Outpatient Projects: More Outpatient News
■ A 40,000 square foot facility is underway along Highway 280 in Birmingham, Ala., for MedHelp Clinics, a 33-year-old family medicine and urgent care practice that currently has three locations in the area. The new facility, scheduled to open in spring 2015, will replace another MedHelp clinic nearby. The development team includes local firms; Brasfield […]
Inpatient Projects: Kaiser opens new flagship hospital
New $1.3 billion Oakland Medical Center replaces system’s original facility By John B. Mugford For more than 70 years, the Kaiser Permanente healthcare system and insurance provider has been delivering care at its longtime flagship hospital at Broadway and MacArthur Boulevard, just blocks outside of downtown Oakland, Calif. Even though the old Oakland Medical Center […]
Inpatient Projects: Hospital plans $300M replacement
St. Elizabeth’s to relocate to 114-acre campus in O’Fallon, Ill., east of St. Louis By John B. Mugford After 60 years of operating a hospital in the heart of Belleville, Ill., just outside of St. Louis, officials with St. Elizabeth’s Hospital and Hospital Sisters Health System recently announced plans for a replacement facility they say […]
Inpatient Projects: Baptist enters new turf in Arkansas, breaking ground on $130M hospital
CONWAY, Ark. – Even though officials with the only existing hospital in Conway contend that there is no need for more inpatient beds in the city, Little Rock, Ark.-based Baptist Health recently broke ground for a new acute care facility on the outskirts of town. Baptist Health officials were joined by Arkansas Gov. Mike Beebe, […]
Inpatient Projects: Ovieda, Fla., to get its first hospital, which is to be built at site of FED
OVIEDO, Fla. – A fairly common strategy being employed by health systems looking to enter new markets involves developing new freestanding emergency departments (FEDs) in anticipation of someday building new hospitals at the same sites. Central Florida Regional Hospital in Sanford, Fla., which is part of Nashville, Tenn.-based HCA Holdings Inc. (NYSE: HCA), is using […]
Inpatient Projects: Hospital in Dubuque, Iowa, to get $42 million, three-story inpatient expansion
DUBUQUE, Iowa – Officials with UnityPoint Health–Finley Hospital recently announced plans for an expansion designed to consolidate and enhance the hospital’s heart care, surgery and emergency capabilities. The proposed 70,000 square foot, three-story expansion would be constructed on the northwest side of the hospital, near Grandview Avenue in the heart of Dubuque, a city that […]
Inpatient Projects: Bend, Ore., hospital to start $22 million renovation of 5-story tower in the fall
BEND, Ore. – St. Charles Health System officials recently announced that they expect to start a $22 million renovation at St. Charles Bend this fall, remodeling most of the hospital’s five-story patient and nursing areas. Funding for the project would come from $75 million in bond sales that the hospital secured earlier this year in […]
Post-Acute & Senior Living: New CCRC gets $140M in financing
State-backed bond sale might spur more not-for-profit CCRCs in California By Murray W. Wolf It isn’t easy to develop a continuing care retirement community (CCRC) in California. Land and construction costs are above the national average, the project approval process is notoriously difficult, and senior living facilities are highly regulated in the state. CCRC development […]
Post-Acute & Senior Living: Newcastle Investment completes acquisition of $186 million portfolio
NEW YORK – Newcastle Investment Corp. (NYSE: NCT) announced June 30 that it has completed the acquisition of six senior housing communities for $186 million, not including transaction costs. The rental CCRCs, all located in Texas, total 1,265 beds.
Post-Acute & Senior Living: Philadelphia Archdiocese agrees to sell senior living communities for $145 million
PHILADELPHIA – The Roman Catholic Archdiocese of Philadelphia announced June 30 that it has agreed to sell seven senior living communities to a for-profit management group for $145 million. The properties are located in Philadelphia, as well as Chester, Delaware and Montgomery counties of Pennsylvania.
Post-Acute & Senior Living: Chartwell Retirement agrees to sell ‘non-core’ senior portfolio for $136 million
MISSISSAUGA, Ontario – Chartwell Retirement Residences announced June 18 that it agreed sell four “non-core” senior living communities totaling 827 suites for $136.1 million. The assets are in Alabama, Michigan, Oklahoma and Tennessee, and the buyer is a joint venture between Focus Healthcare Partners and Garrison Street Partners.
Post-Acute & Senior Living: Q2 assisted living growth rate of 3.1 percent was fastest since at least 2007
ANNAPOLIS, Md. – New construction of assisted living facilities during Q2 grew at the fastest rate recorded since analysts started keeping track seven years ago. The inventory of assisted living facilities grew by 3.1 percent last quarter, according to a July 11 news release from the National Investment Center for the Seniors Housing & Care […]
Post-Acute & Senior Living: More Post-Acute and Senior Living News
■ Fourteen investment funds affiliated with Fortress Investment Group on June 2 sold almost 17.6 million shares of Brookdale Senior Living (NYSE: BKD) stock, according to a recent U.S. Securities and Exchange Commission (SEC) filing. New York-based Fortress, a major shareholder since Brentwood, Tenn.-based Brookdale’s initial public offering (IPO) in late 2005, sold at an […]
Industry Pulse: On The Record: Paul N. Orloff MD
Do independent physicians matter in healthcare real estate anymore? “Why am I so important as a solo practitioner? In a lot of senses I think I’m living in Manhattan in one of the last lands of the dinosaurs. Indeed, maybe I am a dinosaur. But what I think is we’re going to survive for a […]
Industry Pulse: Northstar is Likely Buyer of G-A HC REIT
Potential $4 billion transaction is expected to close by Q4 Just before press time, Healthcare Real Estate Insights™ learned that NorthStar Realty Finance Corp. (NYSE: NRF), whose healthcare activities are led by James F. “Jay” Flaherty, the former CEO of HCP Inc. (NYSE: HCP), plans to acquire Irving, Calif.-based Griffin-American Healthcare REIT II, an unlisted […]
