2016 HREI Insights Awards: Tim Oliver has been a HRE innovator
His legacy includes having a hand in 90-plus facilities in the past 40-plus years By Murray W. Wolf We at Healthcare Real Estate Insights™ probably first met Tim Oliver back in late 2004 or early 2005. At that time, a new healthcare real estate (HRE) company he had joined, NexCore Group, was barely one year […]
2016 HREI Insights Awards Winner: Best New MOB (50,000-99,999 S.F.)
Philly area MOB beats expectations Anchor Health Properties, Seavest Healthcare Properties develop winning ACC Facility name: Penn Medicine Southern Chester County Address, City, State: 455 Woodview Road, West Grove, PA Client (owner or tenant): Penn Medicine Chester County Hospital Product type: Ambulatory care center Number of stories: Two Square footage: 72,000 Site acreage: 45 Parking: 457 surface spaces Construction start date: April 2014 Construction […]
Transactions: Connecticut MOB saw high demand Physicians Realty Trust acquires outpatient cancer care facility for $30.25 million
Physicians Realty Trust acquires outpatient cancer care facility for $30.25 million By John B. Mugford At 95 percent occupied and sitting on the outpatient campus of a prestigious cancer institute in the Northeast, the two-year-old Medical Arts Center at The Hartford HealthCare Cancer Institute in Plainville, Conn., looked to be a lock to attract strong […]
Transactions: Benedict adds to medical portfolio
Most recent $60 million buy brings firm’s total to more than 600,000 square feet By John B. Mugford In an early fourth quarter (Q4) 2016 transaction that seemed to slip under the radar of many publications, New York-based Benedict Realty Group (BRG) closed on purchase of a $60 million, 12-building portfolio comprising mostly medical tenants […]
Transactions: MB Real Estate lands pair of MOBs near Salt Lake City for $12.6M
SALT LAKE CITY – Chicago-based MBRE Healthcare, an affiliate of MB Real Estate, acquired a two-building MOB portfolio in December in Salt Lake City and Ogden, Utah, for $12.6 million, or about $265 PSF, according to RCA.
Transactions: Griffin-American REIT III acquires pair of MOBs in Connecticut for $15.6M
NORWICH, Conn. – Irvine, Calif.-based Griffin-American Healthcare REIT III recently acquired a two-MOB portfolio with a total of 56,265 square feet in Norwich for $15.6 million, or about $277 PSF.
Transactions: Carter Validus REIT II acquires large MOB in Michigan for $43.5 million
GRAND RAPIDS, Mich. – Tampa, Fla.-based Carter Validus Mission Critical REIT II Inc. (CVMC REIT II), non-traded REIT focused on healthcare and data center facilities, recently acquired a four-story, 109,482 square foot MOB in Grand Rapids for $43.5 million, or about $400 PSF, according to data from RCA.
Transactions: Florida investor Triarch pays $21.4M for four-MOB complex north of Miami
PEMBROKE PINES, Fla. – A local real estate investor, Aventura, Fla.-based Triarch Capital, in December 2016 acquired the 91,955 square foot Pembroke Pines Medical outpatient campus for $21.4 million, or about $232 PSF.
Transactions: $35.5M sale in Encino, Calif.
In more news from the healthcare practice with HFF, Los Angeles-based SRG Properties in the fourth quarter (Q4) 2016 acquired Encino Corporate Plaza, a 126,275 square foot MOB, for $35.5 million, or $281 PSF.
Transactions: Carter Validus REIT II pays Welltower $63.6M for rehab facility in Greater Philly
MARLTON, N.J. – In more news from Carter Validus Mission Critical REIT II, the company announced that in December 2016 it acquired the 89,000 square foot Select Medical Rehabilitation Facility in Marlton, N.J., outside of Philadelphia, for about $63.6 million.
Hot Property: San Diego MOB hits the market
Located next Sharp Grossmont, facility provides stability and value-add upside Name: Fletcher Parkway Medical Center Location: La Mesa, Calif. Year built: 1985 Square feet: 82,024 Occupancy: 83 percent Land size: 5.97 acres Parking spaces: 457 Seller: The Abbey Co. Brokerage: HFF Brokers: Evan Kovac, Trent Jemmett and Andrew Milne The area near Sharp Grossmont Hospital […]
Transactions: HTA Inc. acquires MOB for $22 million in Brockton, Mass., south of Boston
BROCKTON, Mass. – Scottsdale, Ariz.-based Healthcare Trust of America (NYSE: HTA) in December 2016 acquired a 45,075 square foot MOB in Brockton for $22 million, or $489 PSF, according to RCA data.
Outpatient Projects: MOB campus planned in Minnesota
Frauenshuh proposes MOBs near Minneapolis suburb’s prominent medical corridor By John B. Mugford In the Twin Cities of Minneapolis and St. Paul, Minn., one of the most prominent medical corridors is adjacent to the 338-bed Fairview Southdale Hospital in the affluent first-ring suburb of Edina. According to a recent Minneapolis-St. Paul Medical Office report by […]
Outpatient Projects: Growing South Dakota system starts $40 million project, including 65,000 square foot clinic
WATERTOWN, S.D. – Prairie Lakes Healthcare System, a growing provider in Watertown, a city of 21,000 residents, as well as in its service area in northeast South Dakota, recently started construction on a $40 million expansion on its main hospital campus.
Outpatient Projects: Neenan Co. completes new VA outpatient clinic with telehealth capabilities in Nevada
PAHRUMP, Nev. – The Department of Veterans Affairs (VA), along with Fort Collins, Colo.-based The Neenan Co., recently completed a $12.1 million VA clinic in Pahrump, an unincorporated town 55 miles west of Las Vegas with about 36,000 residents.
