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Archives: June 2015

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June 2015 PDF

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Outpatient Projects: Kaiser Permanente to build massive new facilities in and around Riverside, Calif.

MURRIETA, Calif. – Oakland, Calif.-based Kaiser Permanente is embarking on a 25-year plan to build 824,500 square feet of medical space at the intersection of Mapleton Avenue and Keller Road in northern Murrieta, about 38 miles south of Riverside, Calif.

Transactions: Carter Validus closes on Kansas rehab hospital and Florida urgent care center

TAMPA, Fla. – Following up on more previously announced deals involving Tampa-based Carter Validus, the private, non-traded REIT announced April 23 that it had closed on the acquisitions of a rehabilitation hospital in Kansas and an urgent care center in Florida.

Transactions: Carter Validus completes 21st Century Oncology Portfolio deal for $117 million

TAMPA, Fla. – Carter Validus Mission Critical (CVMC) REIT Inc. reported May 20 that it has completed the previously announced acquisition of the five-state, 20-property 21st Century (21C) Radiation Oncology real estate portfolio for about $117 million.

Outpatient Projects: At least 11 hospitals, systems planning, opening ambulatory surgery centers

NATIONWIDE – Ambulatory surgery centers (ASCs) are certainly gaining traction as the country’s health sector moves from an inpatient delivery model to an outpatient one.

Transactions: More Healthcare Real Estate Transactions

Two medical facilities in Raleigh, N.C.’s Brier Creek area recently changed hands, according to the local Triangle Business Journal. Alm Street Medical Office, a two-story, 30,924 square foot facility at 10211 Alm St. was sold for $12.5 million, or $404 PSF, according to the business publication. It was sold to an entity affiliated with Roebling […]

Outpatient Projects: Springfield, Ill., hospital makes plans for new MOB, renovation of neonatal unit

SPRINGFIELD, Ill. – HSHS St. John’s Hospital and Springfield’s Southern Illinois University School of Medicine (SIU) recently announced a 10-year plan to develop a $50 million outpatient office building and to make more than $10 million in renovations to the neonatal intensive care unit on the campus.

Transactions: Griffin-American acquires medical complex near Philly for $24.8 million

CHESTER COUNTY, Pa. – Griffin-American Healthcare REIT III Inc. has acquired a three-building, 99,059 square foot medical office complex on 9.7 acres adjacent to Main Line Health System’s Paoli Hospital campus for $24.8 million.

Transactions: HFF arranges refinancing for famed One Hundred Oaks mixed-use and medical mall

NASHVILLE, Tenn. – Before the repurposing of retail space for medical use became commonplace, the One Hundred Oaks facility in Nashville was considered one of the first, best and – for many years – only examples of the successful implementation of that strategy.

Health Care REIT is selling its share of 88 Sidney St. and six other bioscience assets at University Park at MIT in Cambridge, Mass., for a tidy profit.
Photo courtesy of Forest City Enterprises

Transactions: Bye, bye, bio. Hello, more healthcare.

Health Care REIT plans to sell its life sciences holdings and reinvest in HRE By Murray W. Wolf In today’s low interest rate environment, it can be difficult to find moderate-risk investments that will deliver double-digit returns. But Toledo, Ohio-based Health Care REIT Inc. (NYSE: HCN) appears to have done just that with its investment […]

Potential buyers can acquire the 57,704 square foot Park Place Medical building, an adjacent 4-acre parcel already entitled for another 60,000 square feet, or both.
Photo courtesy of HFF

Hot Property: California MOB is anchored by Kaiser

Also available is an adjacent parcel already entitled for another 60,000 s.f. facility Name: Park Place Medical Address: 1761 N. Broadway St. City: Vallejo, Calif. Building size: two stories, 57,704 s.f. Lots size: 3.2 acres, plus adjacent 4-acre parcel available separately Leased: 94% Anchor tenant: Kaiser Permanente Avg. remaining lease: 6.1 years Year completed: 1990 […]

Transactions: Dallas-based partnership acquires 116,875 square foot multi-tenant medical office

DALLAS – A local partnership recently acquired the two-story, 116,875 square foot Northpoint Medical Arts building, a multi-tenant MOB in Dallas for an undisclosed price.

This three-story, 60,500 square foot medical office (MOB) building at 900 Rand Road in Des Plaines, Ill., is one of nine Chicago-area assets recently acquired in a $131 million transaction for an investment fund managed by MBRE Healthcare.
Photo courtesy of MBRE Healthcare

Transactions: MBRE fund makes $131M MOB buy

Chicago-based firm acquires nine-building, 401,428 square foot IBJI Portfolio By Murray W. Wolf Executives of the Chicago-based healthcare real estate (HRE) firm MBRE Healthcare say they are always on the lookout for investment opportunities. But they point out that they have properties in 23 states and it’s not necessarily their strategic priority to add assets […]

Outpatient Projects: More Outpatient Real Estate Project News

Ground was recently broken for the future $33 million, four-story Phelps County Regional Medical Center that will house the Delbert Day Cancer Institute in Rolla, Mo. The new medical center will house all of the hospital’s cancer research and treatment services under one roof. The facility, which is expected to open in the fall of […]