Publisher’s Letter (January 2006)
Curios about cap rates 7 PERCENT TO 8 PERCENT SEEMS COMMON Dear Reader: As one of the few established sources of healthcare real estate information, we get many phone calls and e-mails from readers looking for industry data – especially late in the year during strategic planning time. We have never formally kept track, but […]
Special Focus: MOB Conversions (January 2006)
Aversion to conversion? MORE PROPERTIES ARE BEING ADAPTED FOR MEDICAL USE By Jessica Griffith Developers and owners generally prefer to house medical offices either in new construction or in buildings specifically designed for healthcare tenants. There are reasons for this: Old office buildings frequently do not have the infrastructure or ceiling height to […]
Project Case Study: Skypark (January 2006)
OVERFLOW FROM 01-06. NEW STUFF BELOW. COMPANIES A joint venture of Paric Corp. and Barton Malow Co. is building the $75 million, five-story, 180,000 square foot, 72-bed Progress West HealthCare Center on 48 acres in O’Fallon, Mo. St. Louis-based Paric and Southfield, Mich.-based Barton Malow say the project will be completed next year. St. Louis-based […]
Transactions (January 2006)
New firm makes first MOB acquisition JOSS REALTY PLANS TO TARGET ASSETS IN THE $20 MILLION TO $50 MILLION RANGE By Brian Busek JOSS Realty Partners LLC is a new player in urban commercial real estate – and, it appears, on the medical real estate scene. According to a recent news release, the […]
Senior Living (January 2006)
Merrill Gardens makes $126M purchase SEATTLE OWNER/OPERATOR BUYS SIX COMMUNITIES FROM WESTLAKE AFFILIATE By John Mugford Merrill Gardens, a Seattle-based owner and operator of senior housing communities, has entered an agreement to acquire a six-community portfolio of senior housing properties from a division of San Mateo, Calif.-based Westlake Development Co. The $126-million, 1,000-unit transaction was […]
Outpatient Projects (January 2006)
NexCore opens two Chicago-area MOBs DEVELOPER ALSO COMPLETES MEDICAL OFFICE AND SURGERY CENTER IN OREGON By Murray Wolf Denver-based NexCore Group says it has opened two new medical office buildings (MOBs) on Alexian Brothers Health System campuses in suburban Chicago, and has completed construction of a freestanding MOB and surgery center in Bend, […]
Inpatient Projects (January 2006)
Indiana provider opens $284M facility CLARIAN HEALTH PARTNERS EXTENDS REACH NORTH OF INDY WITH NEW MED CENTER By Brian Busek The $248 million, 700,000 square foot Clarian North Medical Center in Carmel, Ind., north of Indianapolis, is busy making the transition from construction heavyweight to medical powerhouse after opening for business in early […]
Companies & People (January 2006)
COMPANIES A joint venture of Paric Corp. and Barton Malow Co. is building the $75 million, five-story, 180,000 square foot, 72-bed Progress West HealthCare Center on 48 acres in O’Fallon, Mo. St. Louis-based Paric and Southfield, Mich.-based Barton Malow say the project will be completed next year. St. Louis-based HOK is the project architect… Minneapolis-based […]
Financing & Investment (January 2006)
Beverly Enterprises Inc. (NYSE: BEV) of Fort Smith, Ark., announced Nov. 21 that financing commitments related to its previously reported merger process had been fulfilled, including receipt of a $350 million equity commitment and a $50 million letter of credit. The company has entered into an amended merger agreement at a revised all-cash price of $12.50 per share. Under the amended agreement, Fillmore Strategic Investors LLC, an affiliate of Fillmore Capital Partners – a private equity firm focused on investments principally in the lodging and healthcare sectors – will replace North American Senior Care (NASC) and its affiliates as the acquiring entity.
