Transactions: Global Medical REIT keeps acquiring MOBs as it buys 11 facilities
BETHESDA, Md. – Another one of the relatively new investors in the MOB and healthcare real estate (HRE) acquisitions arena, Bethesda-based Global Medical REIT Inc. (NYSE: GMRE), made a number of purchases in buying 11 buildings in recent weeks. The publicly traded real estate investment trust (REIT) said it has entered into purchase contracts to […]
Transactions: Montecito Medical acquires on-campus MOB in Iowa, in the Quad Cities
BETTENDORF, Iowa – Nashville, Tenn.-based Montecito Medical keeps growing its portfolio. The company recently acquired the Terrace Park Professional Center in Bettendorf, part of the Quad Cities metropolitan area straddling Iowa and Illinois along the Mississippi River. According to Montecito, the three-story MOB at
Hot Property: MOB to be neighbor of the L.A. Rams
Offering in Inglewood, Calif., is just a few blocks from $7.5B multi-use project Name: Freeman Medical Arts Center Address: 301 N. Prairie Ave. City: Inglewood, Calif. Total leasable square feet: 85,314 Number of floors: 6 Number of tenants: 22 Occupancy: 40% Year built: 1979 Brokerage: CBRE Brokers: Bill Maher, Greg Stumm Sure, the six-story, 85,314 […]
Outpatient Projects: Trammell Crow looks to hot area
New MOB is planned for National Harbor mixed-use area near Washington, D.C. By John B. Mugford After hearing from a number of physician practices wanting new space in the new National Harbor mixed-use area down the Potomac River from Washington, D.C., Dallas-based Trammell Crow Company is answering the call. The company, which also has a […]
Transactions: Physicians Realty Trust acquires six-building portfolio in Florida
MAITLAND, Fla. – Fresh off making what is most likely the largest MOB portfolio acquisition from a single healthcare system in the history of the MOB sector, Milwaukee-based Physicians Realty Trust (NYSE: DOC), often referred to as DocREIT, has acquired a six-building portfolio of properties in Maitland, a suburb of Orlando. The REIT paid
Inpatient Projects: $385M hospital gets started in S.C.
262-bed children’s facility to include a women’s pavilion at teaching hospital By John B. Mugford Ground was broken in recent weeks in Charleston, S.C., for what will be the largest children’s hospital in the state. Scheduled to open during the fourth quarter (Q4) of 2019 on the campus of the 700-bed Medical University of South […]
Industry Pulse: NorthStar said to be near almost $1 billion MOB deal
Large foreign investor said to be interested in the firm’s massive medical office portfolio Healthcare real estate (HRE) sector sources say that a portfolio with nearly $1 billion worth of medical office buildings (MOBs) is for sale. The MOBs are being offered by New York-based NorthStar Realty Finance (NYSE: NRF), which is in the process […]
Industry Pulse: MOB deliveries on pace to rise by 37% this year
A ‘growing shortage” of MOBs has stimulated ‘a wave of development,’ according to CoStar Last month, in the article “Construction starts might decline this year,” we reported that the building research firm Dodge Data & Analytics, estimated that healthcare construction starts would decline by 4.5 percent in square footage and 2.9 percent in value this […]
Post-Acute & Senior Living: New JV plans $500M+ portfolio
Berkshire teaming with developer/owner of senior communities on West Coast By John B. Mugford In a classic example of an institutional investor teaming up with a firm that focuses on the development, ownership and operations of projects in specific real estate sectors, Boston-based Berkshire Group recently announced the formation of a partnership with Newport Beach, […]
Industry Pulse: Fewer hospitals? Not necessarily
Seven CON applications in the works in Orlando, Fla., area Nearly everyone involved in healthcare real estate (HRE) has heard that the country’s hospitals are living on borrowed time. It will only be a matter of time, we’re told, until hospitals will be caring for only the very sick while most ailments, illnesses and surgeries […]
Companies & People: 5 Questions for Mindy Berman
Managing director with JLL’s healthcare group talks about the firm, the market By John B. Mugford When a new investment banking group with a big name behind it entered the medial office building (MOB) sales sector in 2010, it was basically a one-person shop with an analyst for support. Fast forward six years later, and […]
Industry Pulse: Projects combining MOBs, senior housing
Plans for one medical-senior site also include a Chick-fil-A Anyone who follows or participates in the senior housing sector, the medical office building (MOB) sector – or both – has long known that older people are big users of the services offered in MOBs. Yet, for years upon years, the two classifications of healthcare real […]
Companies & People: Colorado ski town gets a new MOB
NexCore Group was persistent in its quest to find a site, complete building By John B. Mugford The city of Avon, Colo., has about 7,000 residents and is in the heart of the Colorado Rockies, about 15 miles from Vail. These days, town officials and the mayor are praising the efforts of a national healthcare […]
Companies & People: New buyer finding MOBs
Everest made three purchases in its first few months By John B. Mugford The list of investors entering the medical office building (MOB) space keeps growing. One of the new players is New York-based Everest Medical Core Properties, which says it is focusing on acquiring MOBs, wellness centers and outpatient clinics. So far, the company […]
Longfellow Cambridge case study
A strong example of a life science biotech acquisitions and loan transaction By Erik Tellefson In my previous article, I shared the ins and outs of financing life science and biotechnology properties – an important and growing component of the healthcare real estate asset class. These buildings are in some ways similar to medical office […]