Inpatient Projects: $120 million, 5-story, 200,000 s.f. tower underway at hospital in Honolulu
HONOLULU – Work has started on a new $120 million, 200,000 square foot hospital tower at the Kapiolani Medical Center for Women & Children in Honolulu that will also house space to train a new generation of healthcare professionals.
Inpatient Projects: Riverside, Calif., hospital gains go ahead for 200 beds as part of $315M expansion
RIVERSIDE, Calif. – Riverside Community Hospital will add more than 200 beds, build two new towers, add parking and renovate old buildings over the next 30 years, under a plan recently approved by the Riverside City Council.
Post-Acute & Senior Living: Activity picking up in CCRC space
New, expanded and renovated communities suggest market might be rebounding By Murray W. Wolf The continuing care retirement community (CCRC) was one of the hardest hit healthcare real estate (HRE) product types during and after the housing crash, financial crisis and Great Recession. Many seniors wanted to move to CCRCs at that time but were […]
Post-Acute & Senior Living: More Post-Acute & Senior Living News
Institutional Property Advisors (IPA), a brokerage division of Marcus & Millichap, says it recently arranged the $20.5 million sale of the 240-bed Sunnyview Nursing and Rehabilitation Center nursing home in Butler, Pa. IPA Senior Director Joshua Jandris, Executive Director Mark Myers and Associate Charles Hilding represented the seller, Butler County, Pa. , along with Matthew […]
Post-Acute & Senior Living: Ventas Inc. agrees to pay $900M for 29 Canadian independent living assets
CHICAGO – You wouldn’t expect a $900 million acquisition to be upstaged by another deal – especially one revealed the same day by the same company. But that was arguably the case June 2 when Ventas Inc. (NYSE: VTR) announced an agreement to acquire 29 Canadian senior living communities from Holiday Retirement.
REIT Report: Healthcare REITs outperforming S&P
The sector has delivered a total return of 18.7% compared with 5% for the 500 By Murray W. Wolf Last year was poor one for healthcare real estate investment trusts (REITs) as total returns declined 7 percent while the S&P 500 Total Returns Index soared 32 percent. Ouch.
Editor’s Letter: Thanks for noticing
HRE is getting more media coverage Dear Reader: Back in 2000, one of the staples of the HRE sector – the medical office building (MOB) – was not even on the radar screens of most commercial real estate investors. Today, MOBs and the HRE sector have not only emerged from the footnotes of general office, […]
Industry Pulse: HRE Funds Raking in Investment Capital
Investment funds are snapping up HRE assets like this MOB in Foster City, Calif. Photo courtesy of Swift Real Estate Partners Pension funds like this sector. HRE professionals and observers keep hearing about all of the new equity funds and capital sources that are targeting healthcare assets. One example is a new fund by longstanding […]
Industry Pulse: On the Record: “What impact are employed physicians having on development?”
We’re seeing the five-year window of acquiring physician practices roll to the point where hospitals are wanting to aggregate those practices together in larger buildings in ambulatory settings. So it’s common now to look at a 50,000 or 60,000 square foot building where the hospital is bringing in all of these physicians … it really […]
Industry Pulse: Construction Booming for HRE in the Northeast
One of the biggest HRE projects in the Northeast region is the $450 million, 11 -story Stamford (Conn.) Hospital replacement facility. Rendering courtesy of Revista 66 projects totaling $7.9 million and 8.9 million square feet are underway or planned. If the Northeast region is any indication, this might be a boom time for healthcare real estate […]
Companies & People: Recent purchases, including medical, push Carter Validus’ portfolio above $1.4 billion
TAMPA, Fla. – Recent acquisitions have propelled Tampa-based Carter Validus Mission Critical REIT Inc. to reach a new milestone for the value, based on purchase price, of its portfolio. That value now tops $1.4 billion.
Companies & People: Developer Rendina starts MOB, surgery center for orthopedic practice in S.C.
MURRELLS INLET, S.C. – Jupiter, Fla.-based Rendina Healthcare Real Estate says it has broken ground for a new project in Murrells Inlet, a 23,000 square foot MOB with a surgery center. The facility is a new project for Carolina Orthopaedic Specialists and the Coastal Surgery Center. It is being built on a 2-acre site about […]
Companies & People: Cornerstone turns building around in Carmel, Ind., bringing occupancy to 100%
CARMEL, Ind. – Indianapolis-based Cornerstone Cos. has succeeded on two fronts recently.
Companies & People: Meridian lands major tenant to fill remaining space at its MOB in Rohnert Park, Calif.
ROHNERT PARK, Calif. – When Meridian Property Co. acquired a 69,000 square foot MOB in Rohnert Park, Calif., earlier this year, the company referred to the transaction as a “value-add” opportunity.
Companies & People: New HRE advisory firm going strong
Investment banking firm Brown Gibbons Lang & Co. starts real estate group By John B. Mugford Add a new name to the list of firms serving the healthcare real estate (HRE) sector, as Cleveland-based Brown Gibbons Lang & Co. (BGL), a middle-market investment bank, recently launched a new real estate group that includes a healthcare […]
