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Inpatient Projects: Baylor St. Luke’s begins expansion
$1.1 billion, 1.2 million square foot medical campus to be completed in 2019 By Connie M. McCaffrey The joint venture (JV) partnership of Houston-based CHI St. Luke’s Medical Center and the Baylor College of Medicine recently began development of a new $1.1 billion, 1.2 million square foot McNair Campus on a 27.5-acre plot on the […]
Inpatient Projects: Santa Clara, Calif., squabble settled; Turner back at work on expansion; cost now $560 million
SANTA CLARA, Calif. – Construction delays, rising costs and a “toxic” relationship between the client and some members of the project team led to litigation last year regarding the expansion of county-owned Valley Medical Center in Santa Clara, according to the Silicon Valley Business Journal.
Post-Acute & Senior Living: Balfour Senior Living submits plans for $35 million, 154-unit community in Ann Arbor, Mich.
ANN ARBOR, Mich. – Balfour Senior Living recently submitted plans for a $35 million, 154-unit, four-story, 183,000 square foot upscale independent and assisted living community in Ann Arbor, according to local news site MLive.com.
Post-Acute & Senior Living: Omega Communities plans $45 million CCRC in Stockbridge, Ga., southeast of Atlanta
STOCKBRIDGE, Ga. – Omega Communities recently announced plans for a $45 million continuing care retirement community (CCRC) in Stockbridge, about 20 miles southeast of Atlanta.
REIT Report: Duke Realty bullish on MOB sector
Its development pipeline ‘has probably never been healthier,’ REIT execs say By John B. Mugford During the recent fourth quarter (Q4) earnings conference call with Duke Realty (NYSE: DRE), securities analyst David Toti of Cantor Fitzgerald asked if uncertainty about the upcoming election and its possible impact on healthcare reform was causing any “hesitation” on […]
Industry Pulse: On the Record – Thomas Rizk
Why is Rizk Ventures investing in hospital facilities in Colombia? “Colombia has a significant shortage of hospital beds, with many leading hospitals seeking expansion capital. This has created an opportunity to develop a robust pipeline of sale-leaseback opportunities.” Thomas Rizk, Co-Founder, Chairman and CEO of New York-based Rizk Ventures LLC. Rizk Ventures and joint venture […]
Publisher’s Letter: Introducing Newsbreak – A more efficient strategy for HRE news coverage
Dear Reader: The media world has changed dramatically in recent years – and keeps on changing. So, after much consideration, the editorial team at Healthcare Real Estate Insights™ recently decided we needed to change how we create and deliver some of our editorial content, introducing a new editorial feature called Newsbreak.
Capital Markets: Consider risk-adjusted pricing
Lenders that offer it can be a good option for medical office building financing By Erik Tellefson Risk-adjusted pricing is pricing that is commensurate with a lender’s level of perceived risk in a transaction. Typically, the lender’s level of perceived risk for the purposes of risk-adjusted pricing is related to leverage or the amount of […]
Post-Acute & Senior Living: Florida portfolio sells for $569M
Welltower-CPPIB joint venture takes 95% of six Aston Gardens assets By Murray W. Wolf Welltower Inc. (NYSE: HCN) has partnered with the Canada Pension Plan Investment Board (CPPIB) and Discovery Senior Living to acquire the six-property, 1,930-unit Aston Gardens independent and assisted living portfolio in Florida for $569 million. The Toledo, Ohio-based healthcare real estate […]
Post-Acute & Senior Living: Historic former school to be transformed into 152 units of senior housing under $35M plan
LEESBURG, Va. – A former school in Leesburg is being transformed into a $35 million, 152-unit memory care, assisted living and independent living community, according to the local Daily Commercial newspaper.
Industry Pulse: Theaters and Borax – Kaiser Gets Creative
Provider sees opportunities in former theater, office building During the past several years, perhaps no healthcare provider or HRE firm has repurposed or redeveloped more properties than Kaiser Permanente. Recently, the Oakland, Calif.-based managed care consortium was at it again, with two more creative adaptive reuse projects in its home state.
Industry Pulse: Providers Discuss Thin Margins, Building Boom
Operating costs are high, margins are thin and upgrades are expensive, providers say At two recent Bisnow healthcare real estate events on the East Coast, the providers on the agenda said that operating costs are high, margins are thin, and the need to continuously improve facilities to compete and stay current is expensive.
Companies & People: Moving deeper into healthcare
Net-lease broker Stan Johnson Co. beefs up the team started by Toby Scrivner By John B. Mugford When Toby Scrivner joined the Stan Johnson Co. in Tulsa, Okla., 10 years ago, he was ready and willing to start selling industrial, retail and office net-leased properties nationwide, just like the firm’s other talented brokers.
News Release: Duke Realty to develop 80,000-square-foot Centegra Health MOB in Huntley, Ill.
Medical office building will house physicians and staff from Northern Illinois Medical Center, Rosalind Franklin University of Medicine and Science, and other healthcare tenants VILLAGE OF HUNTLEY, Ill., and INDIANAPOLIS, Feb. 24, 2016 – Duke Realty, an Indianapolis-based commercial real estate developer, will develop an 80,000-square-foot, four-story medical office building for Centegra Health in the […]
Transactions: Private equity firm acquires Kindred MOB for $25.16 million
Healthcare Real Estate Insights™ has learned that Syndicated Equities, a private real estate investment firm with offices in Chicago and Washington, recently closed on the $25.16 million acquisition of the Kindred Healthcare Transitional Care Center (TCC), a three-story, 81,371 square foot, single-tenant medical office building (MOB) in Phoenix. The sale price works out to $309 per […]