Cover Story: 2017’s biggest outpatient HRE developers revealed
With more than 34 million square feet of MOBs and other outpatient projects started or completed in 2017, developers MedCraft, Healthcare Realty Trust, NexCore Group and HTA Development led the way, according to second annual report by Revista and HREI™ By John B. Mugford The year 2017 saw a slight drop in the development of […]
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Outpatient Projects: Five developers vying for $200 million, 250,000 square foot Penn Medicine project at former Wyeth Labs site
RADNOR TOWNSHIP, Pa. — The University of Pennsylvania Health System (Penn Medicine) recently received preliminary land development approval from Radnor Township officials for the development of a new $200 million, 250,000 square foot medical facility and 1,000-vehicle garage along Interstate 476 in this Philadelphia suburb. The property, at 145 King of Prussia Road, is on […]
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Cover Story: The year of the portfolio
A surge in multi-asset transactions led to 2017 MOB sales records in volume, pricing, cap rates and more By John B. Mugford 2017 MOB sales volume set another new record. MOB sales totaled $12.55 billion, according to RCA’s data. That topped the 2016 total of $10.21 billion by 22 percent. It also far surpassed the […]
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Transactions: Heitman lands 1.4 million s.f. on-campus portfolio
The 17 MOBs in the seven-state PHT Portfolio are 96 percent occupied By John B. Mugford CHICAGO – One of the “highest quality, on-campus portfolios ever offered” has changed hands, with Chicago-based Heitman LLC purchasing 17 medical office buildings (MOBs) totaling 1.4 million square feet, according to a Feb. 16 Heitman news release. While the […]
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Transactions: Wisconsin system buys 18 properties it was leasing
Welltower Inc. sells the portfolio for $433 million to Aurora Health Care Prior to the start of 2018, several members of the Editorial Advisory Board (EAB) of Healthcare Real Estate Insights predicted that the sector would see some transactions in which health systems would buy medical office buildings (MOBs) they are leasing from third-party owners. […]
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Outpatient Projects: PMRG, physician partners start work on MOB adjacent to hospital in Irving, Texas
Local news media reports that Houston-based PMRG, along with several physician partners, recently began construction of a three story, 58,000 square foot MOB adjacent to the 296-bed Baylor Scott The full content of this article is only available to paid subscribers. If you are an active subscriber, please log in. To subscribe, please click here: […]
News Release: NexCore Group Again Grows its Design & Construction, Property Management Teams
The national healthcare real estate firm’s rapid growth and expansion continues, requiring the additions of three more seasoned executives: Gina Patrick, Geoff Baldwin and Bruce Jackson Gina Patrick, Geoff Baldwin and Bruce Jackson (from left to right) are the latest additions to NexCore’s rapidly expanding Design & Construction and Property Management teams. […]
News Release: Keith Konkoli Named Head of Outpatient Medical and Real Estate Services
4/17/2018 4:31:00 PM TOLEDO, Ohio, April 17, 2018 /PRNewswire/ — Welltower Inc. (NYSE: WELL) today announced that Keith Konkoli will join the Company as Senior Vice President – Real Estate Services succeeding Mike Noto, who has announced his retirement. Konkoli will lead Welltower’s outpatient medical portfolio that is currently comprised of 17 million square feet in top markets and 95% health system affiliated. Konkoli […]
News Release: Anchor Health Properties Acquires Three Class A Medical Office Buildings with Morgan Stanley
FOR IMMEDIATE RELEASE APRIL 17, 2018 Contact: Rachael Osberger, Anchor Health Properties rosberger@anchorhealthproperties.com; 302-655-1010 ANCHOR HEALTH PROPERTIES ACQUIRES THREE CLASS A EAST COAST MEDICAL OFFICE BUILDINGS WITH MORGAN STANLEY (Charlottesville, VA) Anchor Health Properties has formed a joint venture with a Morgan Stanley Real Estate Investing advised fund for the purpose of acquiring three medical […]
News Release: Avison Young Negotiates Sale of Four-Building 74K SF Medical Office Portfolio in Chicago Suburbs
Avison Young Negotiates Sale of Four-Building Medical Office Portfolio in Chicago Suburbs 74,422 SF Presence Cancer Center portfolio is tied to strong regional hospital systems April 17, 2018 CHICAGO, IL – Avison Young announced today that it has negotiated the sale of a four building, 74,42-square-foot medical office portfolio in Chicago’s suburban market. The JOHA […]
