LaSalle Group breaks ground for Tulsa assisted living facility
THE LASALLE GROUP, inc. MOVES INTO NEW TERRITORY OPENING ITS unique brand of SPECIALIZED MEMORY CARE communities IN THE TULSA MARKETLeading Real Estate Developer Constructs State-of-the-Art Facility Dedicated Specifically to Alzheimer’s and Memory Care in Tulsa, OKTulsa, OK – November 29, 2010 – Dallas-based developer The LaSalle Group, Inc. is breaking ground on its first […]
Publisher’s Letter: Repeal health reform
WE CAN’T AFFORD IT, GOVERNMENT CAN’T RUN IT By Murray W. Wolf Dear Reader: It is time to repeal the fundamentally flawed Patient Protection and Affordable Care Act, alias healthcare reform. Admittedly, repeal is unlikely. Although the GOP now controls the House, the Democrats still control the Senate and President Obama still has veto power. […]
Companies: Duke Realty chosen to develop MOB
REX HEALTHCARE SELECTS FIRM TO BUILD FACILITY IN RALEIGH, N.C., SUBURB By John Mugford Raleigh, N.C.-based Rex Healthcare recently selected Indianapolis-based Duke Realty Corp. (NYSE: DRE) as the developer of a two-story, 30,000 square foot medical office building (MOB) in the fast-growing Raleigh suburb of Holly Springs. A ground breaking was held in recent weeks […]
Companies: Firm buys doc-owned Houston hospital
NORVIN PARTNERS ACQUIRES REAL ESTATE, ARRANGES JOINT VENTURE OPERATOR By John Mugford In a deal put together by New York-based Norvin Properties and its managing partner and founder, Norman K. Livingston, Houston-based St. Luke’s Episcopal Health System recently acquired 51 percent of a new joint venture that is operating Patients Medical Center (PMC) in Pasadena, […]
Inpatient Projects: At last, a hospital in St. Bernard Parish
FIVE YEARS AFTER HURRICANE KATRINA, A $69.1 MILLION FACILITY IS UNDER WAY By John Mugford When Hurricane Katrina struck the New Orleans metropolitan area in 2005, it destroyed virtually every notable structure – including all four hospitals – in St. Bernard Parish, just south of the city. In the aftermath of the destruction, there was […]
Outpatient Projects: Freestanding EDs continue to be built
TWO NEW PROJECTS APPROVED IN NORTH CAROLINA; OTHERS UNDER WAY By John Mugford In what is certainly a nationwide trend, quite a few health systems are building freestanding emergency departments (EDs) in growing, often suburban or exurban, areas. The developments allow a health system to put its toe in the water of a new market, […]
Transactions: HTA closes on more MOB acquisitions
PACE OF PURCHASES, CONTRACTS SOARS IN PAST MONTH; $800M YEAR IN SIGHT By John Mugford Sorting through the numerous acquisitions and purchase agreements that Scottsdale, Ariz.-based Healthcare Trust of America Inc. (HTA) has made or entered in the last month can get complicated. That’s because the healthcare-focused real estate investment trust (REIT) has gone on […]
Transactions: Medical portfolio selling for $470M
SENIOR HOUSING PROPERTIES TRUST AGREES TO BUY 27 BUILDINGS IN 12 STATES By John Mugford When Seniors Housing Properties Trust was spun out of HRPT Properties Trust in 1999 as a publicly traded healthcare real estate investment trust (REIT), it retained the right of first refusal on a number of medical properties that HRPT – […]
Transactions: Hines closes on $97.9M acquisition
SUBSIDIARY BUYS DUKE UNIVERSITY-ANCHORED HOCK PLAZA I IN DURHAM, N.C. By Murray W. Wolf Hines Global REIT Properties LP recently closed on the previously announced acquisition of the 12-story, 327,160 square foot (rentable) Hock Plaza I at 2424 Erwin Rd. in Durham, N.C. The net purchase price was $97.9 million, exclusive of transaction costs, financing fees […]
Capital Markets Snapshot: Congress delays Medicare pay cuts
OVERHAUL OF REIMBURSEMENT SYSTEM WOULD IMPACT FINANCIAL STRATEGIES Just days ago, Congress agreed to a one-month delay in a proposal that would have cut Medicare payments to doctors starting on Dec. 1. Had the House of Representatives not passed a bill approved earlier by the Senate, the pay schedule for doctors would have been cut […]
Special Report: Providers provide advice
WHAT HEALTH EXECS WANT FROM REAL ESTATE FIRMS By John Mugford Despite all of the changes taking place in the healthcare industry, there is still a need for third-party real estate developers, owners and advisors to provide services to large healthcare systems. Real estate firms, however, might need to alter their traditional roles when providing […]
News & Analysis: MOB sales jumped in Q3
VOLUME TOPPED $1 BILLION; FIRST TIME SINCE Q2 2008 By John Mugford Anyone hoping for a bounce back in medical office building (MOB) sales starting in the second half of 2010 certainly got what they wished for. For the third quarter (Q3), which ended Sept. 30, MOB sales totaled $1.083 billion, according to data compiled […]
Industry Pulse: November 2010
NEW YORK – Perhaps in yet another sign that the medical office building (MOB) sector remains a viable and safe real estate investment choice, another real estate investment trust (REIT) concentrating on healthcare facilities is in the process of going public. Atlanta-based Richmond Honan Medical Properties Inc. recently announced its intention to raise up to […]