People and Companies: Mike Noto, mentor and friend to many in HRE, dies at 74
The former attorney joined Rendina in the late 1990s, staying in the sector until retiring in 2023 By John B. Mugford It is with great sadness that we report the death of Michael A. “Mike” Noto, a well-known, longtime healthcare real estate (HRE) executive and a good friend to so many in the sector, including […]
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Cover Story: Management takes center stage
Operations and leasing are in the spotlight amid a slowdown in deals and development By John B. Mugford For a few brief weeks at the tail end of 2023 and the start of 2024, when it appeared that the U.S. Federal Reserve was planning to reduce interest rates, the hopeful battle cry of the healthcare […]
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Feature Story: Playing the long game
Investment sales aren’t likely to take off again anytime soon, but healthcare real estate fundamentals remain strong By John B. Mugford By now, nearly everyone involved in healthcare real estate (HRE) knows that both the sales of facilities, namely medical outpatient buildings (MOBs), and new construction have slowed significantly during the past year or more. […]
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Transactions: Remedy-Kayne JV lands the biggest deal of 2024 so far
Partners pay $251.7 million for fully leased, 37-facility portfolio sold by Broadstone By John B. Mugford As HREI has reported in recent weeks, the longstanding joint venture (JV) partnership of Remedy Medical Properties and Kayne Anderson Real Estate has acquired several medical outpatient building (MOB) assets from Broadstone Net Lease Inc. (NYSE: BNL). As we […]
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Feature Story: Q1 MOB sales fell to a 10-year low
Construction starts are down, too, driving occupancies higher, Revista says By John B. Mugford Just how severe is the current slowdown in medical outpatient building (MOB) sales? Consider this: Four of the past five quarters, including the first quarter (Q1) of this year, were the lowest quarters for MOB sales volumes during the past eight […]
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Project Case Study: Flagship got creative for this MOB
Donating land for housing smoothed the way for the Charlotte, N.C., project By John B. Mugford It’s only natural that in the healthcare real estate (HRE) development industry – and for that matter, probably any real estate development industry – that the biggest, shiniest and perhaps most expensive “trophy” projects garner the most attention. Yet […]
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Feature Story: Time for a new type of partnership?
HRE firms, health systems should share risks and rewards, Revista panel says By John B. Mugford As he listed the numerous financial difficulties facing health systems these days – noting that the costs of running a system have increased 20 percent since 2021 while reimbursements have not nearly maintained that pace – Troy Freeman had […]
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Transactions: Evergreen buys seven Raleigh, N.C., medical assets
Highwoods Properties sold the portfolio for $62.5 million; JLL was the broker By Murray W. Wolf RALEIGH, N.C. – Highwoods Properties Inc. (NYSE: HIW) announced last Thursday, April 4, that it has sold eight Raleigh-area properties – including seven medical buildings – for a total of $79.4 million. The medical outpatient buildings (MOBs), plus one […]
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Companies & People: AHR is excited about its prospects
After its IPO, REIT pays down debt, will be selective about acquisitions By John B. Mugford As a result of its recent initial public offering (IPO), Irvine-based American Healthcare REIT (NYSE: AHR), which has been involved in the healthcare real estate (HRE) sector since 2009, was able to significantly reduce its floating rate debt. According […]
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Feature Story: Rising rates, costs catch up with the MOB development market
Revista report shows project starts fell 38.8%; also lists the largest developers of 2023 By John B. Mugford Although 2022 was generally considered to be a tough year for healthcare real estate (HRE) developers – the result of rising construction costs and inflation – the amount of medical outpatient building (MOB) space started or completed […]
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Cover Story: DOC-PEAK merger combines the ‘best’ REIT balance sheets
Top officers Scott Brinker and John Thomas say the deal offers ‘great upside’ By John B. Mugford and Murray W. Wolf The March 1 closing of the merger between Denver-based Healthpeak Properties Inc. and Milwaukee-based Physicians Realty Trust created a healthcare and life sciences real estate investment trust (REIT) valued at nearly $21 billion. Behind […]
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News Release: 2023 HREI Insights Awards Winners announced
FOR IMMEDIATE RELEASE Healthcare Real Estate Insights™ presents awards to the 2023 winners of the only comprehensive national program recognizing excellence in healthcare real estate PASADENA, Calif., Feb. 28, 2024 – Healthcare Real Estate Insights™ magazine has announced the Winners of the 2023 HREI Insights Awards™, the only national awards dedicated to recognizing excellence in […]
