Outpatient Projects: More Outpatient Real Estate News
■ In a region with an obesity rate of 37 percent, Thibodaux (La.) Regional Medical Center is putting the finishing touches on a $63 million, 230,000 square foot wellness and health education facility. The building, scheduled to open in early 2015, is being built across the road from the 185-bed regional hospital. The facility is […]
Inpatient Projects: $250M campus set for Delaware
EwingCole designed master plan for Bayhealth’s replacement of Milford Memorial By John B. Mugford Having the governor on hand to help announce a new replacement hospital campus slated for Milford, Del., was a good indication of how important Bayhealth officials believe the project is for the central-southern part of the state. Labeling the future campus […]
Inpatient Projects: Recent merger leads to plan for $160 million expansion at hospital in suburban Detroit
FARMINGTON HILLS, Mich. – Hospitals are merging with other hospitals and larger health systems at a rapid rate, in large part to create certain efficiencies, add or combine services, gain more patients and capital clout, and other reasons. Gaining access to more capital and finally getting what officials are calling a much-needed upgrade and expansion […]
Inpatient Projects: Hospital in northern N.Y. proposes consolidating services on $200M campus
CANTON, N.Y – Canton-Potsdam Hospital in Potsdam, N.Y., has big plans for a new $200 million hospital campus on a 270-acre parcel of farmland just outside of nearby Canton, N.Y. However, while the first two phases of a three-phase plan for the site are likely to take place, plans for the third phase, a new […]
Inpatient Projects: Hospital in Pennsylvania’s Poconos plans a new campus 10 miles away
TANNERSVILLE, Pa. – It makes sense that the main focal point of a new hospital campus being planned in Tannersville by East Stroudsburg, Pa.-based Pocono Medical Center will be the ED. That’s because the hospital that serves a metropolitan statistical area with a population of about 160,000 people in the heart of the Poconos sees […]
Inpatient Projects: More Inpatient Real Estate Project News
■ Members of the Downers Grove, Ill., Plan Commission recently gave their go ahead for a $92 million expansion at the 330-bed Advocate Good Samaritan Hospital in the far western suburbs of Chicago. The project still needs the final approval of the City Council, but hospital officials say they expect to start construction on the […]
Industry Pulse: More Broker-Dealers Resume Sales of ARC REITS
Investment sales have resumed now that the firm’s healthcare REITs have been cleared. Sales of non-traded real estate investment trusts (REITs) sold under the sponsorship of New York-based American Realty Capital Properties Inc. (Nasdaq: ARCP) seem poised to recover now that most units of the company have been cleared of wrongdoing in an accounting scandal […]
Industry Pulse: Vince Cozzi Crosses Border For New Job
Former Ventas exec joins Toronto-based health REIT. Vincent M. Cozzi, who was in charge of medical office building (MOB) investing for Ventas Inc. (NYSE: VTR), recently left his post to become co-president and chief investment officer of Toronto-based NorthWest International Healthcare Properties REIT (TSXV: MOB.UN).
Editor’s Letter: Disruptive innovation
Is the healthcare industry facing ‘a Kodak moment?’ Dear Reader: In ancient times, when I was in graduate business school (1989-91, if you must know), I took an excellent class called “The Management of Innovation.” Among other things, we learned how certain products once held seemingly unassailable market positions, only to be eliminated almost overnight […]
Post-Acute & Senior Living: Firms teaming up on big UK deal
HCP Inc. is backing $630M acquisition led by Formation Capital and Safanad Ltd. By Dan Larson With senior housing properties in such high demand, prices continue to rise to record levels. As a result, many investors are looking across the pond to find opportunities. Irvine, Calif.-based HCP Inc. (NYSE: HCP), is one such investor, as […]
Post-Acute & Senior Living: NorthStar stays active in seniors sector with $170 million in investments
NEW YORK – Greenwood Village, Colo.-based NorthStar Healthcare Income Inc., a non-traded REIT, recently announced $170 million worth of investments in an assisted living portfolio and a mezzanine loan backed by a skilled nursing and assisted living portfolio. Sponsored by NorthStar Asset Management Group, the REIT invests in all facets of the senior housing sector.
Post-Acute & Senior Living: Following Omega deal, Aviv REIT announces $305M, 28-asset portfolio purchase
CHICAGO – Just days after disclosing a planned $10 billion merger with Omega Healthcare Investors, Chicago-based Aviv REIT (NYSE: AVIV) announced the acquisition of a $305 million portfolio from Diamond Senior Living LLC, a subsidiary of General Electric Credit Corp. of Tennessee. The deal includes 29 properties and is the largest company acquisition in 30 […]
Post-Acute & Senior Living: Medical Properties Trust makes big buys, including $900M deal in Germany
BIRMINGHAM, Ala. – Birmingham-based Medical Properties Trust Inc. (NYSE: MPW) is expanding its senior healthcare brand to Germany. The real estate investment trust recently announced a plan to acquire and lease back all of the real estate assets currently held by MEDIAN Kliniken Group, the largest private provider of post-acute and acute rehabilitation facilities in […]
Post-Acute & Senior Living: More Post-Acute & Senior Living News
■ Murfreesboro, Tenn.-based National Health Investors (NYSE: NHI) is planning to lend $154.5 million to recapitalize and finance the expansion of Timber Redige at Talus, a continuing care retirement community in Issaquah, Wash. The facility serves the greater Seattle area and currently has 184 independent living apartments which are 95 percent occupied. The expansion plans […]
Companies & People: 5 questions for Chris Rooney
AHI’s top asset manager talks about REIT strategy, the HRE market and more By Dan Larson One of the most prolific buyers of healthcare real estate (HRE) in recent years has been Irvine, Calif.-based Griffin-American REIT II, an unlisted real estate investment trust (REIT) that has acquired more than $2.6 billion worth of healthcare facilities […]