Corporation (MMCC), a leading provider of commercial real estate capital markets financing solutions, arranged $23,625,000 in financing for the purchase of Lakeview Health, a single-tenant triple-net leased medical facility in Jacksonville, Florida. Robert Bhat, senior managing director in MMCC’s Miami office secured […]
News Release: XRL/ALC Closes $9.6 MM Bridge Transaction for Florida Rural Hospital
April 22, 2024 01:38 PM Eastern Daylight Time IRVINGTON, N.Y.–(BUSINESS WIRE)–XRL ALC, LLC (XRA), an affiliate of X-Caliber Rural Capital that provides funding solutions for projects located in micro-rural areas, together with American Lending Center, jointly funded a $9.6MM bridge loan for Calhoun-Liberty Hospital located in Blountstown, Florida. The hospital renovation and new construction is […]
News Release: MedProperties Realty Advisors Acquires Recently Completed Rehab Hospital in Colorado
Dallas, Texas, April 21, 2024 – For the second time in less than six months, MedProperties Realty Advisors, LLC has acquired a recently completed rehab hospital occupied by PAM Health. The acquisition of the rehab hospital in Greeley, Colorado follows the acquisition late last year of a similar facility on the West Coast of Florida. “Our recent […]
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