June 2014 PDF
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Cover Story: Hungry for growth: Healthcare REITs are gobbling up their competitors
Public REITs are gobbling up healthcare real estate – and each other – as they angle to grow their portfolios. Ventas is poised to shore up its position as the biggest fish in the HRE pond, but other REITs are also casting about for ways to move up the food chain. By John B. Mugford […]
Transactions: ARC Healthcare Trust II lands two Florida MOBs for a total of $22.6 million
CLEARWATER, VENICE, Fla. – ARC Healthcare Trust II, a 1-year-old unlisted REIT, continued to build its portfolio in May with the acquisition of four Gulf Coast-area MOBs from a well-known Florida real estate firm.
Transactions: Firm focused on corporate real estate purchases three Chicago-area MOBs
BERWYN, Ill. – As the country’s health systems face daunting expenses and myriad new challenges in the era of healthcare reform, they are being encouraged by many HRE professionals to adopt a more corporate mentality when it comes to occupying real estate.
Transactions: HTA grabs MOBs along East Coast
By John B. Mugford Portfolios are the rare gems in today’s healthcare real estate (HRE) investment arena, where available, attractive medical office buildings (MOBs) remain in short supply compared to the amount of capital that would-be buyers desperately want to place.
Transactions: Flagship-Drake joint venture acquires FED and MOB in Virginia for $19.55 million
FREDERICKSBURG, Va. – A joint venture composed of an investment fund operated by Charlotte, N.C.-based Brackett Flagship Properties and New York-based Drake Real Estate Partners recently acquired a health system’s key off-campus property in Fredericksburg, about 45 miles south of Washington, D.C.
Transactions: More HRE Transactions
Crossroads Development Partners LLC of Schaumburg, Ill., recently led a venture to acquire a two-building, 53,000 square foot, Class B MOB asset in Hoffman Estates, Ill., for $1.2 million, or about $23 PSF. The Medcoa Professional Complex at 990 to 1000 Grand Canyon Parkway was acquired from an affiliate of Boston-based Admirals Bank, which took […]
Hot Property: Ortho group monetizing portfolio
Two facilities comprise portfolio to be net leased to Arlington, Texas, group Name: Arlington Orthopedic Portfolio Cities: Arlington and Mansfield, Texas Number of buildings: 2 Total square footage: 49,660 Occupancy: 100% Tenant: Arlington Orthopedic Associates Seller: Arlington Orthopedic Associates Brokers: Daniel Turley, Mindy Berman and Steven Leathers, Jones Lang LaSalle
Transactions: CNL buys Houston assets from HCN
CNL’s $76 million Houston Orthopedic & Spine Hospital campus acquisition includes a four-story, 126,946 square foot single-tenant specialty surgical hospital and a four-story, 99,768 square foot, multi-tenant, Class A MOB. Photos courtesy of Colliers International Firm acquires specialty hospital, medical office for $76M from Health Care REIT By John B. Mugford Orlando, Fla.-based CNL Healthcare […]
Outpatient Projects: Seavest, Anchor start new MOB
Partners collaborating on 72,000 s.f. medical “destination” near Philidelphia, PA By John B. Mugford As the population continues to grow in southern Chester County, Pa., two firms well-known in the healthcare real estate (HRE) sector are embarking on a project that they believe will become a medical “destination.”
Outpatient Projects: LandPlan plans to develop 51,000 s.f. MOB and 18262 s.f. ASC in Fort Worth, Texas
FORT WORTH, Texas – LandPlan Development of Frisco, Texas, recently announced that it plans to develop a three-story, 51,000 square foot MOB with an 18,262 square foot ASC in Fort Worth.
Outpatient Projects: Local developer proceeds with small spec MOB across from Connecticut hospital
DANBURY, Conn. – Perhaps speculative MOB development is on the comeback trail. Well, maybe not on a large scale like before the Great Recession.
Outpatient Projects: Irgens breaks ground for 26,000 s.f. on-campus MOB in west central Wisconsin
CHIPPEWA FALLS, Wis. – Irgens of Milwaukee recently broke ground for a new 26,000 square foot MOB on the campus of St. Joseph’s Hospital in Chippewa Falls, a city of about 15,000 people in the west central part of the state.
Outpatient Projects: Mercy Medical Center plans $15 million cancer care center expansion
SPRINGFIELD, Mass. – Sisters of Providence Health System plans to start work later this spring on a $15 million, two-story, 28,800 square foot expansion of the Sister Mary Caritas Cancer Care Center at its Mercy Medical Center campus in Springfield.
Outpatient Projects: Ranier Medical takes over development of MOB in Waxahachie, Texas
WAXAHACHIE, Texas – A switch in developers was approved by the Waxahachie City Council in recent months in order to reduce rents at a future 72,184 square foot, $11 million MOB underway in the city.