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The Clara Maass Medical Center (CMMC) MOBs consist of three newly renovated buildings totaling 128,006 square feet on the CMMC campus in Belleville, N.J. Photo courtesy of Rendina Healthcare Real Estate

2016 HREI Insights Awards Winner: Best Renovated/Repurposed

N.J. renovation raises satisfaction Rendina financed, developed, leases, owns and manages three-building complex Facility name: Clara Maass Medical Center Medical Office Buildings Address, City, State: 36 and 50 Newark Ave. and 5 Franklin Ave., Belleville, N.J. Client: RWJBarnabas Health; multi-tenant, multi-specialty Product type: MOB Number of stories: Three (36 Newark), four (50 Newark) and five […]

NexCore’s Buck Creek Medical Plaza in Avon, Colo., was one of five outpatient projects the firm completed in 2016.

  

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2016 HREI Insights Awards Winner: Best New MOB (25,000-49,999 S.F.)

Collaboration keys Colorado project NexCore perseveres against all odds to build much needed MOB near Vail Facility name: Buck Creek Medical Plaza Address, City, State: 50 Buck Creek Road, Avon, CO Client/anchor tenants: Colorado Mountain Medical and Centura Health Product type: MOB and FED/urgent care Number of stories: Three Square footage: 48,300 Site acreage: 2.15 Parking: 168 total spaces (69 surface and […]

The expansion of TriHealth Bethesda Butler hospital in Cincinnati had to be completed in four phases to minimize the disruption of hospital operations. Photo courtesy of Duke Realty

2016 HREI Insights Awards Winner: Best Inpatient Facility

Multi-phase expansion meets needs Duke Realty’ orchestrates a four-step development for TriHealth in Cincinnati Facility name: TriHealth Bethesda Butler Address, City, State: 3125 Hamilton-Mason Road, Cincinnati, OH Client: Bethesda Hospital Product type: Acute care hospital Number of stories: Two Square footage: 53,512 (Phase 4) and 90,788 (total) Site acreage: 12.042 Parking: 883 spaces added in […]

The Beach House Assisted Living and
 Memory Care community in Naples, Fla., is
the culmination of more than 10 years of effort. Photo courtesy of Prevarian

2016 HREI Insights Awards Winner: Best Post-Acute/Senior Living

More than a decade in the making Persistent Prevarian hung in there to complete Naples, Fla., senior community Facility name: Beach House Assisted Living and Memory Care Address, City, State: 1000 Airport Pulling Road S., Naples, FL Client/owner: PSL Beach House-Naples LP Product type: Senior living facility Number of stories: Two Number of units: 113 […]

Tim Oliver (center), flanked by two of his NexCore colleagues, Todd Varney (left) and Greg Venn (right), received his HREI Insights Awards™ Lifetime Achievement Award at the RealShare HRE conference in Scottsdale, Ariz., in December. NexCore also won the award in the “Best New Development, MOBs and Other Outpatient Facilities (25,000 to 49,999 square feet)” category. (HREI photo)

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 […]

Anchor Health Properties and Seavest Healthcare Properties collaborated to develop the $23 million Penn Medicine Southern Chester County building. Photo courtesy of Anchor Health Properties

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 […]

The 72,022 square foot Medical Arts Center at The Hartford HealthCare Cancer Institute in Plainville, Conn., about 15 minutes outside of Hartford, is now owned by Physicians Realty Trust, which paid $30.25 million for the medical office building (MOB). (Photo courtesy of HFF)

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 […]

The 11,920 square foot 75 Baker St. building in Providence, R.I., is one of 12 mostly medical properties Benedict Realty Group recently acquired for $60 million, adding to a portfolio of mostly medical buildings totaling more than 600,000 square feet. (Photo courtesy of HFF)

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.

The 82,024 square foot Fletcher Parkway Medical Center, which is adjacent to Sharp Grossmont Hospital outside of San Diego, was recently put on the market. Photo courtesy of HFF

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 […]