Inpatient Projects: Duluth, Minn.-based Essentia plans $80 million facilities expansion in Fargo, N.D.
FARGO, N.D. – Duluth, Minn.-based Essentia Health announced that it is planning $80 million in additions to its medical facilities in Fargo during the next three years. The biggest expansion is a 105,000 square foot, $50 million addition to its 105-bed Fargo South Tower.
Inpatient Projects: Medical University Hospital Authority plans new facility in Charleston, S.C.
CHARLESTON, S.C. – The Medical University Hospital Authority recently reviewed potential architectural and engineering firms that are bidding to help build the new $250 million to $300 million Medical University of South Carolina (MUSC) Children’s Hospital and Women’s Pavilion. The new facility, which will be built on the former Charleston Memorial Hospital campus at 171 […]
Inpatient Projects: Northwestern Lake Forest files plans for $378 million replacement hospital
LAKE FOREST, Ill. – Northwestern Lake Forest Hospital, a wholly owned entity of Chicago-based Northwestern Memorial Healthcare, has applied for a permit to build a $378 million, 470,000 square foot replacement hospital on its current campus at 660 N. Westmoreland Road in Lake Forest. The hospital recently won state approval to design the new hospital […]
Inpatient Projects: More Inpatient Project News
NortonHealthcare announced that despite inclement winter weather, renovations on Norton Suburban Hospital’s East Tower on Dutchman’s Lane in Louisville, Ky., are expected to be completed this summer. Louisville-based Norton is investing $51 million to add three stories on top of its current two-story ED. The health system also will spend about $38.7 million on other […]
Inpatient Projects: Ventura County approves bonds for $307 million medical center expansion
VENTURA, Calif. – The Ventura County Board of Supervisors last month approved the largest bond issue in the county’s history, with the bulk of the $360 million in bond proceeds earmarked for a $307 million addition to Ventura County Medical Center. The three-story, 232,000 square foot, 120-bed facility is slated for completion in 2017. The […]
Post-Acute & Senior Living: AEW makes $104 million acquisition of three Balfour senior communities
LOUISVILLE, Colo. – AEW Capital Management LP, which provides real estate investment management services to investors worldwide, announced last month that it has acquired a portfolio of three Class A senior living communities totaling 296 units from Balfour Senior Living in Louisville about 21 miles north of Denver. The transaction is valued at $104 million, […]
Post-Acute & Senior Living: CNL Healthcare acquires four senior housing communities for $88.3M
ORLANDO, Fla. – In more news from CNL, the healthcare REIT announced that it has acquired four senior housing communities totaling 457 units in Washington for about $88.3 million. The communities include 136 independent living residences, 297 assisted living units and 24 memory care units. The properties are Bridgewood at Four Seasons Retirement & Assisted […]
On the Record: Karen Torres
“What’s your perspective on the trend toward more physicians becoming hospital employees? “Everyone is talking about independent physician practices going away. Well, my recent experience has been that all of the phone calls I’ve been receiving are from independent physicians looking for space.” Karen Torres, Director of Real Estate, Hoag Memorial Presbyterian, Newport Beach, Calif., […]
Publisher’s Letter: Healthcare reform + 5
Musings on a half-decade of living with the PPACA Dear Reader: As I write these words, it is almost four years to the day since the Patient Protection and Affordable Care Act (PPACA) was signed into law: March 23, 2010. If you factor in about one year of Congressional debate prior to the passage of […]
Post-Acute & Senior Living: CNL to develop S.C. senior community
$35.3 million Wellmore of Tega Cay to include 152 units in six buildings By Connie M. McCaffrey CNL Healthcare Properties, a real estate investment trust (REIT) focused on senior housing and healthcare facilities, announced plans to invest about $35.3 million to develop a 152-unit senior housing community in Tega Cay, S.C. The community will include […]
Transactions: Washington campus fetches big PSF
Three-MOB complex in Puyallup sells for $40.2 million to Seattle real estate firm By John B. Mugford The average price paid per square foot for medical office buildings (MOBs) in 2013 was just under $230, according to statistics from real estate research firm Real Capital Analytics (RCA) Inc. Yet, it came as no surprise to […]
Industry Pulse: Los Angeles hospital market is ‘a mess’
L.A. has many small hospitals without distinct market niches. During a recent HRE conference in Los Angeles, the moderator of one of the panel discussions, a longtime healthcare real estate professional, made an observation about California’s larger metro markets.
Post-Acute & Senior Living: Caddis begins developing two Heartis senior living communities In Houston
HOUSTON – National healthcare real estate firm Caddis Partners LLC announced that it has begun construction on two 78-unit, approximately 63,000 square foot Heartis senior communities in the Houston markets of Cypress and Clear Lake. The communities, which will include 54 assisted living units and 24 memory care units, will be owned by Caddis. Eugene, […]
Industry Pulse: Demolish That Old Acute Care Hospital? Maybe Not
Something old. Something new. And a bridge. In this era of consolidation and ambulatory strategy, some acute care hospitals are being left behind. But what do you do with the old hospital building? That question that will probably keep popping up more and more in this post-healthcare reform era – and the bigger the old […]
REIT Report: Health Care REIT’s Chapman retires
Longtime CEO who led significant growth is succeeded by board member By John B. Mugford While Health Care REIT Inc. (NYSE: HCN) has been a big owner of real estate for four decades, it has bulked up its portfolio in the past five years like never before. Steering the way has been CEO George L. […]