Transactions (Febraury 2008)

Nationwide mops up MOBs in St. Louis


By John Mugford

Nationwide Health Properties (NYSE: NHP), a publicly traded healthcare real estate investment trust (REIT) based in Newport Beach, Calif., is continuing with its diversification toward owning more and more MOBs.

As noted in an article starting on page 1 of this edition of Healthcare Real Estate Insights™, NHP has acquired about 1.5 million square feet of MOB space in a joint venture (JV) with Denver-based InSite Medical Properties, a division of the Broe Group, in the past 18 months or so. Also, NHP late last year teamed with San Diego-based Pacific Medical Buildings in the $120 million acquisition of a seven-building MOB portfolio in Vancouver, Wash.

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