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February 2014 PDF

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Archives: February 2014

Archives: February 2014

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The 45,277 square foot Marin Cancer Institute in Greenbrae, Calif., recently hit the market. It is 100 percent leased by the county’s only acute care hospital.
Photo courtesy CBRE

Hot Property: Cancer Institute Hits the Market

Hospital campus facility is in California’s ‘wealthiest’ county, Marin Name: Marin Cancer Institute Address: 1350 South Eliseo Dr. City: Greenbrae, Calif. Number of buildings: 1 Square feet: 45,277 Occupancy: 100% Tenant: Marin General Hospital Lease expiration: 2028 Brokers: Lee Asher, Chris Bodnar, Seth A. McKinnon Brokerage firm: CBRE GRENBRAE, Calif. – In November, residents in […]

Cover Story: A look ahead

Cover Story: A look ahead

Some of the HRE sector’s leading professionals weigh in on the year to come By John B. Mugford The first part of 2014 brings with it myriad questions regarding the nation’s healthcare industry. Subsequently, that also means that questions abound concerning healthcare real estate (HRE), even though our unscientific poll finds that most professionals involved […]

Cover Story: Development: More activity, but who will own the MOBs?

By John B. Mugford The number of newly developed MOBs has held steady in recent years, with about 7 million to 8 million square feet completed in 2012 and 2103, according to a number of sources. But even though most HRE professionals do not believe that the enrollment of newly insured patients under the PPACA […]

Cover Story: MOB sales: What’s next after a record-setting 2013?

By John B. Mugford As most people involved in the sector know by now, 2013 was a record year for medical office building (MOB) sales. Data from Real Capital Analytics Inc., a real estate research firm, indicate that more than $6.5 million worth of MOBs traded hands in 2013, a total that includes only transaction […]

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Transactions: A record-setting year for MOB sales

The MOB sales volume reached new heights last year, exceeding $6.5 billion By John B. Mugford Just when it seemed as if the sales volume of medical office buildings (MOBs) couldn’t go any higher in a single year, along came 2013. Just a year earlier, 2012 became the second-highest year for MOB sales of all […]

CNL Healthcare Properties recently paid $31 million for MedArts in the Springs, a two-building, medical office building (MOB) complex in Coral Springs, Fla. The unlisted REIT also recently acquired two Chula Vista, Calif., MOBs for about $29 million. (Photo courtesy of CNL Healthcare Properties)

Transactions: CNL Healthcare pays $60 million for MOBs

Unlisted REIT acquires two medical office buildings in Florida and two in California By John B. Mugford CNL Healthcare Properties, an unlisted real estate investment trust (REIT) sponsored by Orlando, Fla.-based CNL Financial Group LLC,  continues to make headway in the HRE sector. In recent weeks, the REIT closed on the acquisition of two medical […]

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: Ill.-based MedProperties Group looks west, to Arizona, for latest MOB acquisition

GILBERT, Ariz. – Northbrook, Ill.-based MedProperties Group (not to be confused with the unaffiliated, Dallas-based MedProperties Holdings) has ventured west for its latest MOB acquisition, acquiring Mercy Medical Commons in Gilbert, part of what the company calls the “rapidly growing” East Valley region of Greater Phoenix. According to MedProperties Group’s website, the Gilbert building is […]

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: TDA Investment Group buys 51,441 s.f. on-campus MOB in San Diego for $11.4 million

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 […]

Transactions: More HRE Transactions

MedSouth Healthcare Properties LLC, a relatively new company focused on acquiring healthcare properties in the Southeast, recently purchased an MOB in Myrtle Beach, S.C., 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 foot, two-story building […]

Outpatient Projects: Adult ED remodel project at New York Presbyterian gets a big donation and a name

NEW YORK – Without a $15 million gift from Morgan Stanley (NYSE: MS), a project to expand and upgrade the adult ED at New York Presbyterian/Columbia University Medical Center would not be taking place, according to health system officials. As a result of the donation, the newly rebuilt ED will be called Morgan Stanley Adult […]

The $10 million, 32,500 square foot Southside Regional Medical Arts Pavilion in Petersburg, Va., is one of two new medical office buildings (MOBs) that were recently opened by Rendina Cos. The other was a $16 million facility in Virginia. 
Photo courtesy of Rendina Cos.

Outpatient Projects: Rendina Cos. completes two MOBs

South Carolina and Virginia projects total $26 million and 92,500 square feet By Murray W. Wolf Jupiter, Fla.-based Rendina Cos. recently completed the development of new medical office buildings (MOBs) in South Carolina and Virginia – projects totaling $26 million and 92,500 square feet. A grand opening was held Jan. 14 for the Bluffton Medical […]