News Release: CBRE’s U.S. Healthcare Capital Markets Group Expands with Post-Acute Specialist Jecoah Byrnes Joins Nation’s Leading Healthcare Real Estate Investment Team
CBRE’s U.S. Healthcare Capital Markets Group (HCMG) is pleased to announce the addition of Jecoah Byrnes to its national team of specialists. Mr. Byrnes will join national practice leaders Chris Bodnar (Denver) and Lee Asher (Atlanta) with a primary focus on the monetization of post-acute care facilities nationwide. Since 2008, HCMG has been responsible […]
News Release: HCP Declares Quarterly Cash Dividend on Common Stock
LONG BEACH, Calif.–(BUSINESS WIRE)–Apr. 25, 2013– HCP (NYSE:HCP) announced that its Board of Directors declared a quarterly common stock cash dividend of $0.525 per share. The dividend will be paid on May 21, 2013 to stockholders of record as of the close of business on May 6, 2013.
Archives: April 2013
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Transactions: ARC pays $19.2M for three buildings
REIT acquires 69,341 square foot Suburban Atlanta MOB campus from SRS By John B. Mugford New York-based ARC Healthcare Trust Inc. recently landed a three-building outpatient campus in a high-traffic location in Marietta, Ga., in the suburbs north of Atlanta. The complex is known as the Northside East Cobb Medical Campus. It has a total […]
Transactions: CNL said to be close to acquiring $54M portfolio in return to HRE market
ORLANDO, Fla. – Add another new – yet very familiar – name to the list of investors actively seeking MOBs. After selling several of its real estate investment trusts (REITs) during 2006-07, including one that owned healthcare facilities, Orlando-based CNL Financial Group launched a non-traded REIT in 2011 with a focus on acquiring senior housing […]
Outpatient Projects: Suburban Chicago project fills need
Bluestone plans November opening for $18 million MOB near Advocate hospital By John B. Mugford For quite some time, Chicago-based Bluestone Healthcare Partners LLC searched for a site on which to build a new medical office building (MOB) along a high-demand healthcare corridor in Oak Lawn, Ill. The corridor, near the 694-bed Advocate Christ […]
Transactions: New partners buy MOB in SW Ohio
MedProperties Holdings, Equity Inc. acquire asset in Middletown, near Dayton By John B. Mugford A new and perhaps expanding partnership of MedProperties Holdings LLC of Dallas and Equity Inc. of Columbus, Ohio, recently acquired an on-campus, five-story, 103,000 square foot MOB in Middletown, Ohio. The acquired building is the Atrium Medical Center MOB, one of […]
Hot Property: Portfolio spans 5 states, 292,974 s.f.
94.5 percent occupied portfolio is being offered by Montecito, Harrison Street Name: MMIC Medical Office Portfolio II Number of Buildings: Seven Locations: California, Arizona, Kansas, Ohio, and Virginia Size: 292,974 square feet Type of Buildings: Medical Offices and One Surgery Center Asking Price: N/A Hospital Tenancy: 60.3 percent, 51.4 percent of which is investment grade […]
Outpatient Projects: Johnson Development starts new MOB in fast-growing Fla. area
JACKSONVILLE, Fla. – Birmingham, Ala.-based Johnson Development recently started construction on a 60,000 square foot MOB that will be part of the future campus of St. Vincent’s Medical Center Clay County hospital in Jacksonville. According to Johnson Development officials, the MOB should be completed by October and will include space for cardiology, wound care, orthopedics, […]
Outpatient Projects: More Outpatient Projects
■ HSA PrimeCare broke ground in recent weeks for a 15,000 square foot multi-specialty surgery center at 240 Center Dr. in Vernon Hills, Ill., in the northern Chicago suburbs. John Wilson, president of the Chicago-based healthcare real estate arm of HSA Commercial Real Estate, said the future $10 million ambulatory surgery treatment center is 100 […]
Industry Pulse: Sign of maturity: More MOB portfolio sales
Proliferation of portfolio sales indicates maturation of MOB sector Editor’s Note: This is an extended version of an article that appeared in the HREI print magazine In theory, as a real estate sector matures and grows, more and more investors with deep pockets become interested. And when large real estate investment trusts (REITs) and institutions […]
Transactions: Griffin-American REIT II invests $46 million on four separate MOB buys
NEWPORT BEACH, Calif. – Newport Beach-based Griffin-American Healthcare REIT II doesn’t seem to be having much trouble adding to its medical office holdings during what is supposed to be a tight MOB market. In recent weeks, the non-listed healthcare REIT’s co-sponsors, American Healthcare Investors and Griffin Capital Corp., acquired five MOBs for the REIT’s portfolio, […]
Industry Pulse: $500 million for Mayo? Not so fast, state says
There has been a surprising turn of events recently in Minnesota, the home of HREI™. But this story isn’t just a local one, as the subject is the world-renowned Mayo Clinic, an international destination healthcare provider in the same stratosphere as the likes of the Cleveland Clinic, MD Anderson Cancer Center in Houston and Johns […]
Industry Pulse: Now that’s what we call an appetizing retail strategy
We’ve heard plenty about healthcare in retail locations, and a little about retail in healthcare. We’ve also heard a lot about the need to place more emphasis on wellness and being accountable for patients throughout the entire continuum of care. So it was probably only a matter of time until a news item like this […]
Industry Pulse: 7.9%
That’s the national average medical office building (MOB) capitalization rate for all of 2012, according to real estate research firm Real Capital Analytics (RCA) Inc. That includes both on- and off-campus facilities, as well as MOBs of varying quality levels. Of course, it can be dangerous to generalize because a range of factors contribute to […]