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June 2017

June 2017

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June 2017 PDF

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Cover Story: Four ways the HTA-Duke Realty deal changes the industry

Cover Story: Four ways the HTA-Duke Realty deal changes the industry

The buzz has slowed a bit in the aftermath of the blockbuster healthcare real estate (HRE) deal of 2017, but there are still a few details to be worked out and the transaction is likely to have an ongoing impact on the sector in several ways. By John B. Mugford The deal, of course, has […]

Outpatient Projects: Rendina to break ground in fall 2017 on ambulatory care center in Bristol, Conn.

BRISTOL, Conn. – In more news from Jupiter, Fla.-based Rendina Healthcare Real Estate, the company says it plans to break ground this coming fall on a 60,000 square foot ambulatory care center (ACC) in downtown Bristol, a city of about 60,000 residents.

The five-building, 504,721 square foot Offices at Pin Oak Park just outside of Houston has emerged in recent years as a medical office park, thanks in large part to its location seven minutes or so west of the massive Texas Medical Center.
Photo courtesy of JLL

Hot Property: Office park emerging as MOB hotbed

Five-building property complements Houston’s Texas Medical Center Name: Pin Oak Portfolio City: Bellaire, Texas (Houston metro) Number of buildings: 5 Square feet: 504,721 Campus size: 12 acres Occupancy: 93 percent Medical tenancy: 58 percent Brokers: Mindy Berman, Tom Fish, Brian Bacharach and Rudy Hubbard of JLL In Greater Houston, one of the most affluent, conveniently […]

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Transactions: Montecito acquires “premier destination” MOB in Carlsbad, Calif., for $27.3 million

CARLSBAD, Calif. – Nashville, Tenn.-based Montecito Medical Real Estate in May acquired the 49,580 square foot North Coast Medical Plaza in Carlsbad, an affluent coastal town just north of San Diego.

Transactions: The Sanders Trust enters its 22nd state with $21 million purchase in Maryland

HAGERSTOWN, Md. – Birmingham, Ala.-based The Sanders Trust (TST), an HRE facilities owner and development firm, recently made its foray into Maryland, the 22nd state where it has a presence.

Transactions: Pension fund buys Houston-area MOBs for $58 million; Marcus & Millichap brokers the sale

Transactions: Pension fund buys Houston-area MOBs for $58 million; Marcus & Millichap brokers the sale

HOUSTON – Institutional Property Advisors (IPA), a Marcus & Millichap subsidiary, announced in early June that it brokered the $58 million sale of a portfolio of fully leased medical office buildings (MOBs) near Houston: Memorial Hermann Surgical Hospital and Physicians Pavilion in Sugar Land, and two UT Physicians facilities in Sugar Land and Richmond.

Transactions: MedProperties Holdings, Cypress West acquire Bakersfield, Calif., MOB for $16.1 million

Transactions: MedProperties Holdings, Cypress West acquire Bakersfield, Calif., MOB for $16.1 million

BAKERSFIELD, Calif. – A partnership of Dallas-based MedProperties Holdings LLC and Rancho Santa Margarita, Calif.-based Cypress West Partners recently acquired Riverwalk Medical Plaza, a 54,923 square foot MOB in Bakersfield.

Transactions: MPT to acquire 11 hospitals for $1.4B

Hospital-focused REIT will buy 11 IASIS facilities from Steward Health Care By John B. Mugford Birmingham, Ala.-based Medical Properties Trust Inc. (NYSE: MPW) in May announced that it had signed definitive agreements to acquire the real estate interests of 10 acute care hospitals and one behavioral health facility operated by Franklin, Tenn.-based IASIS Healthcare. The […]

One of the Arizona assets Healthcare Trust of America Inc. recently acquired from a joint venture of NexCore Group LP and Heitman was the nine-story, 169,000 square foot McAuley Medical Office Building at 500 W. Thomas Road in Phoenix. Photo courtesy of NexCore Group

Transactions: HTA lands $150 million MOB portfolio

REIT acquires 11 assets in Arizona, California from NexCore-Heitman joint venture By John B. Mugford Scottsdale, Ariz.-based Healthcare Trust of America Inc. (NYSE: HTA) grabbed headlines in May for its pending acquisition of most of Indianapolis-based Duke Realty Corp.’s (NYSE: DRE) medical office building (MOB) portfolio. The price tag is likely to be at or […]

Transactions: MBRE Healthcare acquires Seattle-area MOB for $17.45 million in a sale-leaseback transaction

Transactions: MBRE Healthcare acquires Seattle-area MOB for $17.45 million in a sale-leaseback transaction

PUYALLUP, Wash. – Newmark Grubb Knight Frank (NGKF) Global Healthcare Services announced May 15 that it recently closed on the $17.45 million sale of the 31,921 square foot Rainier Orthopedic Institute in Puyallup.

Transactions: Pat Davis Properties acquires four-building Forest Green office/med complex in Dallas

DALLAS – Marcus & Millichap announced May 2 that it handled the recent sale of the four-building, 173,790 square foot Forest Green office/medical complex in Dallas.

Caddis acquired the 15,005 square foot George Dieter Medical Plaza in El Paso, Texas, one of four healthcare real estate closings the company completed in one day. Photo courtesy of Caddis

Transactions: In a single day, Caddis buys two MOBs, advises in a sale and refinances a portfolio

DALLAS – Healthcare real estate professionals often say that closing just one transaction involves a grueling mix of stress and tedium that can drag on for days.

Transactions: Griffin American Healthcare REIT IV acquires a pair of identical Athens, Ga., MOBs for $16.8M

Transactions: Griffin American Healthcare REIT IV acquires a pair of identical Athens, Ga., MOBs for $16.8M

ATHENS, Ga. – American Healthcare Investors and Griffin Capital Company LLC, the co-sponsors of Griffin-American Healthcare REIT IV Inc., announced May 24 that the REIT has acquired two identical MOBs totaling 61,203 square feet in Athens.