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Product Focus: Q3 MOB sales totaled about $564M
AVERAGE SALE PRICE TOPPED $200 PSF FOR THE FIRST TIME IN THREE QUARTERS By John Mugford In a rather mundane but steady quarter for medical office building (MOB) sales, at least one somewhat important milestone was reached, or re-reached. While statistics from New York-based Real Capital Analytics (RCA) Inc. show that MOB sales in the […]
Capital Markets Snapshot: Thanksgiving shoppers busted loose
CONSUMERS FOUGHT ‘FRUGALITY FATIGUE,’ BUT CAPITAL MARKETS DIDN’T BUDGE By Cain Brothers There was only one real surprise Thanksgiving week. It was not the fact that, after four months of intense pressure to find a compromise, the budget deficit super committee came up empty. It was not the fact that, after what seems like years […]
Company Profile: Small firm, big presence
GOOD REPUTATION KEEPS HEALTHAMERICA HUMMING By John Mugford When Thomas W. “Tommy” Tift III was in Los Angeles for a healthcare real estate conference and some meetings earlier this year, he took an afternoon away from business to enjoy the nice weather and squeeze in a round of golf. But the getaway quickly turned into […]
News & Analysis: Flagler, Investcorp do JV
JOINT VENTURE BUYS ONE OF FIRST MEDICAL MALLS By John Mugford When it was built back in 1996, Bethesda Health City in Boynton Beach, Fla., was one of the first medical mall developments in the country. The concept for this “one-stop” healthcare facility, like those that have followed, is to provide patients with a convenient […]
Industry Pulse: November 2011
NEWPORT BEACH, Calif. – There’s a new name among the companies actively involved in acquiring healthcare real estate, a sector that has seen quite a number of mergers and acquisitions among its leading companies in recent years. In this case, the independent members of the board of Grubb & Ellis Healthcare REIT II, an active […]
Publisher’s Letter: Demand never sleeps
FACILITIES NEEDED DESPITE ‘PERFECT STORM’ By Murray W. Wolf, Publisher Dear Reader: The question we have been asked most frequently in recent months has probably been, “When do you think healthcare real estate development and monetization activity will rebound?” Folks recall wistfully the boom of the early to mid-2000s, before the capital crisis, Great Recession […]
Product Focus: Is off-campus the new on-campus?
INVESTORS’ VIEWS OF THE ‘BEST’ MOBS MIGHT BE CHANGING, BOMA PANEL SAYS By Murray W. Wolf Is off-campus the new on-campus for healthcare real estate investors? Not long ago, one of the unwritten laws of medical office building (MOB) investing was that on-campus MOBs were almost invariably more desirable than comparable off-campus facilities. Sure, investors […]
Special Report: Capital markets are stable – for now
BOMA PANEL PONDERS DEBT, EQUITY, CONSOLIDATIONS, MONETIZATIONS, MORE By Murray W. Wolf. After two difficult years, the current capital market environment for healthcare real estate might not be the “new normal,” as some have suggested. But prevailing conditions with respect to debt and equity markets, capitalization rates, and interest rates are likely to remain at […]
Special Report: Ventas looks to grow MOB platform
CEO DEBRA CAFARO TALKS ABOUT RECENT ACQUISITIONS, REIT’S FUTURE PLANS By John Mugford In early 2011, Chicago-based Ventas Inc. (NYSE: VTR) made quite a news splash when it entered an agreement to acquire another large, publicly traded healthcare real estate investment trust (REIT), Newport Beach, Calif.-based Nationwide Health Properties Inc. (NYSE: NHP). By summer, the […]
People: RTKL promotes five in healthcare to new positions
JUPITER, Fla. – Jupiter-based VERSA Property Management recently appointed Michelle McCartney as property manager. Ms. McCartney will oversee the day-to-day operations of VERSA’s Illinois properties, as well as its properties in Ohio, Missouri and New York. Ms. McCartney comes to VERSA with a total of 15 years of property management experience, six of which involved […]
Companies: Cain Brothers represents VHS in deal
PUBLICLY TRADED VANGUARD ACQUIRES MAJORITY INTEREST IN TEXAS SYSTEM By John Mugford Acquisitions of independent hospitals by larger companies and health systems are continuing at a rapid pace. In a recent example, Nashville, Tenn.-based Vanguard Health Systems (NYSE: VHS), a publicly traded system with 26 hospitals and complementary facilities nationwide, acquired a 51 percent interest […]
Companies:Virtua Voorhees hospital now open
HAMMES, TURNER, HGA LEAD PROJECT TEAM FOR $463M NEW JERSEY FACILITY By John Mugford What is being billed as the “hospital of the future” because of its emphasis on technology and safety opened recently in Voorhees, about 20 miles southeast of Philadelphia. The new 368-bed Virtua Voorhees hospital opened May 22 after more than 10 […]
Inpatient Projects: Mercy reveals $950M Joplin makeover
PLAN WOULD REPLACE, EXPAND MED CENTER DESTROYED BY EXTREME TORNADO By John Mugford The ABC TV reality show “Extreme Makeover: Home Edition” is scheduled to rebuild “multiple homes” in tornado-ravaged Joplin, Mo., next month. An EF5 tornado – the fiercest category – which ripped through the southwestern Missouri community May 22, killed scores of people […]
Outpatient Projects: NexCore’s N.Y. project on track for ‘12
$30 MILLION, THREE-STORY, 85,000 SQUARE FOOT FACILITY IS BEING BUILT FOR UHS By John Mugford All of the structural steel is in place for a future 85,000 square foot outpatient facility in Vestal, N.Y., located in the south-central part of the state, about 110 miles south of Syracuse. Denver-based NexCore Group is the developer of […]
Outpatient Projects: Frauenshuh, Franciscan team for MOB
120,000 S.F. FACILITY UNDER WAY ON ST. JOSEPH CAMPUS IN TACOMA, WASH. By John Mugford Consolidating doctors currently scattered in various locations near and on a large hospital campus is one of the major drivers of a future $62 million medical office building (MOB) and parking garage project now under construction in Tacoma, Wash. The […]