December 2013 PDF
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Archives: December 2013
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Cover Story: Buyer gets a warm reception
Physician group welcomes $141 million sale-leaseback By John B. Mugford Medical group tenant was big driver in six-building MOB portfolio deal Since its founding 17 years ago, a physicians’ group in the mid-Hudson Valley area of New York has built itself into one of the leading independent, multi-specialty physician practices in the United States. […]
Cover Story: Medical group tenant was big driver in six-building MOB portfolio deal
Since its founding 17 years ago, a physicians’ group in the mid-Hudson Valley area of New York has built itself into one of the leading independent, multi-specialty physician practices in the United States. “As (one healthcare real estate consultant) always tells me, a provider’s market share in its respective area is the key to its […]
Feature Story: Finalists: Best New MOB (100,000 SF or More)
Akron General Health and Wellness Center, Green, Ohio Developer: Rendina Cos. Akron General Health System wanted to increase its presence in the growing communities south of Akron and fast-track the development of a health and wellness center near a new freestanding emergency department (FED). Rendina began site work as the design and permit processes progressed […]
Feature Story: 2013 HREI™ Insights Awards™
Recognizing the finest in HRE people and projects Of all the initiatives we have undertaken since we launched Healthcare Real Estate Insights™ nearly 11 years ago, the HREI Insights Awards™ is perhaps the only one that has generated nothing but positive feedback. Since we unveiled the only national awards totally dedicated to recognizing excellence in […]
Feature Story: Finalists: Best New MOB (50,000-99,999 SF)
Harker Heights Medical Pavilion, Harker Heights, Texas Developer: Rendina Cos. Rendina Cos. delivered a successful solution for Seton Family Healthcare and LHP Hospital Group with a $10.9 million, three-story, 61,064 square foot full-service MOB on the new Seton Medical Center campus. The MOB provides the two clients with a competitive edge and a community asset […]
Feature Story: Finalists: Best New MOB (25,000-49,999 SF)
Crystal Medical Center, Crystal, Minn. Developer: The Davis Group Northwest Family Physicians needed a way to continue to serve suburban Minneapolis’ predominantly senior market of Crystal with its flagship clinic, but its existing landlord was unable to meet its requirements. Initially located at a mostly vacant retail mall, the client desired an alternative location within […]
Feature Story: Finalists: Lifetime Achievement Award
James O. Meadows Meadows & Ohly The year was 1972. HRE was not a recognized real estate asset class. Yet James O. Meadows led the development of Meadows & Ohly’s first MOB. With an innovative and entrepreneurial approach, Mr. Meadows and his partner Carl Ohly pioneered the limited partnership physician ownership model in multi-tenant buildings […]
Feature Story: Finalist: Best New MOB (Less than 25,000 SF)
DaVita Stevens Creek, San Jose, Calif. Developer: Meridian Property Co. Provider DaVita Healthcare Partners Inc. wanted to open a new facility in San Jose to satisfy unmet demand for kidney care. Unable to find an existing property suitable for a retrofit, DaVita turned to Meridian Property Co. to develop a new $4.1 million, 9,075 square […]
Feature Story: Finalists: HRE Executives of the Year
Christopher Bodnar and Lee Asher, CBRE The sales numbers are quite prolific for the team of Chris Bodnar and Lee Asher, co-leaders of CBRE Group Inc.’s national Healthcare Capital Markets Group. The two have teamed on the disposition of mo re than 6.6 million square feet of medical assets, and, during a recent 24-month span, […]
Feature Story: Finalists: Best Post-Acute/Senior Living
Heartis Conroe, Conroe, Texas Developer: Caddis Partners One thing became clear as Caddis Partners and its operating partner Good Neighbor Care studied the Conroe market in 2012: there was a strong need for more memory care services in the growing city north of Houston. Developing the facility under its new Heartis brand, Caddis opened the […]
Feature Story: Finalist: Best Inpatient Facility
Central Texas Rehabilitation Hospital, Austin, Texas Developer: Prevarian Hospital Partners LP For three years, a development firm tried but did not succeed in landing a site for a new Central Texas Rehabilitation Hospital in Austin. The client, a partnership of RehabCare Group and Seton Family of Hospitals, wanted to move the 20-bed unit out of […]
Hot Property: Interest high in Boston-area MOB
The Musculoskeletal Center in Peabody, Mass., is 93.8 percent occupied Name: The Musculoskeletal Center Address: 4 Centennial Drive City: Peabody, Mass. Number of buildings: 1 Square footage: 38,188 Date completed: 1976 Date redeveloped: 2003 Occupancy: 93.8% Average PSF rent: $23.66/NNN First year NOI: $879,276 Suggested price: $12.295 million Brokerage firms: MANSARD, Coppola Properties PEABODY, […]
Transactions: MedSouth Healthcare Properties LLC acquires Myrtle Beach, S.C., MOB
MYRTLE BEACH, S.C. – MedSouth Healthcare Properties LLC, a relatively new company focused on acquiring healthcare properties in the Southeast, recently purchased an MOB in Myrtle Beach in a JV with Sterling Fox Group LLC. Both MedSouth and Sterling Fox Group are based in Charlotte, N.C. The JV acquired Market Commons Medical, a 20,000 square […]
