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Transactions: HTA grabs MOBs along East Coast

Transactions: HTA grabs MOBs along East Coast

By John B. Mugford Portfolios are the rare gems in today’s healthcare real estate (HRE) investment arena, where available, attractive medical office buildings (MOBs) remain in short supply compared to the amount of capital that would-be buyers desperately want to place.

Transactions: Flagship-Drake joint venture acquires FED and MOB in Virginia for $19.55 million

FREDERICKSBURG, Va. – A joint venture composed of an investment fund operated by Charlotte, N.C.-based Brackett Flagship Properties and New York-based Drake Real Estate Partners recently acquired a health system’s key off-campus property in Fredericksburg, about 45 miles south of Washington, D.C.

Transactions: More HRE Transactions

Crossroads Development Partners LLC of Schaumburg, Ill., recently led a venture to acquire a two-building, 53,000 square foot, Class B MOB asset in Hoffman Estates, Ill., for $1.2 million, or about $23 PSF. The Medcoa Professional Complex at 990 to 1000 Grand Canyon Parkway was acquired from an affiliate of Boston-based Admirals Bank, which took […]

One of the two physician-owned buildings being marketed by JLL in the Arlington Orthopedic Portfolio is this newly opened building in Mansfield, Texas. Photo courtesy Jones Lang LaSalle

Hot Property: Ortho group monetizing portfolio

Two facilities comprise portfolio to be net leased to Arlington, Texas, group Name: Arlington Orthopedic Portfolio Cities: Arlington and Mansfield, Texas Number of buildings: 2 Total square footage: 49,660 Occupancy: 100% Tenant: Arlington Orthopedic Associates Seller: Arlington Orthopedic Associates Brokers: Daniel Turley, Mindy Berman and Steven Leathers, Jones Lang LaSalle

CNL’s $76 million Houston Orthopedic & Spine Hospital campus acquisition includes a four-story, 126,946 square foot single-tenant specialty surgical hospital and a four-story, 99,768 square foot, multi-tenant, Class A MOB. Photos courtesy of Colliers International

Transactions: CNL buys Houston assets from HCN

CNL’s $76 million Houston Orthopedic & Spine Hospital campus acquisition includes a four-story, 126,946 square foot single-tenant specialty surgical hospital and a four-story, 99,768 square foot, multi-tenant, Class A MOB. Photos courtesy of Colliers International Firm acquires specialty hospital, medical office for $76M from Health Care REIT By John B. Mugford Orlando, Fla.-based CNL Healthcare […]

Seavest Healthcare Properties and Anchor Health Properties are developing the two-story, 72,000 square foot Penn Medicine Southern Chester County medical office building in Jennersville, Pa. Completion is slated for spring 2015. Rendering courtesy of Seavest Healthcare Properties

Outpatient Projects: Seavest, Anchor start new MOB

  Partners collaborating on 72,000 s.f. medical “destination” near Philidelphia, PA By John B. Mugford As the population continues to grow in southern Chester County, Pa., two firms well-known in the healthcare real estate (HRE) sector are embarking on a project that they believe will become a medical “destination.”

Outpatient Projects: LandPlan plans to develop 51,000 s.f. MOB and 18262 s.f. ASC in Fort Worth, Texas

FORT WORTH, Texas – LandPlan Development of Frisco, Texas, recently announced that it plans to develop a three-story, 51,000 square foot MOB with an 18,262 square foot ASC in Fort Worth.

Outpatient Projects: Local developer proceeds with small spec MOB across from Connecticut hospital

DANBURY, Conn. – Perhaps speculative MOB development is on the comeback trail. Well, maybe not on a large scale like before the Great Recession.

Outpatient Projects: Irgens breaks ground for 26,000 s.f. on-campus MOB in west central Wisconsin

CHIPPEWA FALLS, Wis. – Irgens of Milwaukee recently broke ground for a new 26,000 square foot MOB on the campus of St. Joseph’s Hospital in Chippewa Falls, a city of about 15,000 people in the west central part of the state.

Outpatient Projects: Mercy Medical Center plans $15 million cancer care center expansion

SPRINGFIELD, Mass. – Sisters of Providence Health System plans to start work later this spring on a $15 million, two-story, 28,800 square foot expansion of the Sister Mary Caritas Cancer Care Center at its Mercy Medical Center campus in Springfield.

Outpatient Projects: Ranier Medical takes over development of MOB in Waxahachie, Texas

WAXAHACHIE, Texas – A switch in developers was approved by the Waxahachie City Council in recent months in order to reduce rents at a future 72,184 square foot, $11 million MOB underway in the city.

Inpatient Projects: Stamford (Conn.) Hospital starts work on $450 million replacement facility

STAMFORD, Conn. – Construction of the new replacement $450 million, 600,000 square foot Stamford Hospital — the largest construction project in the hospital’s 117-year history — is underway.

Inpatient Projects: Dispute between VA and contractor adds to delay of Colorado project

AURORA, Colo. – A project aimed at helping veterans garner healthcare services in the Denver area recently had its day in federal court. The Department of Veterans Affairs (VA) hospital construction project in Aurora has been plagued with delays because of design changes, cost overruns and a heated dispute with construction company Kiewet-Turner.

Inpatient Projects: St. Vincent’s to add beds as demand increases at Jacksonville hospital

JACKSONVILLE, Fla. – The parent company of St. Vincent’s Medical Center of Clay County has agreed to provide the initial seed capital required for a $24 million renovation of the hospital, according to a story in the Jacksonville Business Journal.

Houston Methodist health system recently announced plans for a new $328 million, 193-bed hospital in The Woodlands, Texas (above). The system also plans a 390-bed, $540 million replacement tower on its campus in the Texas Medical Center.
Rendering courtesy of Page Southerland Page Inc.

Inpatient Projects: More big plans unveiled in Houston

Latest announcement lifts local providers’ planned investment to $2 billion-plus By Connie M. McCaffrey Houston healthcare providers have announced about $2 billion in new projects in recent months. Houston Methodist last month raised the ante with another ambitious plan. On May 29, Methodist announced plans for a new $328 million, 470,000 square foot hospital campus […]