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Transactions: Marcus & Millichap brokers $9 million sale of Los Angeles MOB to undisclosed buyer

LOS ANGELES – An unnamed private investor recently acquired a three-story, 42,729 square foot MOB in the Granada Hills neighborhood of Los Angeles for $9 million, or $211 PSF. Representing the seller, Los Angeles-based Jamison Services Inc., was John R. Smelter, a senior director of Marcus & Millichap’s National Healthcare Real Estate Group from the […]

Transactions: San Diego medical office sells for $11.4 million to TDA Investment

SAN DIEGO – TDA Investment Group of San Mateo, Calif., in recent months acquired an MOB located within a complex of three medical buildings across the street from Alvarado Hospital Medical Center in San Diego. The firm closed on Alvarado Medical Plaza III, a three-story, 51,441 square foot MOB, for about $11.4 million, according to […]

The 38,188 square foot Musculoskeletal Center at 4 Centennial Drive in Peabody, Mass., is offered for sale by MANSARD and Coppola Properties Photo courtesy of MANSARD

Hot Property: Interest high in Boston-area MOB

The Musculoskeletal Center in Peabody, Mass., is 93.8 percent occupied Name: The Musculoskeletal Center Address: 4 Centennial Drive City: Peabody, Mass. Number of buildings: 1 Square footage: 38,188 Date completed: 1976 Date redeveloped: 2003 Occupancy: 93.8% Average PSF rent: $23.66/NNN First year NOI: $879,276 Suggested price: $12.295 million Brokerage firms: MANSARD, Coppola Properties PEABODY, Mass. […]

Transactions: Sabra REIT moves into acute-care space with Texas deals

DALLAS  – For the most part, Irvine, Calif.-based Sabra Health Care REIT Inc. (Nasdaq: SBRA) looks to grow its portfolio primarily through the acquisition of senior housing and memory care facilities, with a secondary focus on skilled nursing facilities (SNFs). However, it also continues to search for “opportunistic” acquisitions of other types of healthcare real […]

One of the assets Griffin-American Healthcare REIT II acquired was the three-story, 72,000 square foot 155 Crystal Run MOB in Middletown, N.Y. Griffin-American paid about $57 million, or $375 PSF. Photo courtesy of Raymond James

Transactions: G-A REIT II hits it big in December

Unlisted REIT invests more than $541 million on HRE only a single month By John B. Mugford A year ago, with an increase in capital gains taxes looming for anxious sellers, a flurry of medical office building (MOB) deals closed out 2012 and made it a record-setting year for total sales volume (dollar amount). After […]

Transactions: New publicly traded REIT, Physicians Realty Trust, continues making deals

MILWAUKEE – Physicians Realty Trust (NYSE: DOC), which raised about $123.8 million in an initial public offering (IPO) that closed in July, has made a number of significant acquisitions in recent months. According to new releases as well as data from Real Capital Analytics, the new healthcare REIT has made three separate purchases since September, […]

Transactions: Marcus & Millichap brokers $9 million sale of Los Angeles MOB to undisclosed buyer

LOS ANGELES – An unnamed private investor recently acquired a three-story, 42,729 square foot MOB in the Granada Hills neighborhood of Los Angeles for $9 million, or $211 PSF. Representing the seller, Los Angeles-based Jamison Services Inc., was John R. Smelter, a senior director of Marcus & Millichap’s National Healthcare Real Estate Group from the […]

Transactions: MedSouth Healthcare Properties LLC acquires Myrtle Beach, S.C., MOB

MYRTLE BEACH, S.C. – MedSouth Healthcare Properties LLC, a relatively new company focused on acquiring healthcare properties in the Southeast, recently purchased an MOB in Myrtle Beach in a JV with Sterling Fox Group LLC. Both MedSouth and Sterling Fox Group are based in Charlotte, N.C. The JV acquired Market Commons Medical, a 20,000 square […]

Transactions: New publicly traded REIT, Physicians Realty Trust, continues making deals

MILWAUKEE – Physicians Realty Trust (NYSE: DOC), which raised about $123.8 million in an initial public offering (IPO) that closed in July, has made a number of significant acquisitions in recent months. According to new releases as well as data from Real Capital Analytics, the new healthcare REIT has made three separate purchases since September, […]

Transactions: Sabra REIT moves into acute-care space with Texas deals

DALLAS  – For the most part, Irvine, Calif.-based Sabra Health Care REIT Inc. (Nasdaq: SBRA) looks to grow its portfolio primarily through the acquisition of senior housing and memory care facilities, with a secondary focus on skilled nursing facilities (SNFs). However, it also continues to search for “opportunistic” acquisitions of other types of healthcare real […]

Transactions: San Diego medical office sells for $11.4 million to TDA Investment

SAN DIEGO – TDA Investment Group of San Mateo, Calif., in recent months acquired an MOB located within a complex of three medical buildings across the street from Alvarado Hospital Medical Center in San Diego. The firm closed on Alvarado Medical Plaza III, a three-story, 51,441 square foot MOB, for about $11.4 million, according to […]

After a $138.5 million, four-year construction project, the east campus of Genesis Medical Center in Davenport, Iowa, is expected to look like the above rendering. The project is slated to include 203,000 square feet of new space, plus renovations. Rendering courtesy of Flad Architects

Inpatient Projects: Iowa system readies for big project

Genesis Health to spend $138.5 million on new space and renovations at campus By John B. Mugford One of the largest construction projects in the history of Davenport, Iowa, is also the largest project ever taken on by the area’s major healthcare provider, Genesis Health System. Work is expected to start in June on a […]

Outpatient Projects: NexCore Group starts MOB on new campus outside of Boise, Idaho

NAMPA, Idaho – An MOB under construction in Nampa, about 20 miles outside of Boise, Idaho, is using what the developer calls innovations in architecture and construction sequencing to optimize land utilization, shorten the build time and lower the project cost. The developer is Denver-based NexCore Group LP, which will own and manage the future […]

Outpatient Projects: Iowa system playing ‘catch up’

Replacement campus in Marshalltown will ramp up outpatient services By John B. Mugford Acknowledging that their outdated facilities are geared too much toward providing inpatient services, officials with an Iowa health system have announced plans for a replacement campus that will put a heavier emphasis on outpatient care. Marshalltown Medical & Surgical Center is moving […]

Inpatient Projects: Marin County voters provide slim approval for new replacement

MARIN COUNTY, Calif. – It looks as if, by the slimmest of margins, voters in Marin County have passed a $394 million general obligation bond measure to rebuild the 61-year-old Marin General Hospital in Greenbrae, about 15 miles north of San Francisco. In order to gain approval, the measure needed to garner two-thirds of the […]