Inpatient Projects: Colorado hospital starts $76M project
GROWING PARKER ADVENTIST, SOUTH OF DENVER, TO ADD THREE-STORY WING By John Mugford Ever since Parker Adventist Hospital opened five years ago in a growing area south of Denver, growth has been the name of the game. The hospital’s bed count has gone from an initial 56 to 100, and patient volume has doubled. The […]
Outpatient Projects: Rendina moving forward on two MOBs
ONE PROJECT IS A J.V. WITH HEALTH CARE REIT, THE OTHER IS IN LOS ANGELES By John Mugford The Rendina Cos. of Jupiter, Fla., looks to be doing its part to keep healthcare real estate development moving. In recent weeks the medical real estate firm announced deals for the development of two projects, one in […]
Transactions: Sanders Trust buys large MOB in Indy
145,000 SQUARE FOOT METHODIST PROFESSIONAL CENTER 2 IS FULLY OCCUPIED By John Mugford Birmingham, Ala.-based Sanders Trust in June acquired the 145,000 square foot, 100 percent occupied Methodist Professional Center 2 (MPC2) in Indianapolis. The five-story medical office building (MOB) is on the massive campus of the 802-bed Methodist Hospital, which is the state’s largest […]
Capital Markets Snapshot: A new ‘normal’ for capital markets?
BIG ISSUES ON HORIZON INCLUDE FED VS. INFLATION, FLOW OF PERMANENT DEBT The real estate capital markets have been relatively stable for the past few months, suggesting a possible new “normal,” at least for the near term. Even so, real estate investors remain cautious and generally more concerned about downside risk than about missing opportunities. […]
Companies: Firm launches $40M fund
MED REAL ESTATE STILL STRONG, OMAN-GIBSON SAYS By John Mugford A combination of the current economic conditions and tight lending market, as well as the relative strength of healthcare real estate, has prompted a national development firm to start a fund that could see investments totaling up to $90 million in medical office buildings (MOBs) […]
News & Analysis: New debt, new equity
LILLIBRIDGE GETS $250M REFI, PLUS $30M FROM PRU By John Mugford For many commercial property owners and developers – including those involved in healthcare real estate – the recession has put them in quite a financial pinch. They face difficulties in refinancing mortgages when debt maturities come due, and in trying to raise capital to […]
Industry Pulse: July 2009
CHICAGO – Despite signs that healthcare real estate is showing signs of fatigue in the current economy, there are still plenty of folks in the industry who say that now and in the somewhat near future is not that bad of a time to be a service provider or investor in the medical office space […]
Editor’s Letter: We’ll see you in Philly
BOMA MOB CONFERENCE IS SURE TO BE TIMELY By John B. Mugford Dear Reader: As the deadline for this issue approached, we at Healthcare Real Estate Insights™ were preparing for our annual trip to BOMA International’s Medical Office Buildings and Healthcare Facilities Conference in Philadelphia, June 24-26. We couldn’t look forward to it any more. […]
Companies: JLL nabs 700K SF management deal
ALEXIAN BROTHERS’ PORTFOLIO INCLUDES 50 PROPERTIES IN CHICAGO SUBURBS By John Mugford Chicago-based Jones Lang LaSalle (JLL) recently entered into a contract with Arlington Heights, Ill.-based Alexian Brothers Health System to provide property management services for the provider’s 700,000 square foot medical office building (MOB) portfolio. The portfolio comprises 50 properties throughout the northwestern suburbs […]
Provider Perspective: Why health systems monetize MOBs
TENET HEALTHCARE VP SAYS RESOURCES ARE BEST SPENT ON CORE BUSINESS By John Mugford When a top officer with Dallas-based Tenet Healthcare Corp. talked about his company’s relationship with its ancillary real estate, his explanation probably would have been a bit confusing to someone not involved in the medical space. After all, Nicholas Bonrepos, the […]
Special Reports: Consultant sees ‘a whole new boom’
HEALTHCARE REFORM WILL FORCE REBUILDING OF INFRASTRUCTURE, HE PREDICTS By Murray W. Wolf The U.S. healthcare system is “broken” and efforts to fix it will create “a whole new boom” in healthcare real estate. That was one of the key messages conveyed by the keynote speaker during the recent InterFace Medical Office conference in Chicago. […]
Transactions: Knoxville MOB part of two-asset sale
PARKSIDE PLAZA REPORTEDLY SOLD FOR $267 PSF TO LLC THAT INCLUDES A TIC Staff Reports Earlier this year, the two-building Parkside Plaza at Turkey Creek office complex in a suburb of Knoxville, Tenn., was sold in a deal valued at more than $40 million, according to a recent news release from NAI Knoxville. The brokerage […]
Outpatient Projects: MOB in Aliso Viejo to be eco-friendly
20,000 SF PROJECT WOULD ADD TO MARKET WITH 7.8 PERCENT MOB VACANCY RATE By John Mugford The only medical office building currently being planned in Aliso Viejo, Calif., located in Orange County, is a two-story, 20,000 square foot facility called Two Journey Medical Plaza. The project, which is being billed as “eco-friendly,” received city approval […]
Inpatient Projects: $430M replacement starts east of L.A.
KAISER’S FONTANA HOSPITAL BEING BUILT TO MEET TOUGHER QUAKE GUIDELINES By John Mugford Kaiser Permanente recently began construction on a new 314-bed replacement hospital in Fontana, Calif., located about 25 miles east of Los Angeles. A groundbreaking was held in May for the new hospital, which would have 481,000 square feet of space and be […]
Capital Markets Snapshot: Not out of the woods, but near bottom
CAPITAL MARKET CONDITIONS ARE BECOMING MORE CONSISTENT WITH HISTORY While we are not yet out of the woods, the consensus view is that we are near or at the bottom of this severe economic contraction. Most economists eschew the prospects of a V-shaped recovery but foresee very slow improvement from the newly established base level […]
