Post-Acute and Senior Living: Senior housing recovery continues as Q4 occupancy climbs to 89.1 percent
ANNAPOLIS, Md. – The average occupancy rate for senior housing was 89.1 percent during the fourth quarter (Q4) of 2012, up 0.3 percent from Q3 and up 1 percent Q4 2011, according to the Annapolis-based National Investment Center for the Seniors Housing & Care Industry (NIC). “Occupancy is now at a four-year high and, with […]
Post-Acute and Senior Living: Norvin acquires Texas rehab hospital
Private equity firm pays $32.9 million for fully leased, 50-bed facility in Austin By John B. Mugford New York-based Norvin Healthcare Properties recently gained a foothold in the Austin, Texas, market by purchasing the 60,000 square foot, three-story Central Texas Rehabilitation Hospital (CTRH) from an affiliate of Dallas-based Prevarian Hospital Partners. The price was $32.9 […]
Inpatient Projects: More Inpatient Project News
Dignity Health recently started construction on its future 24-bed, $44 million hospital in Glendale, Ariz. The new hospital, to be called St. Joseph’s Westgate Medical Center, is under way on a 35-acre tract near Loop 101 and Glendale Avenue, in the West Valley area of Greater Phoenix. The hospital is scheduled to open in early […]
Inpatient Projects: Finally, downscaled Shriners moving forward in St. Louis
ST. LOUIS – After years of setbacks, Shriners Hospital for Children in St. Louis has a date set for a groundbreaking for a new replacement hospital: March 20. The $47 million replacement facility will be constructed at 4400 Clayton Ave. on the campus of the Washington University School of Medicine on the large campus of […]
Inpatient Projects: Work beings for $55 million Permian Regional Medical Center in Andrews, Texas
ANDREWS, Texas – Work started in recent weeks on a new replacement for Permian Regional Medical Center (PRMC) in Andrews. The future $55 million hospital will have 34 beds, a wellness center and physician clinic space and offices. The 200,000 square foot facility, which will be built in phases and completed in 2016, will be […]
Inpatient Projects: Commercial spaces to pay for hospital
By Dan Emerson Like many aging hospitals throughout the country, century-old St. Anthony in Chicago has plans for a new replacement campus a short distance from its existing facility outside of downtown. Yet, what St. Anthony Ministries, the holding company that owns the hospital, has planned is, perhaps, unlike any medical complex/planned community in the […]
Outpatient Projects: More Outpatient Projects
An affiliation between Suncoast Medical Clinic, which has five locations in and around St. Petersburg, Fla., and St. Anthony’s Hospital has risen to a higher level with the completion of a new outpatient center. That $22 million facility, which recently opened on the campus of St. Anthony’s in St. Petersburg, is the new main campus […]
Outpatient Projects: Major Minneapolis hospital venturing west with outpatient project
MINNETONKA, Minn. – Officials with the Hennepin County Medical Center (HCMC) in downtown Minneapolis have come to realize that patients from the suburbs would rather not venture into the city to receive medical care. In fact, they’ve learned that the dislike is especially acute for people living west of Highway 100, just three miles or […]
Outpatient Projects: HSA PrimeCare breaks ground for surgery center in northern Chicago suburbs
VERNON HILLS, Ill. – HSA PrimeCare broke ground in recent weeks for a 15,000 square foot multi-specialty surgery center at 240 Center Dr. in Vernon Hills, in the northern Chicago suburbs.
Outpatient Projects: Old hotel will make way for $34 million Mercy outpatient facility in Branson, Mo
BRANSON, Mo. – Chesterfield, Mo.-based Mercy is certainly a well-known health system in Branson. However, most of the city’s residents need to drive about 35 miles to the north to receive Mercy’s services at its hospital in Springfield, Mo. Starting in 2015, however, that will no longer be the case. Mercy has acquired an abandoned […]
Outpatient Projects: Rendina Cos. developing MOB in S.C.
By John B. Mugford The one-stop shopping concept for outpatient healthcare facilities is coming to the Bluffton and Hilton Head Island area of South Carolina. In recent weeks, Jupiter, Fla.-based Rendina Cos., a healthcare real estate and development firm, broke ground in Bluffton on a $16 million, 60,000 square foot outpatient facility that will offer […]
Hot Property: On-Campus Portfolio Offered in Tenn.
Four MOBs are on the campuses of three Tennova Healthcare system hospitals Name: Tennova MOB Portfolio Number of Buildings: 4 Locations: Tennessee cities of Knoxville, Jefferson City and Powell (2) Size: 204,000 square feet Asking Price: $53.4 million Price Per Square Foot: $261.7 Cap Rate: Not disclosed Years Completed: 2003-07 Annual NOI: Not disclosed Seller: […]
Transactions: More HRE Transactions
With the signing of a new tenant to a 20,000 square foot, 10-year lease, Nashville, Tenn.-based Healthcare Realty Trust (NYSE: HR) has taken Hale Pawa’a, the nine-story, 124,000 square foot MOB it developed in Honolulu in 2010, closer to full occupancy. As of October, reports indicated that the MOB in the heart of Honolulu was […]
Transactions: 1031 Buyers Pay $14.1 Million for MOB in Charlotte Suburb
MINT HILL, N.C. – A New York-based 1031 exchange investment group recently paid $14.1 million for a 42,300 square foot medical facility in Mint Hill, a Charlotte, N.C., suburb. That price works out to about $334 PSF. According to news reports, the seller was the developer of the building, Mint Hill-based Sageworth Properties LLC. Glen […]
Transactions: JV partnership lands MOB for $19.25 million in Claremont, Calif.
CLAREMONT, Calif. – An off-campus MOB in Claremont that is anchored by a hospital in a nearby town traded hands in recent days, fetching a price of $19.25 million, or $393 PSF. The building has 48,984 square feet of space, is 89 percent leased and anchored by nearby Pomona Valley Hospital Medical Center. The seller, […]