Editor’s Letter: A move to modesty?
MOBs MIGHT NOT BE SO LUXURIOUS ANYMORE By John B. Mugford Dear Reader: As we look back a mere two or three years, it seems light years from where we are now. Residential construction was booming, housing values were skyrocketing and most Americans saw no end to prosperous times. In healthcare real estate, the boom […]
Companies: McCarthy finishes work on $37 million Outpatient project
MURRIETA, Calif. – In late January, McCarthy Building Cos. Inc. completed construction on a $37 million, 72,000 square foot expansion of the women’s center and emergency room at Rancho Springs Medical Center in Murrieta. St. Louis-based McCarthy, which has offices in Southern California, also completed site improvements on the 5.5-acre site, including constructing a 252-space […]
Inpatient Projects: Hospital near D.C. continues planning
$6.5 MILLION GIFT FROM FORMER PATIENT WILL HELP PAY FOR $230M EXPANSION Staff Reports During the past couple of years, Suburban Hospital in Bethesda, Md., has been trying to overcome strong neighborhood resistance to its proposed $230 million expansion plan. But recently, the hospital received quite a vote of support from one former patient. The […]
Outpatient Projects: Construction starts on Alabama MOB
$13.5 MILLION FACILITY TO BE THIRD OFFICE BUILDING ON CULLMAN CAMPUS By John Mugford Demand is driving the development of a third medical office building (MOB) on the campus of Regional Medical Center in Cullman, Ala., about 50 miles north of Birmingham. Ground was broken in recent weeks for the future $13.5 million MOB, which […]
Transactions: Lillibridge, Grubb & Ellis acquire MOBs
LILLIBRIDGE ACQUIRES ILLINOIS PORTFOLIO; GRUBB PURCHASES WISCONSIN MOBs By John Mugford Medical office building (MOB) sales have fallen dramatically because of the recession and tight credit market. Yet at least two firms have continued to make MOB acquisitions in recent months in unrelated transactions. They are Chicago-based Lillibridge and Santa Ana, Calif.-based Grubb & Ellis […]
Capital Markets Snapshot: Fed action might ease some loan rates
DECLINE IN TREASURY BOND INTEREST COULD BENEFIT LOWER-RISK OFFERINGS The most important development in the capital markets in the past month was the Federal Reserve’s announcement that it will initiate a massive Treasury Bond repurchase program, which drove down medium and long-term bonds by as much as 50 basis points. Given that short-term rates are […]
Q&A: Firm likes the Northeast
NOYACK’S FOLLINI REMAINS BULLISH ABOUT SECTOR By John Mugford The economic news in almost every business sector in almost every nook and cranny of the country is not good, as we all know. And even though healthcare is often regarded as an industry that can weather most economic storms, the current recession is taking a […]
Special Report: Lessons of the recession
HEALTHCARE SECTOR MIGHT SEE LASTING CHANGES By John Mugford By the end of 2009, some healthcare real estate experts predict a loosening of debt and equity capital, and a revival of medical office building (MOB) sales transactions. But they say we won’t necessarily see a return to business as usual. Healthcare has fared far better […]
Industry Pulse: March 2009
WASHINGTON – As we all know by now, healthcare is not recession-proof. However, it was one of the few sectors to add jobs in 2008, as an estimated 371,600 healthcare jobs were added last year, according to the U.S. Bureau of Labor Statistics. In December 2008, as the rest of the economy was shedding jobs, […]
