Cover Story: Non-traded healthcare REITs seek deals amid flood of capital
By Murray W. Wolf Probable interest rate increases, new competition, historically high asset pricing and a potential lack of accretive acquisition opportunities are some of the concerns facing executives at the country’s non-traded healthcare real estate investment trusts (REITs). That’s according to “Placing Capital: The Role of Non-traded REITS in the Market,” a panel discussion […]
Feature Story: Southern accent dominates awards
Six HREI Insights AwardsTM top projects were in the South; Berman, Rendina also won There was a distinctly Southern flavor to this year’s HREI™ Insights Awards™. Six of the seven award-winning projects, plus the Lifetime Achievement Award, all went to projects and people from the southern United States.
Winner: HRE Executive of the Year
Mindy Berman is 2014’s top exec Starting from scratch in 2010, she’s helped build JLL’s healthcare R.E. group E ven though Jones Lang LaSalle (NYSE: JLL) has long been a commercial real estate powerhouse throughout the Americas and the rest of the world, up until recent years ago the sporadic services it provided in healthcare […]
Winner: Best New MOB (Less than 25,000 S.F.)
Duke MOB is in ‘enemy territory’ Developer Davis Moore leads Duke Medicine project near UNC Tarheels campus Facility name: Duke Medicine at Meadowmont Address, City, State: 801 West Barbee Chapel Rd. Chapel Hill, N.C. Client (tenant): Duke Medicine Product type: MOB Number of stories: 2 Square footage: 15,000 Site acreage: 2.06 Parking 60 surface spaces […]
Winner: Best New MOB (100,000 S.F. or more)
Clinic improves patient experience Duke Realty-developed VA facility to be used as a model for other clinics Facility name: James A. Haley Veterans› Hospital Primary Care Annex Address, City, State: 13515 Lake Terrace Lane, Tampa, Fla. Client: U.S. Department of Veterans Affairs Product type: Medical office building Number of stories: 2 Square footage: 106,000 Site acreage: 19.65 Parking: 797 surface parking spaces Constr. […]
Winner: Best Renovated/Repurposed
Renovated facility keeps rents low Glenwood developed Croasdaile Commons for Duke Medicine Facility name: Croasdaile Commons Address, City, State: 1821 Hillandale Road, Durham, N.C. Client: Duke Medicine Product type: medical office building Number of stories: 1 Square footage: 94,300 Site acreage: 9 Parking: Approximately 470 surface parking spaces Construction start date: January 2013 Construction complete date: November 2013 Cost: About $24 million […]
Winner: Lifetime Achievement Award
Rendina lauded as industry leader Founder and CEO of namesake firm was known for developing creative solutions During his 30-plus years in the healthcare real estate industry, Bruce A. Rendina was well known for his extraordinary contributions to the sector and for coming up with creative and innovate solutions when challenges arose. So it probably […]
Winner: Best New MOB (50,000 to 99,999 S.F.)
Challenges become solutions Pacific Medical Buildings turns the table on dissatisfaction with MOB Facility name: Los Alamitos Medical Plaza Address, City, State: 3751 Katella Ave., Los Alamitos, Calif. Client: Los Alamitos Medical Center Product type: MOB and parking garage Number of stories: 3 Square footage: 70,000 Site acreage: 2 Parking: Structured, 1,077 spaces Construction start […]
Winner: Best New MOB (25,000-49,999 S.F.)
Angel Cancer Center rises up Keith Corp. helps a key client bring a much needed cancer center to underserved Facility name: Angel Cancer Center Address, City, State: 834 Depot St, Franklin, N.C. Client: Angel Medical Center Product type: MOB – Cancer Center Number of stories: 3 Square footage: 25,461 Site acreage: 1.34 Parking: 125 surface […]
Winner: Best Inpatient Facility
Baptist hospital meets growing need Duke Realty-developed rehab facility a cost-effective, collaborative solution Facility name: Baptist Memorial Rehabilitation Hospital Address, City, State: 1240 Germantown Road, Germantown, Tenn. Client: Baptist Memorial Health Care Corp. and Centerre Healthcare Corp. Product type: 49-bed rehab hospital Number of stories: 2 Square footage: 53,293 Site acreage: 6.16 Parking: 123 parking spaces Construction start date: October 2013 Constr. complete date: September […]
Winner: Best Post-Acute/Senior Living
Prevarian project hits the beach Developer seizes opportunity for senior community in desirable Florida location Facility name: Beach House Assisted Living and Memory Care Address, City, State: 1315 2nd Ave., N., Jacksonville Beach, Fla. Client: PSL JAX Beach House, LP Product type: Senior Living Facility Number of stories: 3 Square footage: 70,962 Site acreage: 1.51 […]
Transactions: Harrison St. lands big Chicago deal
Equity investor pays $63.2 million for leasehold interest in building at Rush By John B. Mugford Harrison Street Real Estate Capital continues to find success in raising equity, as it recently topped the $1 billion mark for its fifth investment fund. It’s not doing too badly in placing that equity, either, focusing on investing in […]
Transactions: JV of Plaza Cos., USAA sells large, on-campus MOB in Phoenix for $28.3 million
PHOENIX — A joint venture of Peoria, Ariz.-based Plaza Cos. and San Antonio-based USAA Real Estate Co. recently sold what is being called a “signature” medical office building (MOB) in Phoenix for $28.3 million. The buyer of the five-story, 104,000 square foot Paradise Valley Medical Plaza is New York-based American Realty Capital (ARC) Healthcare Trust […]
Transactions: New player pays $19.9M for portfolio in Mid-Cities area of Dallas-Ft. Worth metro
ARLINGTON, Texas – A relatively new player in the MOB sector, one that acquires a variety of commercial real properties for 1031 exchange investors, is making some headway into the healthcare arena. This new player, Richmond, Va.-based Capital Square Realty Advisors LLC, led by founder and well-known commercial real estate attorney Louis J. Rogers, recently […]
Hot Property: Surgery center is in growing Abilene
Economy, demographics are strong in West Central Texas city and facility Name: Abilene Doctors Hospital and Surgical Center Number of buildings: 1 Floors: 1 Lot size: 10 acres Address: 5602 Health Center Blvd. City: Abilene, Texas Square footage: 40,633 Leased: 0% Year completed: 2005 Broker: Beth Young Brokerage: Colliers International, Houston
