Archives: October 2014
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October 2014 PDF
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Cover Story: Who are the largest owners of healthcare real estate?
Revista has compiled a list of the top 50, and the answers might surprise you By John B. Mugford Who are the largest individual owners of healthcare real estate (HRE) assets in the United States? As you pondered the question, the first organizations that popped into your mind might have been the largest publicly traded […]
Transactions: Harrison Street brings in $283M
Equity firm completes separate sales to Health Care REIT and CNL Healthcare By John B. Mugford Since its founding in the mid-2000s, Chicago-based Harrison Street Real Estate Capital has developed a successful formula for enhancing value in the properties it accumulates, holds and eventually sells in portfolios. The company accomplished such a strategy in recent […]
Transactions: CNL pays $47.9 million for MOBs in Glendale, Calif., and Massachusetts
ORLANDO, Fla. – In more news from CNL Healthcare Properties, the non-traded REIT recently made MOB acquisitions in Greater Boston and Glendale, Calif., paying a total of $47.9 million in two separate transactions. In Glendale, CNL acquired the Lee Hughes Medical Building, a 76,758 square foot MOB on the campus of the 500-bed Glendale Adventist […]
Transactions: Health Care REIT finds $200M deal
Firm acquires four-MOB portfolio in Southern California for more than $500 PSF By John B. Mugford The country’s second largest owner of healthcare real estate (HRE), Toledo, Ohio-based Health Care REIT (NYSE: HCN) recently found a deal to its liking in Southern California, picking up a portfolio of four healthcare properties with five facilities for […]
Outpatient Projects: Carter Validus to own Texas MOB
$20 million, 60,000 s.f. MOB under construction on campus of Victory hospital By John B. Mugford In today’s highly regulated, ever-consolidating healthcare sector, Texas looks to be the land of opportunity for privately owned, for-profit providers and companies. One of them is The Woodlands, Texas-based Victory Healthcare, which will soon have eight locations in the […]
Outpatient Projects: NexCore Group is developing and will own medical fitness facility in Ohio
ORANGE TOWNSHIP, Ohio – As part of an effort to focus on population health management, a Columbus, Ohio-based health system plans to open an integrated ambulatory care center in the suburbs that would offer fitness amenities alongside physician offices. Ground was broken in recent weeks on the $36.8 million MC Fitness & Health center in […]
Inpatient Projects: Vanderbilt gets okay for $118M plan
Tennessee grants Certificate of Need for project to add 108 newly licensed beds By John B. Mugford Despite the national shift to an outpatient healthcare system, new hospital beds are still needed in some markets and at some hospitals, as evidenced by Vanderbilt University Medical Center’s recently approved project to add 108 new beds […]
Inpatient Projects: Henry Mayo Newhall Hospital starting $110 million, 116-bed tower in Valencia, Calif.
SANTA CLARITA, Calif. – A new six-story tower that will soon get underway in Valencia will add 116 beds to the Henry Mayo Newhall Hospital, in the heart of the Santa Clarita Valley about 30 miles north of Los Angeles. The project is slated to cost about $110 million and be completed in May 2018.
Inpatient Projects: Mercy Medical Center in Canton, Ohio, opens $14.7 million ED renovation
CANTON, Ohio – A new $14.7 million emergency department (ED) expansion and renovation has opened at Mercy Medical Center in Canton, home of the Pro Football Hall of Fame. The 476-bed hospital serves the greater Canton area, about 15 miles south of Akron and 50 miles south of Cleveland.
Inpatient Projects: Hospital in rural Minnesota receives USDA loan, breaks ground on $24M facility
OLIVIA, Minn. – Renville County Hospital & Clinics recently broke ground on a $24 million replacement hospital facility in Olivia, a small rural town in southwest Minnesota. Local officials hope the new hospital can help the agricultural community grow. “Renville County is a leader in agriculture,” Mayor Suzanne Hilgert told a local news outlet. “With […]
Inpatient Projects: More Inpatient News
■ Fletcher Allen Health Care in Burlington, Vt., is moving forward on a $15 million upgrade to its maternity unit. The University of Vermont-affiliated hospital currently houses maternity patients in a space that is more than 70 years old. The construction is the first major project for Fletcher Allen’s Medical Center Campus in five years. […]
Editor’s Letter: When will it all end?
Healthcare real estate is hot! Where is the horizon? Dear Reader: Spoiler alert: In our next few editions, we will be writing about how hot the healthcare real estate (HRE) market is. And with good reason. It seems a perfect storm has created this deluge of both sales and development activity: the economy, while still […]
Industry Pulse: NorthStar is acquiring more than real estate
NorthStar Realty’s deal with Griffin-American REIT II entails more than just its portfolio. In an interesting twist on NorthStar Realty Finance Corp.’s acquisition of Griffin-American Healthcare REIT II for an estimated $4 billion, NorthStar is also acquiring a 47 percent interest in one of the REIT’s sponsors, Irvine, Calif.-based American Healthcare Investors Inc. Damon Elder, […]
