Transactions: CNL making move into inpatient rehabilitation by purchasing five facilities
ORLANDO, Fla. – CNL Healthcare Properties’ first endeavor into owning inpatient rehabilitation facilities (IRFs) is certainly going to be a significant one. On May 13, the non-traded real estate investment trust (REIT) entered into purchase agreements to acquire three post-acute care rehabilitation hospitals for a total of $68 million in Oklahoma, Nevada and Indiana. The […]
Transactions: 2014 MOB sales off to a record start
By John B. Mugford After a record-setting year and fourth quarter (Q4) of 2013 for medical office building (MOB) sales, a letdown was certainly in the works to kick off 2014. And sure enough, the total MOB sales volume for Q1 fell 37 percent from the previous quarter, Q4 2013. But that doesn’t mean Q1 […]
Hot Property: New HCA-anchored FED being offered
Net-leased Richmond, Va., asset being marketed at less than replacement cost Name: HCA FED & Imaging Center Address: 9275 Chamberlayne Road City: Richmond, Va. Square feet: 22,000 Land size: 3.7 acres Occupancy: 100% Tenant: HCA Health Services of Virginia Lease term: 10 years starting in June Seller: Undisclosed developer Asking price: $8.8 million Total construction […]
Transactions: Texas Center for Athletes trades
Competitive bidding fetches $32.7M for San Antonio sports medicine complex By John B. Mugford With portfolios of medical office buildings (MOBs) seemingly in short supply, it was not surprising that significant interest was shown by a number of investors interested in a large medical facility in San Antonio’s 900-acre South Texas Medical Center complex. When […]
Transactions: Another buy for PRT
In more news from Physicians Realty Trust, the publicly traded REIT closed in April on the acquisition of the South Bend Orthopaedics facility at 14026 to 14134 Jackson Road in Mishawaka, Ind. The REIT paid $14.9 million for the two-story, 45,200 square foot facility, for a price per square foot (PSF) of $330, according to […]
Transactions: More HRE Transactions
MedSouth Healthcare Properties LLC and Sterling Fox Group LLC, both of Charlotte, N.C., recently made a JV acquisition of an MOB in the Medical Arts district of Greenville. The price was not disclosed for the 19,500 square foot, two-story facility across the street from Vidant Medical Center, the main acute care hospital for Greenville-based Vidant […]
Outpatient Projects: Novant plans $98.1 million heart, vascular and cancer facility in Charlotte,
N.C. CHARLOTTE, N.C. – Novant Health plans to develop a $98.1 million, six-story, 150,000 square foot outpatient heart and vascular and cancer facility in midtown Charlotte. The new facility is earmarked for a 2.8-acre site across from Novant Health Presbyterian Medical Center, at the intersection of Fifth Street and Hawthorne Lane. Winston-Salem, N.C.-based Novant got […]
Outpatient Projects: UMPC Lemieux project moves ahead
$70 million complex will include MOB and ice rinks for the Pittsburgh Penguins By Murray W. Wolf The Pittsburgh Penguins might have been eliminated from the 2014 National Hockey League (NHL) Stanley Cup playoffs, but the team still has something to look forward to. By mid-2015, the Penguins are scheduled to be able to move […]
Outpatient Projects: Medical to be part of mixed-use plan
ParkSquare in Aventura, Fla., would also include a 200-bed assisted living facility By Murray W. Wolf Aventura commissioners voted unanimously April 1 to approve conditional use permits clearing the way for ParkSquare Aventura, a 7.4-acre mixed-use development including a 10-story building featuring ground floor retail and six levels of parking, topped by three stories of […]
Outpatient Projects: Ryan Cos. USA Inc. plans MOBs in suburban Minneapolis, Milwaukee
MAPLE GROVE, Minn., and DELAFIELD, Wis. – The Maple Grove City Council voted unanimously April 7 to approve plans for the 41,800 square foot Grove Health West MOB. The developer, Minneapolis-based Ryan Cos. US Inc., says the facility is 52 percent pre-leased to tenants that include Twin Cities Orthopedics (TCO), a Golden Valley-based medical practice that bills […]
Outpatient Projects: More Outpatient Projects
Simone Healthcare Development Group, an affiliate of New York-based Simone Development Cos., announced in March that it has completed the redevelopment of 1436 Broadway in Hewlett, N.Y., a small suburb just east of JFK International Airport. The 13,000 square foot integrated healthcare facility is operated by Mount Sinai Five Towns Medical Group. Simone Healthcare Development […]
Inpatient Projects: Methodist Hospital project leads Omaha healthcare construction boom
OMAHA, Neb. – Construction is underway on a $90 million expansion of the surgery department at Methodist Hospital at 8303 Dodge St. in Omaha. The project will relocate cardiac services into one large area and expand the surgery department into space vacated by obstetrical and gynecological services, which relocated to Methodist Women’s Hospital in Omaha. […]
Inpatient Projects: OhioHealth adds $91 million to investment in MedCentral Hospitals in wake of merger
COLUMBUS, Ohio – OhioHealth, a Columbus, Ohio-based family of not-for-profit, faith-based hospitals, announced that it will invest an additional $91 million over its earlier announced investment for capital improvements to two hospitals — OhioHealth MedCentral Mansfield in Mansfield, Ohio, and OhioHealth MedCentral Shelby in Shelby, Ohio. OhioHealth and the MedCentral Health system merged in March, […]
Inpatient Projects: Methodist Health to build $118 million patient tower in Mansfield, Texas
MANSFIELD, Texas – Methodist Health System recently broke ground on a $118 million, 110,000 square foot patient tower that will be connected to the Methodist Mansfield Medical Center at 2700 E. Broad St. in Mansfield, Texas, about 33 miles southwest of Dallas. Levi Davis, chairman of the Methodist Health System board of directors, said the […]