Transactions: MOB sales strong in Q4 2016
Bolstered by a big portfolio sale, quarter’s MOB volume hit $3.33 billion By John B. Mugford Commercial real estate brokers are known to say that sales of medical office buildings (MOBs), as well as other types of commercial real estate, typically pick up in the final quarter of most years. That was certainly the case […]
Transactions: Welcome back, TopMed team
Former ProMed Properties executives make first acquisition as new company By John B. Mugford For a time, between 2006 to 2012, New York-based ProMed Properties was a significant owner of medical office and healthcare properties up and down the East Coast. During that half dozen years or so, ProMed, a subsidiary of Tel Aviv, Israel-based […]
Transactions: LaSalle acquires 150,000 s.f. MOB
Price was $81.8 million for repurposed former retail store in Cherry Hill, N.J. By John B. Mugford When Bethesda, Md.-based Finmarc Management Inc. acquired a vacant Syms department store building on an 11-acre in a heavily trafficked area of Cherry Hill, N.J., for $4.75 million in 2013, it had a number of options for transforming […]
Transactions: LaSalle acquires 150,000 s.f. MOB
Price was $81.8 million for repurposed former retail store in Cherry Hill, N.J. By John B. Mugford When Bethesda, Md.-based Finmarc Management Inc. acquired a vacant Syms department store building on an 11-acre in a heavily trafficked area of Cherry Hill, N.J., for $4.75 million in 2013, it had a number of options for transforming […]
Hot Property: Miami MOB is in high barrier market
Mercy Medical Arts Building, completed in late 2016, is a value-add offering Name: Mercy Medical Arts Building Address: 3683 S. Miami Ave. Location: Miami Year built: 2016 Square feet: 115,920 Occupancy: Vacant Stories: 5 Seller: Undisclosed Brokerage: JLL Brokers: Steve Leathers, Mindy Berman, Daniel Turley and Brian Bacharach The campus of the 488-bed Mercy Hospital […]
Transactions: Flagship Healthcare Properties buys MOB for $13.9M in Rome, Ga.
ROME, Ga. – Charlotte, N.C.-based Flagship Healthcare Properties recently acquired a fully occupied MOB in Rome, a city of about 40,000 residents at the foot of the Appalachian Mountains some 60 miles northwest of Atlanta.
Transactions: Welcome back, TopMed team
Former ProMed Properties executives make first acquisition as new company By John B. Mugford For a time, between 2006 to 2012, New York-based ProMed Properties was a significant owner of medical office and healthcare properties up and down the East Coast.
Transactions: Physicians Realty Trust makes a number of buys in late 2016, early 2017
MILWAUKEE – Milwaukee-based Physicians Realty Trust (NYSE: DOC) made big headlines in mid-2016, closing on the largest health system monetization, or sale, of an MOB portfolio ever recorded.
Transactions: Starwood’s $796.6M deal closes
Transaction was finalized just before year-end, making it the biggest deal of 2016 By John B. Mugford Just days before the end of 2016, the largest medical office building (MOB) deal of the year closed with a few days to spare.
News Release: Hanley Investment Group arranges sale of 156,000 sf mixed-use retail center for $62 million in Arcadia, Calif.
Posted on February 24, 2017 Retail, Office and Medical Complex Sells for Nearly 98% of Asking Price CORONA DEL MAR, CALIF. – Hanley Investment Group Real Estate Advisors, a nationally-recognized real estate brokerage and advisory firm specializing in investment property sales, announced today that the firm arranged the sale of Arcadia Gateway Center, a 156,046-square-foot, […]
News Release: HFF closes $17 million sale of Philadelphia medical office portfolio anchored by Thomas Jefferson University Hospital
PHILADELPHIA, PA – February 21, 2017 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has closed the $17 million sale of two medical office buildings totaling 86,000 square feet and anchored by Thomas Jefferson University Hospital (Moody’s, A2) in Philadelphia, Pennsylvania. HFF marketed the properties on behalf of an affiliate of George Comfort […]
News Release: Steward Health Care to Acquire Eight Hospitals from Community Health Systems
NEWS PROVIDED BY Steward Health Care System Feb 16, 2017, 16:15 ET BOSTON, Feb. 16, 2017 /PRNewswire/ — Steward Health Care System (“Steward”) today announced it has signed an Asset Purchase Agreement to acquire eight community hospitals affiliated with Community Health Systems (“CHS”). The transaction is expected to close in the second quarter of 2017, subject […]
News Release: Community Health Systems Announces Definitive Agreement to Divest Eight Hospitals – Three in Florida, Three in Ohio and Two in Pennsylvania
FRANKLIN, Tenn.–(BUSINESS WIRE)–Feb. 16, 2017– Community Health Systems, Inc. (NYSE:CYH) announced today that subsidiaries of the Company have signed a definitive agreement to sell eight hospitals and their associated assets to subsidiaries of Steward Health Care LLC. Facilities included in the transaction are 119-bed Wuesthoff Health System-Melbourne in Melbourne, Fla.; 298-bed Wuesthoff Health System-Rockledge in […]
News Release: Medical Office Sales at Near Record in 2016
JLL research reports that medical office sales in 2016 were $7.64 billion, the second highest year on record, following the breakout year of 2015 with $9.03 billion in sale volume. Sales Highlights Key Points: Sales of medical office buildings and outpatient care facilities exceeded all prior years except for 2015, providing solid support to the […]
Thought Leaders: Marcus & Millichap Medical Office Research National Report “2017 Outlook”
Generational Differences Driving Growth, Advancement in Today’s Medical Office Market Generational cohorts create diverging trends in healthcare. The aging U.S. population, combined with emerging differences in the way generations process healthcare information, have been signifi cant drivers in the nation’s healthcare industry. As the 65-and-older age segment increases by 20 million individuals over the next 10 years, demand for healthcare services […]