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February 2017 PDF

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February 2017

February 2017

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The 73,238 square foot Adena Health Pavilion at 4437 Highway 159 in Chillicothe, Ohio, was part of Starwood Property Trust’s acquisition of a 35-building portfolio from NorthStar Realty Finance for $796.6 million to close out Q4 2016, bolstering the quarter’s total MOB sales volume to $3.33 billion.
Photo courtesy of Cornerstone Cos. Inc.

Transactions: MOB sales strong in Q4 2016

Bolstered by a big portfolio sale, quarter’s MOB volume hit $3.33 billion By John B. Mugford Commercial real estate brokers are known to say that sales of medical office buildings (MOBs), as well as other types of commercial real estate, typically pick up in the final quarter of most years. That was certainly the case […]

680 N. Lake Shore Drive in Chicago includes 493,064 square feet of medical office, office and retail space, plus a 331-space parking garage. (Photo courtesy of TopMed Realty)

Transactions: Welcome back, TopMed team

Former ProMed Properties executives make first acquisition as new company By John B. Mugford For a time, between 2006 to 2012, New York-based ProMed Properties was a significant owner of medical office and healthcare properties up and down the East Coast. During that half dozen years or so, ProMed, a subsidiary of Tel Aviv, Israel-based […]

LaSalle Investment Management acquired a 150,000 square foot repurposed former retail store from Finmarc Management for $81.8 million. (Photo courtesy of Penn Medicine)

Transactions: LaSalle acquires 150,000 s.f. MOB

Price was $81.8 million for repurposed former retail store in Cherry Hill, N.J. By John B. Mugford When Bethesda, Md.-based Finmarc Management Inc. acquired a vacant Syms department store building on an 11-acre in a heavily trafficked area of Cherry Hill, N.J., for $4.75 million in 2013, it had a number of options for transforming […]

Officials from WVU Medicine University Healthcare Physicians (UHP) and WVU Medicine University Healthcare gathered Jan. 18 with community representatives for a groundbreaking ceremony to celebrate the future site of the Spring Mills Medical Office Building.  (Photo courtesy of WVU Medicine University Healthcare)

Outpatient Projects: Physicians to own future MOB underway in far eastern West Virginia

SPRING MILLS, W.Va. – Ground has been broken in Spring Mills, in the far eastern part of the state, for a future $11 million MOB that will be owned by doctors with WVU (West Virginia University) Medicine Healthcare Physicians. The group has an affiliation with relationship with Morgantown, W. Va.-based WVU Medicine University Healthcare, which […]

Jackson Health System has broken ground for the development of a new 27.3-acre campus in Doral, Fla., called Jackson West. The medical campus would include outpatient and emergency services and, eventually, a 100-bed acute care hospital. (Rendering courtesy of Jackson Health System)

Inpatient Projects: Jackson starts work on new campus

Provider breaks ground for inpatient facilities in Doral, Fla.; hospital to be added By John B. Mugford In its quest to build a new hospital in what is often referred to as a “medical desert” in Doral, Fla., Miami-based Jackson Health System is still trying to overcome a number of obstacles and challenges to culminate […]

A Canadian development firm and a company part-owned by Jimmy Buffett plans to develop a massive senior housing community with 6,900 residences in Daytona Beach, Fla., that would have a Margaritaville theme, based on the singer’s hit song. (Rendering courtesy of Minto Group)

Post-Acute & Senior Living: Calling all ‘parrot heads’ to Florida

Senior community’s theme would be based on Jimmy Buffet’s Margaritaville By John B. Mugford As senior housing projects continue to compete for residents, some of the newer communities are being built with specific themes in order to possibly provide a competitive edge. For some senior housing communities, being located near certain amenities – such as […]

As part of its joint venture partnership with USAA Real Estate, Flagship Healthcare Properties in mid-2016 added to its portfolio this facility, the 100,000 square foot DePaul Medical Plaza in Norfolk, Va. (Photo courtesy of Flagship Healthcare Properties)

Companies & People: Flagship adds ‘healthcare’ to its name

Company is growing in all facets; adds Dev Gregg to lead development team By John B. Mugford It seemed like only a matter of time before Brackett Flagship Properties LLC changed its named to reflect the strong niche it’s carved out in the Southeast healthcare real estate (HRE) market. The Charlotte, N.C.-based company did just […]

Capital markets: Multi-asset class portfolio finance

Capital markets: Multi-asset class portfolio finance

It’s a part of the HRE market that presents a unique financing challenge By Erik Tellefson Healthcare portfolio acquisitions were a large part of the medical office building (MOB) landscape in 2016 and this trend is projected to continue in 2017. In particular, multi-asset class healthcare portfolios will be part of the healthcare real estate […]

Minneapolis-based The Davis Group recently announced that it is teaming with Aventura, Fla.-based Elion Partners on the development of an MOB that will have 50,000 square feet, or more, in a new mixed-use project in Woodbury, Minn., east of St. Paul. (Rendering courtesy of The Davis Group)

Outpatient Projects: Minnesota firm plans new MOB

The Davis Group announces project in expanding mixed-use development By John B. Mugford The most prolific medical office building (MOB) developer in the Twin Cities area of Minneapolis and St. Paul, Minn., during the past couple of decades is planning another facility in a growing suburb. Minneapolis-based The Davis Group recently announced that it is […]