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News Release: Montecito Medical Acquires Orthopedic Medical Office Portfolio
Nashville, Tenn. — Montecito Medical, a leading acquirer of medical office properties nationwide, has acquired a three-building portfolio in Northern Utah. The properties, which encompass a combined total of 48,527 square feet, are anchored by Alpine Orthopaedic Specialists and 100% occupied. The buildings are situated in Logan, North Logan, and Brigham City, Utah, respectively. The […]
News Release: Montecito Medical Acquires Two-Building Portfolio in Upstate New York
Nashville, Tenn. — Montecito Medical, a leading acquirer of medical office properties nationwide, has acquired two medical office buildings in the Rochester, New York, area. The buildings, with a total of 41,700 square feet, are fully occupied by Unity Hospital, part of the Rochester Regional Health system. “We are thrilled to acquire this outstanding portfolio […]
News Release: Cushman & Wakefield Advises Sale of Vacant Office Building in Glendale, AZ for $5.375 Million
High quality, modern office asset purchased by Owner/Occupier GLENDALE, Ariz. – May 16, 2024 – Cushman & Wakefield announced the firm has arranged the sale of a Class A two-story 31,350-square-foot office building in Glendale, Arizona. The now vacant freestanding building sold to an undisclosed owner/occupier for $5.375 million. Eric Wichterman, Mike Coover and Alexandra Loye with […]
News Release: Montecito acquires orthopedic medical office portfolio
Montecito Medical, a leading acquirer of medical office properties nationwide, has acquired a three-building portfolio in Northern Utah. . The properties, which encompass a combined total of 48,527 square feet, are anchored by Alpine Orthopaedic Specialists and 100% occupied. The buildings are situated in Logan, North Logan, and Brigham City, Utah, respectively. The property in […]
News Release: Just Financed — 100% Leased to Duke University Health System (Fitch AA-)
Transaction Highlights Date Closed 4/30/2024 Size 60,192 RSF Duke Medical Plaza | Durham, NC CBRE U.S. Healthcare Capital Markets is pleased to announce the financing of Duke Medical Plaza (the “Property”) located in Durham, North Carolina adjacent to Research Triangle Park (‘RTP’). Zack Holderman and Jesse Greshin worked on behalf of the borrower to secure the […]
News Release: NAI Hiffman celebrates completion of 42,000-square-foot medical office building in Orland Park
NAI Hiffman recently joined representatives from Silver Cross Hospital and Premier Suburban Medical Group (PSMG) to celebrate the completion of the Orland Park Medical Pavilion, a two-story, 42,000-square-foot medical office building in Orland Park, Illinois, a southwest suburb of Chicago. Located at 17047 S. LaGrange Road, the facility is anchored by Silver Cross and PSMG, […]
News Release: BSN Medical Distribution Facility sells in Charlotte, NC MSA
JLL arranges the sale of BSN Medical Distribution Facility in Conover, NC CAROLINAS, May 14, 2024 – JLL Capital Markets announced today that it arranged the sale of BSN Medical Distribution Facility, a 149,987 square foot, mission-critical use facility in Conover, North Carolina. JLL represented the seller, Founders Properties, LLC, and procured the buyer, Diamond Properties. […]
News Release: Construction Industry Leader Daniel Maldonado Joins Unispace Life Sciences as Managing Director for the Americas
NEW YORK, N.Y. – May 14, 2024 – Unispace Life Sciences, a leader in designing and building laboratories and other facilities for the world’s top life sciences companies, today announced the appointment of Daniel Maldonado as Managing Director, Americas. In this role, Maldonado will leverage his three decades of international experience in the construction industry […]
News Release: CareSpace Suites to Open First Shared Medical Space in Atlanta
ATLANTA–(BUSINESS WIRE)–Officials of CareSpace Suites, a shared workspace for medical professionals, today announced the launch of the company’s flagship property in the Vinings Jubilee mixed-use development. Scheduled to open June 1, CareSpace Suites becomes the first-of-its-kind medical co-working space in Georgia. “CareSpace is a flexible medical co-working space designed to help providers expand their private […]
News Release: Bremner Real Estate partners with Hendricks Regional Health for development of cutting-edge medical office building in Brownsburg
FOR IMMEDIATE RELEASE: May 10, 2024 (Indianapolis) – Bremner Real Estate, a leading healthcare real estate developer, is thrilled to announce its collaboration with Hendricks Regional Health to provide development services for an upcoming state-of-the-art, multi-specialty medical office building in Brownsburg, IN. This transformative project marks an exciting expansion of Hendricks Regional Health’s Brownsburg hospital […]
Current Edition
- News Release: NAI James E. Hanson Negotiates Sale of Partnership Interest of Englewood, N.J. Medical Office Building
- News Release: Life Science Leader Cell Signaling Technology and HGA Unveil Plans to Transform Abandoned Rock Quarry into Climate-Friendly Research and Innovation Campus in Manchester-by-the-Sea, MA
- Life Sciences: Healthpeak-DOC merger creates $21 billion REIT