Transactions: Stage Equity Partners LLC acquires 31,000 s.f. MOB in Atlanta area for $6.1 million
LITHONIA, Ga. – Stage Equity Partners LLC continues to be on the lookout for potential acquisitions in the HRE sector, as evidenced by its recent purchase of Stonecrest Medical Office Building in Lithonia, Ga., east of Atlanta.
Transactions: Beverly Hills MOB tops $1,500 PSF
Archway Holdings, which bought the asset in 2008, sells it to UBS affiliate By John B. Mugford Anytime a medical office building (MOB) with a Beverly Hills, Calif., address sells, one can rest assured that the sales price will be quite eye popping. And that’s exactly the case with the recent transaction involving the building […]
Hot Property: A pair of MOBs offered in Scottsdale
Pima Medical Pavilion has two buildings located within a 1 million s.f. office park Name: Pima Medical Pavilion Address: 8415 and 8465 N. Pima Road City: Scottsdale, Ariz. Total leasable square feet: 180,486 Occupancy: 90.8% Year built: 2008 Avg. lease term: 7.34 years Seller: Healthcare Realty Trust Brokerage: CBRE Brokers: Christopher Bodnar, Lee Asher Not […]
Outpatient Projects: MOB reflects provider’s new strategy
Hammes developed the massive Chicago outpatient facility for Presence Health By John B. Mugford During this era in which “retailization” is all the rage in the delivery of healthcare services, it would seem that finding a vacant retail store to convert into an outpatient facility would be a goal for many healthcare providers.
Outpatient Projects: Silicon Valley system plans to build seven-story MOB at site of former hospital
MOUNTAIN VIEW, Calif. – Even after building a new inpatient replacement facility in 2009, El Camino Hospital has not stopped bolstering its campus in Mountain View, between the California cities of Palo Alto and San Jose.
Outpatient Projects: Seattle Cancer Care Alliance plans to expand by about 220,000 square feet
SEATTLE – Even though project details are still emerging, the Seattle Cancer Care Alliance (SCCA) is planning a new building with about 220,000 square feet on a site adjacent to its 212,000 square foot main clinic in the South Lake Union area of the city.
Inpatient Projects: Jackson Health receives CON for Doral, Fla., hospital, but others file protest
DORAL, Fla. – The battle over which health system will get to build a new hospital in or near the Miami suburb of Doral looks to be over – but perhaps not for long.
Post-Acute & Senior Living: Alaska fund makes foray into HRE
State fund, with CS Capital, pays $114.5M for two Boston-area rehab facilities By John B. Mugford In a transaction that represents an emerging and important sector of healthcare real estate (HRE), the Alaska Permanent Fund Corp., represented by CS Capital Management Inc., recently acquired two Boston-area rehabilitation hospitals for $114.5 million, which works out to […]
Inpatient Projects: Maryland replacement gains CON
State approves Washington Adventist’s plans for a new hospital outside of D.C. By John B. Mugford Washington Adventist Hospital officials are describing the process of gaining a Certificate of Need (CON) from the state of Maryland to build a new replacement hospital in Greater Washington as “long and laborious.”
Editor’s Letter: Tenants settling in?
From what we hear, longer leases are on the rise Dear Reader: Even though healthcare real estate (HRE) became one of the hottest, most in-demand property types in recent years, one lingering problem, or sticking point, made owning medical office buildings (MOBs) perhaps a bit more worrisome than many investors would have liked.
Post-Acute & Senior Living: Cincinnati company plans $52 million expansion at its senior living community
MONTGOMERY, Ohio – Cincinnati-area senior living provider Life Enriching Communities (LEC) announced a $52 million expansion at its Twin Lakes Senior Living Community in Montgomery, just outside of Cincinnati, that will add more independent living residents, as well as “much needed” memory care services.
REIT Report: CNL buys Vegas-area MOB complex
$54.8 million acquisition in Henderson, Nev., is REIT’s largest in some time By John B. Mugford Orlando, Fla.-based CNL Healthcare Properties recently found a medical property it liked near Las Vegas, and it went ahead and paid $54.8 million for the three-building, 139,222 square foot Siena Heights Medical Pavilion in Henderson, Nev.
Industry Pulse: Regional Health Systems Form JV for MOB Project
In an interesting twist on collaboration, two Michigan providers plan to team up for MOB A new joint venture (JV) medical office building (MOB) is being planned by two Michigan systems. Grand Rapids-based Spectrum Health and Holland-based Holland Hospital formed a JV called Health Pointe in June 2015.
Industry Pulse: On the Record – Michael Bennett
What do you think is ahead for healthcare real estate in 2016? “Unlike some involved in the sector, I think we will see an increase in the number of monetizations, or sales of medical office buildings by hospitals and health systems, in the coming year. If I were to put a number on it, I’d […]