News Release: Clarion Partners acquires 10 Brookline Place in Boston’s Longwood medical and academic area
October 24, 2013 For Immediate Release Clarion Partners, a leading real estate investment manager, today announced the acquisition of 10 Brookline Place in Brookline, MA for $121.0 million. The six-story, 173,439 square foot office building serves as the southwest gateway to the Longwood Medical and Academic (LMA) area of Boston. Clarion purchased 10 Brookline Place […]
News Release: AW Property Co. sells six-building MOB portfolio for $63 million
AW Property Co. is pleased to announce the disposition of a six-building, 428,000 square foot, on-campus medical office building portfolio located throughout South Florida. Transaction Overview Healthcare Real Estate Capital (“HRE Capital”), as exclusive financial advisor to AW Property Co. (“AW”), is pleased to announce the disposition of a six-building, 428,000 square foot, on-campus medical […]
Cover Story: A grand bargain in L.A.
MOB sale shatters $1,000 per square foot barrier By John B. Mugford The buyer, Montecito Medical Investment Co., says the MOB merits the lofty price. John B. Mugford The average price per square foot (PSF) that MOB investors have paid so far in 2013 is right around $208 – that’s for transactions of more than […]
Transactions: HTA lands off-market deal in Florida
Publicly traded REIT buys six on-campus buildings from joint venture for $63M By John B. Mugford Healthcare Trust of America Inc. went fishing in South Florida and came away with a nice prize catch, a portfolio of six on-campus medical office buildings (MOBs). The Scottsdale, Ariz.-based publicly traded real estate investment trust (REIT) spent about […]
Transactions: ‘Health city’ in Florida fetches nice price
Health Care REIT pays $49.5million for medical mall that includes extra land By John B. Mugford In an example of how demand remains strong for high-quality, hospital-affiliated medical office buildings (MOBs), a joint venture (JV) partnership has garnered a double-digit profit in selling an Florida outpatient complex it acquired just two years ago. Toledo, Ohio-based […]
Transactions: Developer sells newly developed MOB for $21.85M in New Jersey
CHERRY HILL, N.J. – In May, Healthcare Real Estate Insights™ reported that a sale was pending for the newly developed LourdesCare at Cherry Hill, a 54,000 square foot outpatient center in the Philadelphia suburbs. That sale has indeed taken place, as the U.S. Healthcare Capital Markets Group of CBRE Group Inc. recently reported that the […]
Transactions: Harrison Street makes another acquisition in Twin Cities market
BURNSVILLE, Minn. – Chicago-based Harrison Street Real Estate Capital LLC recently made its second large medical property investment in the Twin Cities area of Minneapolis-St. Paul.
Transactions:California health district buys building housing its wellness center
CARLSBAD, Calif. – In an effort to save money over the long haul, Oceanside, Calif.-based Tri-City Healthcare District recently purchased an MOB complex in Carlsbad that houses its wellness and wound care programs. The public healthcare district paid $47 million for the facility, which was sold by private development firm ECR Corporate Center. The 58,000 […]
Transactions: Medical office building in Fayetteville, Ga., trades for $15.9 million, or $256 PSF
FAYETTEVILLE, Ga. – FCH Medical Building, a 62,106 square foot MOB in Fayetteville, traded in July for
Transactions: MVP REIT acquires Las Vegas medical and professional building for $15 million
LAS VEGAS – MVP REIT Inc., a non-traded REIT that is focusing on acquiring office buildings, storage facilities and parking structures in the West and Southwest, recently closed on the purchase of a 47,501 square foot medical and professional building in Las Vegas. The Las Vegas-based REIT paid
Transactions: Canadian firm Talia Jevan Properties makes second U.S. acquisition
PHOENIX – Talia Jevan Properties has made its second “Class A” property investment in the United States, acquiring the 81,875 square foot, five-story Lifeprint Health Center in Phoenix for $20.5 million. The seller was
Transactions: More HRE Transactions
■ ARC Healthcare Trust II Inc. of New York recently paid
Hot Property: Location is key for California MOB
Redevelopment of adjacent hospital could add value to 99% leased facility Name: Freeman Medical Towers Address: 323 N. Prairie Ave. City: Inglewood, Calif. Size: 79,428 square feet (rentable) Number of floors: Four Lot size: 1.4 acres Occupancy: 99% Seller: Grabel Financial LLC & Linton Financial LLC Largest tenant: Didi Hirsch Mental Health Services (45%) Buildings […]
Industry Pulse: NexCore nabs Jones Lang Lasalle’s hot property
Denver-based firm agrees to acquire California and Arizona MOB portfolio for $114 million A recent U.S. Securities and Exchange Commission (SEC) filing reveals that NexCore Development LLC has agreed to acquire the 13 buildings being offered for sale by Jones Lang LaSalle (JLL) Income Property Trust Inc. as part of the so-called Dignity Health Medical […]
News Release: Holladay negotiates lease with Loyola University Medical Center
Holladay Properties is pleased to announce a new lease with Loyola University Medical Center in Oak Brook Terrace, Ill. at the Oak Brook Terrace Medical Center located at 1S224 Summit Avenue in Oak Brook Terrace. Holladay Properties provides leasing and property management services for this 92,000 square foot, two building medical campus owned by HCP, […]