Inpatient Projects: Hospital in Dubuque, Iowa, to get $42 million, three-story inpatient expansion
DUBUQUE, Iowa – Officials with UnityPoint Health–Finley Hospital recently announced plans for an expansion designed to consolidate and enhance the hospital’s heart care, surgery and emergency capabilities. The proposed 70,000 square foot, three-story expansion would be constructed on the northwest side of the hospital, near Grandview Avenue in the heart of Dubuque, a city that […]
Inpatient Projects: Bend, Ore., hospital to start $22 million renovation of 5-story tower in the fall
BEND, Ore. – St. Charles Health System officials recently announced that they expect to start a $22 million renovation at St. Charles Bend this fall, remodeling most of the hospital’s five-story patient and nursing areas. Funding for the project would come from $75 million in bond sales that the hospital secured earlier this year in […]
Post-Acute & Senior Living: New CCRC gets $140M in financing
State-backed bond sale might spur more not-for-profit CCRCs in California By Murray W. Wolf It isn’t easy to develop a continuing care retirement community (CCRC) in California. Land and construction costs are above the national average, the project approval process is notoriously difficult, and senior living facilities are highly regulated in the state. CCRC development […]
Post-Acute & Senior Living: Newcastle Investment completes acquisition of $186 million portfolio
NEW YORK – Newcastle Investment Corp. (NYSE: NCT) announced June 30 that it has completed the acquisition of six senior housing communities for $186 million, not including transaction costs. The rental CCRCs, all located in Texas, total 1,265 beds.
Post-Acute & Senior Living: Philadelphia Archdiocese agrees to sell senior living communities for $145 million
PHILADELPHIA – The Roman Catholic Archdiocese of Philadelphia announced June 30 that it has agreed to sell seven senior living communities to a for-profit management group for $145 million. The properties are located in Philadelphia, as well as Chester, Delaware and Montgomery counties of Pennsylvania.
Post-Acute & Senior Living: Chartwell Retirement agrees to sell ‘non-core’ senior portfolio for $136 million
MISSISSAUGA, Ontario – Chartwell Retirement Residences announced June 18 that it agreed sell four “non-core” senior living communities totaling 827 suites for $136.1 million. The assets are in Alabama, Michigan, Oklahoma and Tennessee, and the buyer is a joint venture between Focus Healthcare Partners and Garrison Street Partners.
Post-Acute & Senior Living: Q2 assisted living growth rate of 3.1 percent was fastest since at least 2007
ANNAPOLIS, Md. – New construction of assisted living facilities during Q2 grew at the fastest rate recorded since analysts started keeping track seven years ago. The inventory of assisted living facilities grew by 3.1 percent last quarter, according to a July 11 news release from the National Investment Center for the Seniors Housing & Care […]
Post-Acute & Senior Living: More Post-Acute and Senior Living News
■ Fourteen investment funds affiliated with Fortress Investment Group on June 2 sold almost 17.6 million shares of Brookdale Senior Living (NYSE: BKD) stock, according to a recent U.S. Securities and Exchange Commission (SEC) filing. New York-based Fortress, a major shareholder since Brentwood, Tenn.-based Brookdale’s initial public offering (IPO) in late 2005, sold at an […]
Industry Pulse: On The Record: Paul N. Orloff MD
Do independent physicians matter in healthcare real estate anymore? “Why am I so important as a solo practitioner? In a lot of senses I think I’m living in Manhattan in one of the last lands of the dinosaurs. Indeed, maybe I am a dinosaur. But what I think is we’re going to survive for a […]
Industry Pulse: Northstar is Likely Buyer of G-A HC REIT
Potential $4 billion transaction is expected to close by Q4 Just before press time, Healthcare Real Estate Insights™ learned that NorthStar Realty Finance Corp. (NYSE: NRF), whose healthcare activities are led by James F. “Jay” Flaherty, the former CEO of HCP Inc. (NYSE: HCP), plans to acquire Irving, Calif.-based Griffin-American Healthcare REIT II, an unlisted […]
Industry Pulse: New Healthcare Resorts Blend Health, Hospitality
Firm has a potential $1.4 billion of projects in the pipeline, says partner Health Care REIT A new, or perhaps hybrid, category of senior housing/healthcare real estate (HRE) property is appearing on the scene. Combining rehabilitative care, assisted living services and long-term care into a senior living facility that includes “spa-like” amenities is a property […]
Editor’s Letter: It’s Awards Season
2014 HREI Insights Awards™ entries now open Dear Reader: Of all the things we’ve done here at Healthcare Real Estate Insights™ during our 11-year history, we’re perhaps most proud of the launching of the annual HREI Insights Awards™ program, which we started in 2013. As we said then and reiterate now, the healthcare real estate […]
Industry Pulse: Northstar is Likely Buyer of G-A HC REIT
Potential $4 billion transaction is expected to close by Q4 Just before press time, Healthcare Real Estate Insights™ learned that NorthStar Realty Finance Corp. (NYSE: NRF), whose healthcare activities are led by James F. “Jay” Flaherty, the former CEO of HCP Inc. (NYSE: HCP), plans to acquire Irving, Calif.-based Griffin-American Healthcare REIT II, an unlisted […]
REIT Report: New REIT looks to grow, diversify
Spin-off firm CareTrust has its eye on new tenants and regions, perhaps MOBs By John B. Mugford The healthcare real estate sector’s newest REIT is really not all that new, at least when it comes to being involved in senior housing facilities. However, even those involved in medical office buildings (MOBs) might want to become […]
Companies & People: JLL is marketing several offerings
Firm’s healthcare brokers also plan to put several other deals on the market By John B. Mugford Three medical office building (MOB) deals are currently on the market from the Healthcare Capital Markets Group at Jones Lang LaSalle (NYSE: JLL), including one that hit the market just recently. For one of the offerings, JLL has […]