News Release: Montecito Continues to Expand – Hires New AVP of Investments and Underwriting
Montecito Medical Hires New AVP of Investments and Underwriting Gudnyy brings extensive experience in medical office acquisitions and development FOR IMMEDIATE RELEASE April 17, 2018 Nashville, Tenn. — Montecito Medical, the nation’s top privately held acquirer of medical real estate for the last two years, has expanded its executive team with the addition of Rus Gudnyy as […]
News Release: Meridian Purchases Vacant Parcel in Modesto to Build 11,250 SF Medical Out-Patient Clinic; This transaction marks Meridian’s 10th acquisition in 24 months
This transaction marks Meridian’s 10th acquisition in 24 months. Meridian, a full-service real estate developer and owner of medical real estate, is pleased to announce the purchase of 1328 Coffee Road in Modesto, California, marking its second acquisition of 2018, and 10th acquisition in 24 months. The site consists of a vacant 39,204-square-foot parcel where Meridian will […]
News Release: Just Sold | Medical Office Building | Santa Clarita, CA
Canyon Medical Plaza 27141 Hidaway Avenue, Santa Clarita JUST SOLD PROPERTY TYPE MEDICAL OFFICE In-place CAP Rate 2.9% Sold Price $3,250,000 Total GLA 19,396 SF Canyon Medical Plaza is a medical office building totaling ±19,396 square feet, situated on two separate APN’s on approximately 1 Acre (±43,335 Square Feet) of land located in the city […]
News Release: HFF announces sale and financing of Lonza Viral Therapy Facility in Pearland, Texas
HFF announces the sale and acquisition financing of the Lonza Viral Therapy Facility, a, 276,770-square-foot biotechnology facility in Pearland, Texas. The HFF team represented the seller, Pinchal & Co, and procured the buyer, Zeller Realty Group (ZRG). Additionally, HFF worked on behalf of ZRG to secure the fixed-rate acquisition loan through Bank of Texas. Completed […]
News Release: Seniors Housing Occupancy Rate Falls to Six-Year Low of 88.3% in First Quarter
Assisted Living Occupancy Rate Slips to a New Low, While Independent Living Occupancy Rate Remains Above 90% The occupancy rate for seniors housing properties averaged 88.3% in the first quarter of 2018 down 0.5 percentage point from the prior quarter and down 0.9 percentage point from year-earlier levels. This placed occupancy 1.4 percentage points above its […]
News Release: Industry Veteran Shane Seitz Joins CBRE’s Healthcare Capital Markets
CBRE announced the addition of Shane Seitz to its Healthcare Capital Markets team as a Senior Vice President. Based in Denver, Mr. Seitz will join Chris Bodnar and Lee Asher, Vice Chairmen of the company, to focus on debt and equity structuring for its healthcare and life sciences clients. The addition of Mr. Seitz significantly […]
Reduced Price | 39-Unit Senior Living Asset | Springfield, OR | 7.25% Cap | ~12 Year Lease Term
Radiant Senior Living, Sweetbriar Villa, 6135 E St Springfield, Oregon 97478 Cap. Rate: 7.25% Price: $8,100,000 Building SF: 17,738 Lot Size: 2.97 Acres Year Built: 2001 (renovated) Status: Available Notes: ~12-Years Remaining | Absolute NNN Lease Investment Summary Existing Asset class healthcare (senior living) Est. Annual rent $587,378 Capitalization rate 7.25% Purchase price $8,100,000 Est. […]
News Release: Caddis and Invesco Real Estate form JV to acquire core healthcare real estate assets
Invesco’s partnership with Caddis Acquisition Fund I will enable the JV growth of up to $1 billion in assets during the next three to five years DALLAS and ATLANTA, April 11, 2018 – Invesco Real Estate (Invesco), a global real estate investment manager, and Caddis™, a national healthcare real estate firm based in Dallas, have […]
Class-A, 17-Property Medical Office Portfolio Investment Opportunity Across 9 States
Offers Requested By Wednesday, April 25th, 2018 – 5:00 Pm EDT The Offering CBRE’s U.S. Healthcare Capital Markets Group is pleased to exclusively offer the opportunity to acquire The MMRE Portfolio (the “Portfolio” or alternatively, the “Properties”). The Portfolio consists of seventeen (17) medical office buildings located in nine (9) states across the country, including […]
For Sale: Elliott Bay Healthcare Portfolio | 1,020,000 RSF
Elliott Bay Healthcare Portfolio JLL is pleased to offer for sale a premier portfolio of 91 single-tenants, net lease healthcare properties with 1.02 million rentable square feet associated with leading health system and best-in-class dialysis providers. The multi-state portfolio is 100% occupied and backed by 91% investment grade credit tenancy or NYSE public companies with […]