Capital Markets: Spotlight on Cypress West Partners
Chris Cumella reviews the MOB market, their place in it and recent deals By Erik Tellefson In this month’s “Spotlight on” feature we are continuing to focus on private medical office building (MOB) investors, and discussing the overall market and some recent transactions with Chris Cumella of Rancho Santa Margarita, Calif.-based Cypress West Partners (CWP).
Post-Acute & Senior Living: Developer proposes senior campus to replace office in Westchester County, N.Y.
RYE BROOK, N.Y. – A local developer has proposed to raze a mostly vacant office building on a 17.3-acre site in Rye Brook to make way for a 269-unit senior housing campus with townhouses, apartments and assisted living units, according to the local Westchester County Business […]
Hot Property: A small gem in the San Gabriel Valley
Fully occupied MOB in West Covina, Calif., is within two miles of 238 restaurants Name: West Covina Medical Square Address: 1500 block W. Garvey Ave. N. West Covina, Calif. No. of buildings: 2, Square feet: 22,564 Occupancy: 100 percent, Number of tenants: Five Avg. remaining lease term: 4.79 years Brokerage: CBRE SoCal Investment Properties Brokers: Gary P. Stache, […]
Companies & People: Hammes Company hires former health system director of design and construction
In more news from Hammes Company, the Brookfield-based firm has hired a health system executive as part of its Columbus, Ohio, office. Douglas Coover, previously the director of director of design and construction at a four-hospital East Coast system, joined Hammes as VP of facility development.
Finalists: HRE Executive of the year
John S. Trabold III Managing Director, Director of Health Services, VMG Health A respected expert in the healthcare real estate (HRE) sector for more than 30 years, especially in Stark and Anti- Kickback, valuation and Fair Market Value,
Post-Acute & Senior Living: Caddis’ Heartis brand continues its Midwest expansion with a senior project in Wisconsin
GLENDALE, Wis. – Dallas-based Caddis, under its Heartis brand, has started the development of its project in Wisconsin. The 105 unit, 96,770 square foot Heartis Village North Shore, in the Milwaukee suburb of Glendale, is expected to open in early 2019.
Finalists: Best New Mob – UPMC Outpatient Center, Allison Park, Pa.
Developer: University of Pittsburgh Medical Center Described by UPMC officials as “a hospital without beds,” the UPMC Outpatient Center in Hampton Township opened in August 2017.
Finalists: HRE Executive of the year
James A. Schmid III Chief Investment Officer, Anchor Health Properties Since joining Anchor Health Properties mid-2016, James Schmid has taken charge of the firm’s sourcing, investment analysis, investments and acquisitions.
Companies & People: NexCore Group hires two design and construction veterans during a time of growth
Denver-based NexCore Group recently hired design and construction veterans Rob Stieg and Kyle Robbins.
Post-Acute & Senior Living: Select Medical to open LTACH inside Missouri Baptist Medical Center in St. Louis
ST. LOUIS – Mechanicsburg, Pa.-based Select Medical Corp. (NYSE: SEM) recently announced that it will reconfigure space and open a long-term acute care hospital (LTACH) inside Missouri Baptist Medical Center in St. Louis.
Finalists: Best New Mob – Good Samaritan Medical Pavilion, Los Angeles
Developer: Good Samaritan Hospital Due to the project’s scale, the city directed plan review to OSHPD’s Sacramento office, which lengthened the project schedule. To offset time for additional scrutiny, the team coordinated with multiple city agencies for off-hours inspections. A new surgery center nearly doubles Good Sam’s outpatient surgical capacity and includes operating rooms large […]
Post-Acute & Senior Living: ESI arranges sale of Wisconsin community based residential facility near Milwaukee
GREENDALE, Wis. – In more news from Wisconsin, Evans Senior Investments (ESI) recently announced that it represented an independent seller in the sale of Clifden Court, a 92-unit community based residential facility (CBRF) in Greendale.
Finalists: Best New Mob – Ochsner Medical Complex – River Parishes, La Place, La.
Developer: Stirling Properties When Ochsner Health System took over the aging 106-bed River Parishes Hospital in 2014, it had a 90 percent vacancy rate.
Post-Acute & Senior Living: Brea, Calif., approves plans for two-story, 29,500 sq. ft. Silverado memory care community
BREA, Calif. – The Brea Planning Commission recently voted 5-0 to approve a conditional use permit clearing the way for Irvine, Calif. based Silverado Residential Care to develop a two-story, 39-unit, 29,448 square foot residential memory care facility.
Outpatient Projects: Seavest completes renovations and renames MOBs it owns on campus in Fairfax, Va.
FAIRFAX, Va. – White Plains, N.Y.-based Seavest Healthcare Properties LLC recently completed $1.7 million worth of renovations at its the two-MOB complex on the campus of the 182 bed Inova Fair Oaks Hospital in Fairfax,