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Industry Pulse: November 2005
INDIANAPOLIS – As this edition of Healthcare Real Estate Insights™ was about to go to press, we learned that Windrose Medical Properties Trust (NYSE: WRS) has agreed to acquire 22 properties for a total of about $241 million. The sellers are various limited partnerships associated with medical real estate developer Bruce A. Rendina and Rendina […]
Market Focus: Providers are racing for profits in Indy
HOOSIER HEALTH SYSTEMS LOOK TO OTHERS’ TURF TO REV UP MARKET SHARE By John Mugford For as long as folks familiar with the Indianapolis healthcare scene can remember, the metropolitan area’s four major hospital systems operated on somewhat friendly terms. That’s because each stayed within its own turf. For years, Indy’s healthcare scene looked like […]
Project Case Study: Historic hospital adapts to new needs
SHEPPARD PRATT UPGRADES VENERABLE PSYCHIATRIC FACILITY IN MARYLAND By Jessica Griffith A 19th century vision of humane care for the mentally ill will continue into the new millennium, thanks to an expansion and renovation of the 114-year-old Sheppard and Enoch Pratt Hospital in Towson, Md. The $92 million, five-story hospital is located next to the […]
Product Focus: Behavioral health facilities in demand
REAL ESTATE DEMAND IS CATCHING UP WITH SUPPLY FOR RE-EMERGING INDUSTRY By Jessica Griffith The number of freestanding behavioral health hospitals in the United States stands at 500, virtually unchanged from a decade ago. However, demand is catching up with supply and the market is hot for acquisitions. Plus, new construction is beginning to surface. […]
Provider Profile: Old nemesis now a potential partner
MEDCATH SHIFTS ITS STRATEGY IN WAKE OF SPECIALTY HOSPITAL MORATORIUM By Beth Mattson-Teig Prior to late 2003, many hospitals across the country probably viewed Charlotte, N.C.-based MedCath Corp. (Nasdaq: MDTH) as the enemy – a major competitor to their cardiovascular services. These days, however, MedCath is hoping some of those same hospitals take a second […]
News & Analysis: Novant to sell $100 million+ portfolio
MEANWHILE, BAPTIST DEAL IS NEARLY DONE; COULD FETCH ALMOST $60 MILLION By Murray W. Wolf Novant Health Inc. of Winston-Salem, N.C., plans to sell seven medical office buildings (MOBs) totaling more than 700,000 square feet, a portfolio that will probably fetch more than $100 million. That’s according to a principal with the investment bank that […]
Publisher’s Letter: Ground floor opportunity
Dear Reader: Wolf Marketing & Media, the publisher of Healthcare Real Estate Insights™, will soon launch two exciting new publications that will help you to profit from two more emerging real estate niches. Bioscience Real Estate Insights™ will cover real estate news and trends in the huge, fast-growing bioscience industry and Education Real Estate Insights™ […]
News & Analysis: Katrina’s consequences
FATE STILL FOGGY FOR GULF COAST MED FACILITIES By John Mugford Hurricane Katrina struck more than a month ago. Yet, the future of many affected healthcare facilities – and the implications for the Gulf Coast medical real estate market – remain difficult to forecast. The massive hurricane’s eye made landfall near New Orleans on Aug. […]
Financing & Investment: CNL and Cirrus team up
FIVE YEARS OR $1 BILLION, WHICH EVER COMES FIRST By Murray W. Wolf CNL Retirement Properties Inc., which in August 2004 acquired 55 percent of DASCO Cos., is teaming with another medical real estate developer to invest up to $1 billion in medical real estate during the next five years. Nothing has been formally announced, […]
Industry Pulse: October 2005
SPRINGFIELD, Ohio – Community Mercy Healthcare Partners has reached an agreement with local officials on a 45-acre site for a $280 million healthcare campus that the provider plans to build in this west-central Ohio city. The new hospital would be the result of a merger between two long-time Springfield providers: Springfield Community Hospital and Mercy […]
Financing & Investment: HCP makes $252 million acquisition
HEALTH CARE PROPERTY INVESTORS BUYS 12 ASSETS FROM AEGIS AND OAKMONT By Murray W. Wolf Health Care Property Investors Inc. (NYSE: HCP) has acquired 12 independent and assisted living facilities in Washington, California and Nevada from Redmond, Wash.-based Aegis Living LLC and Santa Rosa, Calif.-based Oakmont Senior Living LLC. The acquisition includes 10 Aegis and […]
Project Study: Sutter’s ‘soothing’ business strategy
CALIFORNIA PROVIDER USES DESIGN TO LURE PATIENTS, PHYSICIAN PRACTICES By Jessica Griffith Art and poetry intertwine with medicine and surgery in a new healthcare complex developed by Sutter Health, the northern California-based healthcare powerhouse. This mix of the arts and healthcare is taking place on the Sutter Fairfield Medical Campus in Fairfield, Calif., halfway between […]
Market Focus: San Diego healthcare forecast is sunny
$2 BILLION+ IN MEDICAL REAL ESTATE PROJECTS ARE UNDERWAY OR PLANNED By John Mugford Decades ago, San Diego was a bit of a secret paradise that played second fiddle to its mega-sized neighbor to the north, Los Angeles. However, wonderful year-round weather, plenty of ocean activities, and a typically robust economy eventually blew the lid […]
Company Profile: Iowa Health taps economies of scale
STATEWIDE NETWORK CREATES EFFICIENCIES FOR HOSPITALS, AFFILIATES By Beth Mattson-Teig For more than a decade now, Iowa Health System has been out to prove that at least one old adage is correct: “The whole is greater than the sum of its parts.” As the dominant healthcare provider in the state, Des Moines-based Iowa Health System […]
News & Analysis: Inland Empire is attracting investment
CALIFORNIA REGION HAS NEARLY $2 BILLION IN MEDICAL PROJECTS IN THE WORKS By Brian Busek When one looks for the big action in medical real estate in California, the gaze typically runs along the coast line from the San Francisco Bay down to Los Angeles and into San Diego. Travel east from the salt spray, […]