Outpatient Projects: U of Minnesota eyes ambulatory plan
UNIVERSITY SEEKS $100 MILLION GRANT TO HELP PAY FOR $250 MILLION FACILITY By John Mugford As the University of Minnesota continues construction on its future facility for Amplatz Children’s Hospital, the university’s Board of Regents has approved bonding for an even bigger medical project on the Minneapolis campus. In recent weeks, the regents gave the […]
Transactions: Rendina Cos. acquires MOB in Illinois
FIRM BUYS PROPERTY ON PROVENA SAINT JOSEPH MEDICAL CENTER CAMPUS By John Mugford Jupiter, Fla.-based Rendina Cos. recently acquired a three-story, 70,023 square foot MOB in Joliet, Ill., for an undisclosed price. The MOB, known as Madison Medical Plaza, is on the campus of the 480-bed Provena Saint Joseph Medical Center. Versa Property Management, a Rendina […]
Transactions: Equity Inc. makes move into Texas
OHIO REAL ESTATE FIRM ACQUIRES 70,327 S.F. FOOT PROPERTY IN CORPUS CHRISTI By John Mugford Columbus, Ohio-based Equity Inc. recently made its foray into the Texas healthcare market, as it acquired the Wellspring Center, a three-story, 70,327 square foot medical office building (MOB) on 0.61 acres at 5802 Saratoga Blvd. in Corpus Christi. The purchase price […]
News & Analysis: Tenet sells nine South Florida MOBs
JOINT VENTURE OF LOCAL FIRM, LARGE INVESTOR BUYS EIGHT PROPERTIES By John Mugford It’s been almost three years since Dallas-based Tenet Healthcare Corp. (NYSE: THC) announced that it planned to sell a massive portfolio of 34 medical office buildings (MOBs) located on or near its hospital campuses. Well, everyone knows what happened since then to […]
Capital Markets Snapshot: Stability of capital markets continues
BUT, BECAUSE THIS RECESSION DIFFERED FROM OTHERS, UNCERTAINTY REMAINS By Cain Brothers The capital markets have remained reasonably stable over the past month and generally display the same key characteristics that have defined the markets for most of the year. Those characteristics are: near zero short-term interest rates; very low long-term treasury rates; very accommodating […]
Q&A: Braun sees opportunities
NEW COGDELL CEO DISCUSSES COMPANY, INDUSTRY By John Mugford As far as James W. “Jim” Cogdell is concerned, the newly named chief executive officer (CEO) and president of the company that he founded back in the early 1970s has what it takes to lead the firm, Cogdell Spencer Erdman (NYSE: CSA), to the “next level […]
News & Analysis: HTA plans $196.6M buy
REIT AGREES TO ACQUIRE THREE-STATE PORTFOLIO By Murray W. Wolf Healthcare Trust of America Inc. (HTA) has agreed to acquire a three-state, nine-building, 960,000 square foot medical office building (MOB) portfolio for $196.645 million. The pending deal, which was announced just as this edition of Healthcare Real Estate Insights™ was about to go to press, […]
Industry Pulse: October 2010
PHOENIX – There has been growing speculation during the past several months that the healthcare industry will consolidate because healthcare reform, the recession, reduced reimbursement rates and other challenges have made it increasingly difficult for smaller providers to compete. Recently, a flurry of merger and acquisition (M&A) activity seems to be giving credence to those […]
Editor’s Letter: Not sure there’s space…
BUT WE HAVE ADDED ANOTHER NEWS SECTION By John B. Mugford Dear Reader: As noted in the headline above, I’m not sure that we have room for any more material – let alone a whole new section of news – in Healthcare Real Estate Insights™. But damn the torpedoes, we’re adding a new section anyway. […]
Product Focus: Proton Beam centers taking off
DESPITE HIGH COSTS, ENTITIES FORGING AHEAD WITH CENTERS AROUND COUNTRY By Jessica Griffith When ProVision Healthcare LLC solidified its plans for a comprehensive cancer campus in Knoxville, Tenn., it was a “no-brainer” to include a proton therapy center. “Right now, proton therapy is one of the most cutting-edge treatments you can receive,” says Scott Warwick, […]
People: HTA’s Engstrom joins HREI™ edit board
HE REPLACES PETERS; LILLIBRIDGE DEAL ALSO PROMPTS UNRELATED CHANGE By Murray W. Wolf The world of healthcare real estate is ever changing, and that has recently been reflected by the Healthcare Real Estate Insights™ Editorial Advisory Board. Mark D. Engstrom, executive VP – acquisitions for Healthcare Trust of […]
Provider News: Community Health buying two systems
PUBLICY TRADED HEALTHCARE SYSTEM SNAPPING UP STRUGGLING HOSPITALS By John Mugford Franklin, Tenn.-based Community Health Systems Inc. (NYSE: CYH) recently went on a bit of a buying spree, acquiring two hospital systems: one in Ohio and the other in South Carolina. The purchases expanded the company’s portfolio to more than 125 hospitals and 18,000 beds […]
Lillibridge starts on Baton Rouge MOB
PROJECT IS FIRM’S FIRST NEW DEVELOPMENT SINCE BEING ACQUIRED BY VENTAS By John Mugford Ventas Inc. (NYSE: VTR) and Chicago-based Lillibridge Healthcare Services Inc. made big news this summer. When Chicago-based Ventas, one of the country’s largest healthcare real estate investment trusts (REITs), announced in June that it would acquire Lillibridge in a deal valued […]
Outpatient Projects: NexCore starts new project in Illinois
DENVER-BASED FIRM WILL DEVELOP, OWN $52 MILLION PROJECT NEAR CHICAGO By John Mugford Denver-based NexCore Group broke ground in recent days on a six-story, 182,000 square foot Medical Services Building (MSB) on the campus of the future Silver Cross Hospital under construction in New Lenox, Ill., just outside of Joliet and about 30 miles from […]
Transactions: HTA agrees to Pittsburgh purchase
REPORTS SAY WEST PENN ALLEGHENY SYSTEM MIGHT OCCUPY ENTIRE BUILDING By John Mugford Scottsdale, Ariz.-based Healthcare Trust of America Inc. (HTA) in recent weeks was poised to make a second major acquisition in Pittsburgh. HTA recently agreed to acquire the Alcoa Business Services Center, a six-story, 230,000 square foot office property located across the street […]