July 2014 PDF
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Archives: July 2014
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Cover Story: Development on the mend
Rising demand for outpatient space is fueling the rebound By John B. Mugford As Philip J. “PJ” Camp puts it, healthcare development “fell off a cliff” back in 2009. That cliff, as it’s turned out, has been quite difficult to re-climb, as the number of annual healthcare real estate (HRE) projects has remained relatively flat […]
Transactions: New hospital owner acquires MOB across the street in Downey, Calif.
DOWNEY, Calif. – On the heels of acquiring the former Downey Regional Medical Center, PIH Health recently purchased an MOB across the street from what is now known as PIH Health Hospital–Downey. The not-for-profit health system, which was founded in 1959 and is based in Whittier, Calif., paid $11.3 million for the 56,121 square foot […]
Transactions: ARC Healthcare Trust II continues to make buys, nears closing of offering
NEW YORK – Like its predecessor with a very similar name, ARC Healthcare Trust II Inc. is off to a fast start in the healthcare real estate (HRE) sector. So fast, in fact, that the non-traded real estate investment trust (REIT) is already nearing the possible closing of its public stock offering, which began in […]
Transactions: DOC REIT keeps on making buys
Recent acquisitions push Physicians Realty Trust’s portfolio above $500 million By John B. Mugford At the time of its initial public offering a year ago this month, Milwaukee-based Physicians Realty Trust (NYSE: DOC) owned a portfolio of medical properties with a total purchase-price value of about $124 million.
Outpatient Projects: Downtown hospital bolsters campus
Landmark developing MOB for Truman Medical Centers in Kansas City, Mo. By John B. Mugford Not all new medical office buildings (MOBs) are being built in suburban retail areas away from a health system’s main hospital campus. Truman Medical Centers (TMC) in Kansas City, Mo., in fact, has decided to add a $29 million outpatient […]
Outpatient Projects: NexCore to develop, own N.D. MOB
Firm is developing 67,000 square foot facility for St. Alexius Medical Center By John B. Mugford As towns in northwestern North Dakota continue to grow amid the oil boom, healthcare providers are feeling the need to expand their offerings to keep up with demand. One such place is Minot, N.D., a city that saw only […]
Outpatient Projects: UH system plans MOB, FED in far southern Cleveland suburbs
BROADVIEW HEIGHTS, Ohio – Cleveland-based University Hospitals (UH) plans to break ground later this year on a $28 million, outpatient health center with a freestanding emergency department (FED) in Broadview Heights, in Cleveland’s far southern suburbs. The proposed 52,000 square foot, $28 million ambulatory health center and FED is slated for a 6-acre site near […]
Outpatient Projects: $50 million virtual medical facility started for Mercy, near St. Louis
CHESTERFIELD, MO. – In the 1980 movie spoof “Airplane,” the late comedic actor Leslie Nielsen, while playing Dr. Shirley Rumack, had an interesting exchange about healthcare real estate (HRE) with flight attendant Elaine Dickinson. Rumack: “You’d better tell the captain we’ve got to land as soon as we can. This woman has to be gotten […]
Outpatient Projects: More Outpatient News
■ A 40,000 square foot facility is underway along Highway 280 in Birmingham, Ala., for MedHelp Clinics, a 33-year-old family medicine and urgent care practice that currently has three locations in the area. The new facility, scheduled to open in spring 2015, will replace another MedHelp clinic nearby. The development team includes local firms; Brasfield […]
Inpatient Projects: Kaiser opens new flagship hospital
New $1.3 billion Oakland Medical Center replaces system’s original facility By John B. Mugford For more than 70 years, the Kaiser Permanente healthcare system and insurance provider has been delivering care at its longtime flagship hospital at Broadway and MacArthur Boulevard, just blocks outside of downtown Oakland, Calif. Even though the old Oakland Medical Center […]
Inpatient Projects: Hospital plans $300M replacement
St. Elizabeth’s to relocate to 114-acre campus in O’Fallon, Ill., east of St. Louis By John B. Mugford After 60 years of operating a hospital in the heart of Belleville, Ill., just outside of St. Louis, officials with St. Elizabeth’s Hospital and Hospital Sisters Health System recently announced plans for a replacement facility they say […]
Inpatient Projects: Baptist enters new turf in Arkansas, breaking ground on $130M hospital
CONWAY, Ark. – Even though officials with the only existing hospital in Conway contend that there is no need for more inpatient beds in the city, Little Rock, Ark.-based Baptist Health recently broke ground for a new acute care facility on the outskirts of town. Baptist Health officials were joined by Arkansas Gov. Mike Beebe, […]
Inpatient Projects: Ovieda, Fla., to get its first hospital, which is to be built at site of FED
OVIEDO, Fla. – A fairly common strategy being employed by health systems looking to enter new markets involves developing new freestanding emergency departments (FEDs) in anticipation of someday building new hospitals at the same sites. Central Florida Regional Hospital in Sanford, Fla., which is part of Nashville, Tenn.-based HCA Holdings Inc. (NYSE: HCA), is using […]