Outpatient Projects: PMB competes Los Alamitos MOB
New parking structure facilitates construction of $37 million, 70,000 s.f. facility By Murray W. Wolf Pacific Medical Buildings (PMB) recently completed a $37 million, three-story, 70,000 square foot multi-tenant medical office building (MOB) and a six-level parking structure on the campus of Los Alamitos Medical Center (LAMC) in Los Alamitos, Calif. Construction began in July […]
Outpatient Projects: Frauenshuh completes care center
New 133,000 square foot facility is part of a Minneapolis area hospital expansion By Murray W. Wolf Frauenshuh Health Care Real Estate Solutions recently completed construction of the four-story, 133,000 square foot Fairview Ridges Specialty Care Center on the campus of Fairview Ridges Hospital in Burnsville, a south Minneapolis suburb.
Outpatient Projects: More Outpatient Real Estate Project News
The Davis Group, a prolific Minnesota MOB developer, is moving forward with a new project in the bustling western Minneapolis suburb of Wayzata. There, the Minneapolis-based firm has submitted a plan to the city that calls for demolishing a 31-year-old medical building at 1120 E. Wayzata Blvd., in the heart of a commercial shopping and […]
Inpatient Projects: $1.5 billion UCSF hospital opens
Mission Bay campus focusses on women, children, cancer; tech playing a big role By John B. Mugford The new $1.5 billion University of California at San Francisco (UCSF) Medical Center at Mission Bay is now up and running, and it’s getting plenty of help and heavy lifting from some non-humans working on the campus.
Inpatient Projects: Carolinas Health still fighting Piedmont’s CON for South Carolina hospital
FORT MILL, S.C. – Even with a recent approval in hand from an administrative law court, Rock Hill, S.C.-based Piedmont Medical Center might not be starting construction as soon as it would like on its planned $147 million hospital in Fort Mill, about 20 miles south of Charlotte, N.C. That’s because Charlotte-based Carolinas HealthCare system […]
Inpatient Projects: More Inpatient Real Estate Project News
■ The University of Iowa is in the process of raising funds for a new $292 million, 480,000 square foot pediatric hospital. The 14-story building will be connected to the existing hospital in Iowa City. The university is funding the project through bonds, patient revenue and private gifts. The project is expected to be completed […]
Editor’s Letter: Something for everyone
There are many ways to invest in the HRE sector Dear Reader: We are pleased to bring you this month’s cover story, “Non-traded healthcare REITs seek deals amid flood of capital.” We consider that article to be the complement and counterpoint to last month’s cover story on publicly traded healthcare real estate investment trusts (REITs), […]
Industry Pulse: Florida Providers Plan To Attempt “Coopetition”
Two rival Tampa, Fla., area systems plan to partner on a new outpatient center and more. We’ve been hearing a lot about hospital and health system mergers and acquisitions in recent years. But two rival systems in the Tampa, Fla., area are trying “coopetition,” joining forces to battle bigger competitors with a not-for-profit joint venture […]
Industry Pulse: REITs own less than 10%? Not so fast…
Public REITs might own closer to 13 percent, one reader says. In our December Publisher’s Letter, HREI™ Publisher Murray W. Wolf estimated that the publicly traded healthcare real estate investment trusts (REITs) probably own less than 10 percent of all healthcare real estate (HRE) based on their combined market capitalization of $92.9 billion (as of […]
Post-Acute & Senior Living: New Senior plans largest buy to date
‘Pure play’ senior housing REIT to pay $435M for 17-asset portfolio in 10 states By Daniel H. Larson New York-based Newcastle Investment Corp.’s spin-off company, New Senior Investment Group, recently announced its biggest deal yet.
Post-Acute & Senior Living: The Wesley Community plans $42 million senior care facility in Upstate NY
MALTA, N.Y. – Saratoga Hospital is teaming up with The Wesley Community in planning a new $42 million senior-living apartment complex in Malta, a small town about 25 miles north of Albany in Saratoga County, N.Y. The Wesley Community is a not-for-profit entity sponsored by Hutchinson, Kan.-based United Methodist Health. It currently operates a 36-acre […]
Post-Acute & Senior Living: More Post-Acute & Senior Living News
■ Franklin Park Stone Oak of San Antonio has secured $20 million in financing to move forward on the assisted living facility’s second phase. Plans calls for adding 63 independent living units to the 99 units built in 2011. Construction would begin in the second quarter (Q2) of 2015 and completed in 2016. Chicago-based Harrison […]
REIT Report: Newcastle spin-off creates new REIT
New Senior Investment Group began trading Nov. 7 on the New York exchange By Murray W. Wolf Careful readers will notice that the Healthcare Real Estate Insights™ Index of Publicly Traded Healthcare Real Estate Investment Trusts (REITs) shown below has grown since last month. New to the index this month is New Senior Investment Group (NYSE: […]
Capital Markets: Assumable loans increase options
A lender’s flexible structure and approach should be important for borrowers By Erik Tellefson Assumable loans generally allow for the debt to be assumed by another party, typically at the lender’s discretion and in exchange for an assumption fee. While an assumption provision may seem insignificant relative to more key loan terms like rate, term, […]
Companies & People: H2C led year’s largest monetization
Investment banking, advisory firm represented Pa. system in $174.1 million sale By John B. Mugford The largest health system sale, or monetization, of a real estate asset portfolio in 2014 took place in October, when Harrisburg, Pa.-based PinnacleHealth sold eight buildings to ARC Healthcare Trust II, a non-traded real estate investment trust (REIT).