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Outpatient Projects: Rendina Cos. developing MOB in S.C.
By John B. Mugford The one-stop shopping concept for outpatient healthcare facilities is coming to the Bluffton and Hilton Head Island area of South Carolina. In recent weeks, Jupiter, Fla.-based Rendina Cos., a healthcare real estate and development firm, broke ground in Bluffton on a $16 million, 60,000 square foot outpatient facility that will offer […]
Hot Property: On-Campus Portfolio Offered in Tenn.
Four MOBs are on the campuses of three Tennova Healthcare system hospitals Name: Tennova MOB Portfolio Number of Buildings: 4 Locations: Tennessee cities of Knoxville, Jefferson City and Powell (2) Size: 204,000 square feet Asking Price: $53.4 million Price Per Square Foot: $261.7 Cap Rate: Not disclosed Years Completed: 2003-07 Annual NOI: Not disclosed Seller: […]
Transactions: More HRE Transactions
With the signing of a new tenant to a 20,000 square foot, 10-year lease, Nashville, Tenn.-based Healthcare Realty Trust (NYSE: HR) has taken Hale Pawa’a, the nine-story, 124,000 square foot MOB it developed in Honolulu in 2010, closer to full occupancy. As of October, reports indicated that the MOB in the heart of Honolulu was […]
Transactions: 1031 Buyers Pay $14.1 Million for MOB in Charlotte Suburb
MINT HILL, N.C. – A New York-based 1031 exchange investment group recently paid $14.1 million for a 42,300 square foot medical facility in Mint Hill, a Charlotte, N.C., suburb. That price works out to about $334 PSF. According to news reports, the seller was the developer of the building, Mint Hill-based Sageworth Properties LLC. Glen […]
Transactions: JV partnership lands MOB for $19.25 million in Claremont, Calif.
CLAREMONT, Calif. – An off-campus MOB in Claremont that is anchored by a hospital in a nearby town traded hands in recent days, fetching a price of $19.25 million, or $393 PSF. The building has 48,984 square feet of space, is 89 percent leased and anchored by nearby Pomona Valley Hospital Medical Center. The seller, […]
Transactions: Health Care REIT Inc. buys MOB outside of Baltimore for $20.6 million, or $367 PSF
COLUMBIA, Md. – Toledo, Ohio-based Health Care REIT Inc. (NYSE: HCN) recently aquired the Charter Professional Builing in Columbia. The real investment trust (REIT) paid $20.6 million for the three-story, 56,103 square foot building, about $367 PSF Marketing the building for the seller, a partnership of physicians known as Aequus I LLC, was Colliers International-Baltimore. Columbia […]
Transactions: Seavest, KIRCO Team for Another Buy
Partners acquire second large multi-specialty outpatient center in Detroit area By John B. Mugford The potential success, or lack thereof, of an off-campus medical office building (MOB) often hinges on a number of factors, with location perhaps being highest on the list. As far as officers with White Plains, N.Y.-based Seavest Healthcare Properties LLC are […]
Transactions: HTA Lands MOB on Doc-Owned Campus
REIT caps quarter with $26.75 million acquisition of Forest Park Pavilion in Dallas By John B. Mugford Forest Park Medical Center in Dallas has to be considered one of the biggest success stories when it comes to beating the odds in the world of new hospital development. That’s because the relatively new hospital, which opened […]
Thought Leaders: MOB Trades Set Record in Annual Transaction Volume
HAMMOND HANLON CAMP LLC Medical Office Building Quarterly Update 2012 was a record-setting year for MOB transaction volume, with nearly $5.57 billion in recorded transaction volume disclosed for the year, the highest of any year since Real Capital Analytics began tracking the data in 2002. The 2012 annual volume total was higher than the total […]
Thought Leaders: The Impact of the Affordable Care Act
By Mark Engstrom Executive Vice President, Acquisitions Healthcare Trust of America, Inc. Healthcare Trust of America, Inc. (“HTA”) is taking note of last year’s most significant events and what impact these will have upon health care delivery in 2013 and beyond. Without question, the most notable event of last year was the Supreme Court decision […]
Industry Pulse: HEALTHCARE SPENDING SET TO REALLY TAKE OFF
Lest anyone forget what a meteoric rise is expected to take place in healthcare spending in coming years, a recent report spells it out rather clearly. Healthcare stocks have been on an impressive run to start 2013, Research Driven Investing at www.RDInvesting.com notes in a recent report. The firm says that the Centers for Medicare […]
Industry Pulse: MEDICAL PROPERTIES PART OF COMPANY ACQUISITION
When Realty Income Corp. (NYSE: O) closed on its $1.9 billion acquisition of American Realty Capital Trust (ARCT) in January, it received more than 500 properties as part of the purchase. In closing the deal, Escondido, Calif.-based Realty Income Corp., which owns more than 3,500 properties, also became an owner of some medical office buildings […]
Industry Pulse: 1$ BILLION YEAR AHEAD FOR ARC HEALTHCARE?
There’s no doubt that 2012 was a big year for American Realty Capital (ARC) Healthcare Trust. In fact, the New York-based, non-traded real estate investment trust (REIT) both raised and then invested more than $500 million on medical office buildings (MOBs), seniors housing properties and post-acute facilities. Yet the REIT’s officers say this year will […]
Industry Pulse: On The Record
Who is raising the most capital to buy MOBs? “The public healthcare REITs raised more money than any other REIT sector last year and the private REITs are raising tens of millions of dollars each day (to acquire MOBs).” Jim Kornick Managing Director Avison Young
Industry Pulse: ROCHESTER, MINN., TRYING TO HOLD (ONTO) THE MAYO
In cities large and small, hospitals and health systems are quite often a source of good-paying jobs and an important cog in the local economy. Nowhere, however, might a provider’s local impact be more prevalent than in Rochester, Minn., where the renowned 148-year-old Mayo Clinic touches just about everything and everyone. In the southeastern Minnesota […]