Transactions: Seavest makes buys in Alabama, Conn.
ACQUISITIONS MARK THE FIRST FOR COMPANY SINCE 2008; MORE ARE IN PIPELINE By John Mugford On the surface, it might have looked as if White Plains, N.Y.-based Seavest Inc. laid low during the throes of the recession and the constrained capital market, waiting for better times and more opportunities to invest in medical office building […]
Transactions: Lillibridge makes buy under Ventas
COMPANY SPENDS $36.6 MILLION FOR FIVE ON-CAMPUS MOBs IN WISCONSIN By John Mugford When well-capitalized Chicago-based Ventas Inc. (NYSE: VTR) acquired its down-the-street neighbor, Lillibridge Healthcare Services Inc., earlier in 2010, an executive with the publicly traded real estate investment trust (REIT) said there would likely be some medical office building (MOB) acquisitions in the […]
Companies: Firm buys doc-owned Houston hospital
NORVIN PARTNERS ACQUIRES REAL ESTATE, ARRANGES JOINT VENTURE OPERATOR By John Mugford In a deal put together by New York-based Norvin Properties and its managing partner and founder, Norman K. Livingston, Houston-based St. Luke’s Episcopal Health System recently acquired 51 percent of a new joint venture that is operating Patients Medical Center (PMC) in Pasadena, […]
Transactions: HTA closes on more MOB acquisitions
PACE OF PURCHASES, CONTRACTS SOARS IN PAST MONTH; $800M YEAR IN SIGHT By John Mugford Sorting through the numerous acquisitions and purchase agreements that Scottsdale, Ariz.-based Healthcare Trust of America Inc. (HTA) has made or entered in the last month can get complicated. That’s because the healthcare-focused real estate investment trust (REIT) has gone on […]
Transactions: Medical portfolio selling for $470M
SENIOR HOUSING PROPERTIES TRUST AGREES TO BUY 27 BUILDINGS IN 12 STATES By John Mugford When Seniors Housing Properties Trust was spun out of HRPT Properties Trust in 1999 as a publicly traded healthcare real estate investment trust (REIT), it retained the right of first refusal on a number of medical properties that HRPT – […]
Transactions: Hines closes on $97.9M acquisition
SUBSIDIARY BUYS DUKE UNIVERSITY-ANCHORED HOCK PLAZA I IN DURHAM, N.C. By Murray W. Wolf Hines Global REIT Properties LP recently closed on the previously announced acquisition of the 12-story, 327,160 square foot (rentable) Hock Plaza I at 2424 Erwin Rd. in Durham, N.C. The net purchase price was $97.9 million, exclusive of transaction costs, financing fees […]
News & Analysis: MOB sales jumped in Q3
VOLUME TOPPED $1 BILLION; FIRST TIME SINCE Q2 2008 By John Mugford Anyone hoping for a bounce back in medical office building (MOB) sales starting in the second half of 2010 certainly got what they wished for. For the third quarter (Q3), which ended Sept. 30, MOB sales totaled $1.083 billion, according to data compiled […]
Transactions: Rendina Cos. acquires MOB in Illinois
FIRM BUYS PROPERTY ON PROVENA SAINT JOSEPH MEDICAL CENTER CAMPUS By John Mugford Jupiter, Fla.-based Rendina Cos. recently acquired a three-story, 70,023 square foot MOB in Joliet, Ill., for an undisclosed price. The MOB, known as Madison Medical Plaza, is on the campus of the 480-bed Provena Saint Joseph Medical Center. Versa Property Management, a Rendina […]
Transactions: Equity Inc. makes move into Texas
OHIO REAL ESTATE FIRM ACQUIRES 70,327 S.F. FOOT PROPERTY IN CORPUS CHRISTI By John Mugford Columbus, Ohio-based Equity Inc. recently made its foray into the Texas healthcare market, as it acquired the Wellspring Center, a three-story, 70,327 square foot medical office building (MOB) on 0.61 acres at 5802 Saratoga Blvd. in Corpus Christi. The purchase price […]
Provider News: Community Health buying two systems
PUBLICY TRADED HEALTHCARE SYSTEM SNAPPING UP STRUGGLING HOSPITALS By John Mugford Franklin, Tenn.-based Community Health Systems Inc. (NYSE: CYH) recently went on a bit of a buying spree, acquiring two hospital systems: one in Ohio and the other in South Carolina. The purchases expanded the company’s portfolio to more than 125 hospitals and 18,000 beds […]
Transactions: HTA agrees to Pittsburgh purchase
REPORTS SAY WEST PENN ALLEGHENY SYSTEM MIGHT OCCUPY ENTIRE BUILDING By John Mugford Scottsdale, Ariz.-based Healthcare Trust of America Inc. (HTA) in recent weeks was poised to make a second major acquisition in Pittsburgh. HTA recently agreed to acquire the Alcoa Business Services Center, a six-story, 230,000 square foot office property located across the street […]
News & Analysis: Sold: Three Denver MOBs
SEPARATE DEALS WITH TWO BUYERS NET $53.25M By John Mugford The notion that investors are ready and willing to pay good money for high-quality, well-located medical office buildings (MOBs) held true in Denver in recent weeks. Three MOBs offered by the company that developed them, Development Solutions Group LLC, which has offices in Denver and […]
Transactions: L.A. MOB complex sells for $71 million
CIM AFFILIATES PAY $350 PSF FOR WEST WILSHIRE MEDICAL CENTER, RCA SAYS By John Mugford Definitive information remains elusive concerning the recent sale of a large medical complex in Los Angeles, the West Wilshire Medical Center. Described by local brokers as a 203,000 square foot, two-building complex, the properties at 11600 and 11620 Wilshire Blvd. […]
Transactions: Healthcare Trust Picks Up More Mobs
NON-TRADED REIT SNAPS UP MEDICAL BUILDINGS IN SOUTH CAROLINA AND TEXAS By John Mugford Healthcare Trust of America continued with its acquiring ways in recent weeks. The Scottsdale, Ariz.-based non-traded healthcare real estate investment trust (REIT) purchased a two-building medical office building (MOB) in the Dallas-Fort Worth Metroplex in Texas, an MOB in Charleston, S.C., […]
Special Report: Revisiting monetizations
EXPERTS DISCUSS PAST DEALS, CURRENT MARKET By Dan Emerson With increasing frequency during the past decade or so, healthcare providers have discovered that monetizing ancillary medical real estate can be a useful financial and operational strategy. A panel of healthcare real estate and health system executives at BOMA International’s recent 2010 Medical Office Building (MOB) […]