Outpatient Projects: Banner Health plans to repurpose strip mall
Aging retail center in Mesa, Ariz., to become a 101,881 square foot ‘one-stop’ medical destination By John B. Mugford As the economy sputtered in recent years, the practice of repurposing vacant or underutilized commercial buildings into medical facilities became a hot trend. The trend seems to have slowed a bit these days as much of […]
Outpatient Projects: Big owner of MOBs has plans for another near San Jose hospital
SAN JOSE, Calif. – A local company that owns 19 MOBs in an area adjacent to Good Samaritan Hospital in San Jose is having some difficulty putting up number 20. Samaritan Medical Center, a local firm that is not affiliated with the hospital, has submitted a request to the city for a rezoning of a […]
Outpatient Projects: NexCore breaks ground for new MOB
New facility will be on the campus of the Holy Cross Germantown (Md.) Hospital By John B. Mugford Denver-based NexCore Group LLC has broken ground on a 79,491 square foot MOB that it will own on the new Holy Cross Health hospital campus in Germantown, Md., a populous yet unincorporated municipality about 25 miles northeast […]
Inpatient Projects: Site set for U.P. replacement
New $280 million campus planned in Marquette, Mich. By Dan Larson After months of speculation, Duke LifePoint has zeroed in on a location for its planned $280 million replacement hospital in Marquette, the largest city on Michigan’s Upper Peninsula. The Marquette City Commission recently voted to sell a 37-acre property to the provider for $4 […]
Inpatient Projects: TriStar Centennial finds opposition to its $96.2M joint center in Nashville
NASHVILLE, TENN. – TriStar Centennial Medical Center’s plan for a $96.2 million expansion hasn’t gone unnoticed, most notably by a competing hospital in Nashville. While TriStar Centennial, part of Nashville-based HCA Holdings Inc., recently submitted an application for a Certificate of Need (CON) to the Tennessee Health Services and Development Agency, competitor Saint Thomas Midtown […]
Inpatient Projects: Alabama county seeks state approval for a $58.4 million replacement hospital
CLANTON, Ala. – After two years of planning, Chilton County in Central Alabama is making strides toward getting a new, desperately needed hospital. The Chilton County Healthcare Authority recently submitted a Certificate of Need (CON) to the state for a new 30-bed, $58.4 million hospital. The proposed facility would fill a dire need in the […]
Industry Pulse: Caddis Shortens Name, Acquires On-Campus MOB
Dallas-based Caddis Partners LLC has officially shortened its name to simply Caddis. “We’re not the same firm we were when we started in 2008,” says Caddis CEO Jason Signor. “We’ve grown considerably not only in terms of employees, but in geographic reach, assets under management and into new healthcare product types.”
Industry Pulse: Hammes Heads West for MOB Acquisition
Midwestern company acquires asset as it gears up new fund Brookfield, Wis.-based Hammes Co., a well-known as a healthcare development and advisory firm, recently acquired a medical office building (MOB) near Olympia, Wash., for $10 million, according to data from RCA. The asset, a 27,495 square foot facility at 2555 Marvin Road N.E. in Lacey, […]
Editor’s Letter: Swish! MOBs are hot
High prices are compelling owners to cash in Dear Reader: When a basketball player has a fantastic game, scoring plenty of points, grabbing bunches of rebounds and dishing out myriad assists, he or she is said to have “filled up the stat sheet.” In the second half of 2014, it’s the healthcare real estate (HRE) […]
Post-Acute & Senior Living: LCB takes its brand to Vermont
The senior housing operator purchases two properties for $82.4 million By Dan Larson The small state of Vermont recently experienced one of the largest private transactions in its history, courtesy of the red-hot seniors housing market. Norwood, Mass.-based LCB Senior Living LLC acquired two properties in the Green Mountain State, paying a total of $82.4 […]
Post-Acute & Senior Living: ARC Healthcare Trust II buys 12 senior housing properties in Iowa
IOWA – New York-based ARC Healthcare Trust II Inc. continues to add to its growing portfolio of healthcare-related facilities. The non-traded real estate investment trust (REIT) recently announced the acquisition of 12 SunnyBrook senior housing properties in a number of Iowa cities for $164.2 million.
Post-Acute & Senior Living: Harrison Street acquires 11 senior housing properties, partners with Brightview
CHICAGO – Harrison Street Real Estate Capital (HSRE) of Chicago recently announced the $520 million acquisition of 11 senior housing properties from Baltimore-based Shelter Group’s Brightview Senior Living. The properties are located in Baltimore, Boston, Philadelphia, Staunton, Va., and Newport, R.I. “This investment complements our existing portfolio and highlights our firm’s various cost of capital […]
REIT Report: Carter Validus keeps on buying
Non-traded REIT continues to rack up healthcare real estate purchases in Q3 By John B. Mugford These are busy times for the healthcare real estate (HRE) investment arms of Atlanta-based Carter, the long-time commercial real estate investor, developer and advisory firm. So busy, in fact, that the firm recently launched its second unlisted real estate […]
Capital Markets: Financing ‘trophy’ MOB assets
It’s important to consider a lender’s expertise among other factors By Erik Tellefson The definition of a “trophy” medical office building (MOB) asset is relatively hard to pin down. But real estate professionals typically consider trophy assets as MOBs with large square footage (over 250,000 square feet), strong tenancy, solid space usage, and striking visual […]
Companies & People: New HRE investor makes first deals
Nashville-based MedEquities Realty Trust starts with a five-property portfolio By Dan Larson A new healthcare real estate investment company is joining the ever-expanding pool of healthcare real estate (HRE) investors and is making its first big dip into the market. Nashville, Tenn.-based MedEquities Realty Trust Inc. recently announced that it has completed an initial private […]