INDUSTRY PULSE: TRIO ACQUIRES SAN ANTONIO MOB PACKAGE
Investors plan to make $27M in capital improvements A trio of firms focused on healthcare real estate (HRE) in August closed on the acquisition of portfolio of four large medical office buildings (MOBs) on hospital campuses in the San Antonio market. The partnership comprises: Bostonbased MLL Capital; Chevy Chase, Md.- based Artemis Real Estate Partners; and Atlanta-based Ackerman & Co., which will provide property management […]
COMPANIES & PEOPLE: Five questions for John Thomas
Physicians Realty Trust CEO credit relationships for recent flurry of acquisitions By John B. Mugford Coming off a remarkable 2016 in which Milwaukee-based Physicians Realty Trust (NYSE: DOC) acquired about $1.3 billion worth of healthcare facilities, mostly medical office buildings (MOBs), officers with the real estate investment trust (REIT) indicated they were not likely to keep up with such a pace in 2017. […]
POST-ACUTE & SENIOR LIVING: Caddis acquires site, plans to develop 105-unit senior housing facility near Milwaukee
GLENDALE, Wis. – Dallas-based Caddis recently acquired a 12-acre acre parcel in Glendale, just north of Milwaukee, for the development of a 105-unit senior living complex, according to an article in Milwaukee Biz Times.
POST-ACUTE & SENIOR LIVING: Construction is complete on $120 million CCRC in Playa Vista area of Los Angeles
LOS ANGELES – Pasadena, Calif.-based C.W. Driver Cos. recently completed construction on the $120 million Fountainview at Gonda Westside, a 460,000 square foot continuing care retirement community (CCRC) in the Playa Vista neighborhood of Los Angeles.
POST-ACUTE & SENIOR LIVING: Work starts on $60 million rehabilitation, skilled nursing facility in White Plains, N.Y.
WHITE PLAINS, N.Y. – Ground was broken in early September for the future $60 million White Plains Institute for Rehabilitation & Healthcare facility at Baker Avenue and Church Street in White Plains.
INDUSTRY PULSE: WELLTOWER MADE BIG Q2 MOB ACQUISITIONS
The REIT racked up $292M in acquisitions, developments Though not quite on HTA’s scale, Welltower Inc. (NYSE: HCN) was another big buyer during Q2. The Toledo, Ohiobased REIT made total investments of $292 million during the quarter, according to a news release detailing the firm’s most recent quarterly results. Welltower officials also provided highlights from Q2 during an earnings call with analysts on […]
POST-ACUTE & SENIOR LIVING: Novant, HealthSouth break ground on $28.3 million rehab hospital in Winston-Salem, N.C.
WINSTON-SALEM, N.C. – Construction is underway on a future $28.3 million rehabilitation hospital at 2475 Hillcrest Center Circle in Winston-Salem.
ON THE RECORD: Why did your MOB portfolio perform better during the second quarter?
Doctors are a little more comfortable staying where they are and they’re signing a little more longer-term on their leases.
POST-ACUTE & SENIOR LIVING: New rehab concept hits the market
Mainstreet to open at least 12 Rapid Recovery Centers by the end of 2019 By John B. Mugford A new concept in post-acute rehabilitation is in the midst of hitting the market. Carmel, Ind.-based Mainstreet Health Investors has already opened two of its Rapid Recovery Centers, with eight more scheduled to open between now and 2019. The facilities that opened […]
INPATIENT PROJECTS: Amita Health plans $43 million project at hospital in La Grange, Ill., outside Chicago
LA GRANGE, Ill. – Arlington Heights, Ill.-based Amita Health is planning a $43 million project to expand its Amita Health Adventist Medical Center in La Grange, according to the Chicago Tribune.
INPATIENT PROJECTS: Gulf Coast Medical Center in Fort Myers, Fla., to get $347 expansion and upgrades
FORT MYERS, Fla. – The board of directors of Fort Myers -based Lee Health recently approved a $347 million renovation and expansion project at the system’s Gulf Coast Medical Center.
INPATIENT PROJECTS: Project at St. John’s Regional in Oxnard, Calif., to help create ‘hospital of the future’
OXNARD, Calif. – St. John’s Regional Medical Center in Oxnard, part of San Francisco-based Dignity Health, recently announced plans for a major expansion and modernization project that it says will create a “hospital of the future.”
INPATIENT PROJECTS: Topping off of $168 million project celebrated at North Shore Med Center in Salem, Mass.
SALEM, Mass. – A $168 million expansion and renovation at North Shore Medical Center in Salem, part of Boston-based Partners HealthCare System, recently reached the halfway point.
INPATIENT PROJECTS: St. Louis University, SSM break ground on $550 million flagship hospital replacement
ST. LOUIS – Officials with St. Louis University and SSM Health broke ground in late August on the $550 million replacement for SSM Health St. Louis University Hospital.
INPATIENT PROJECTS: Joe DiMaggio Children’s in Hollywood, Fla., is proposing $97 million expansion
HOLLYWOOD, Fla. – The size of Joe DiMaggio Children’s Hospital in Hollywood would nearly double to 300,000 square feet under a plan proposed by its parent organization, Memorial Healthcare System.