Industry Pulse: February 2009
CLARKSBURG, Md. – Rockville, Md.-based Adventist HealthCare in early February filed a Certificate of Need (CON) application with the Maryland Health Care Commission to build a new 60-acre hospital campus in Clarksburg, about an hour east of Baltimore. The hospital is slated for a fast-growing area of upper Montgomery County. Plans call for the construction […]
Transactions: Grubb & Ellis takes $25.5M portfolio
HEALTHCARE REIT BUYS 10 MOBs IN ONE DEAL, PLUS MORE IN GEORGIA AND TEXAS By John Mugford Perhaps Grubb & Ellis Health-care REIT Inc. can help revive the slumping medical office building (MOB) acquisition market. At a time when MOB acquisition news is sparse, the privately operated Santa Ana, Calif.-based healthcare real estate investment trust […]
Industry Pulse: January 2009
ORLANDO, Fla. – How in the world would one go about investing in medical office buildings (MOBs) in, perhaps, Europe, or Australia? Well, Orlando, Fla.-based CNL Financial Group and Sydney, Australia-based Macquarie Group Ltd. recently announced they are partnering up to establish a massive real estate investment trust (REIT) to pursue real estate opportunities around […]
Transactions: Oaks Development Group buys MOB
NORTH CAROLINA-BASED FIRM ADDS 35,000 SF SAN ANTONIO ASSET TO PORTFOLIO Staff Reports The Texas office of Cary, N.C.-based Oaks Development Group recently closed on the purchase of the new Shavano Oaks II, a 35,000 square foot medical office building in north central San Antonio. Construction of the medical facility was completed in October, with […]
Transactions: Noyack buys NYC MOB condo for $675 PSF
CEO SAYS FIRM IS STILL SEARCHING FOR, AND BUYING, MEDICAL OFFICE ASSETS By John Mugford Twelve to eighteen months ago, a medical office building (MOB) transaction usually needed to total $20 million or more to make it into the pages of this Transactions section of Healthcare Real Estate Insights™. We simply didn’t have space to […]
Transactions: Grubb & Ellis buys two MOB portfolios
HEALTHCARE REIT ACQUIRES SEVEN MEDICAL OFFICE ASSETS FOR $77 MILLION By John Mugford During a time when medical office building (MOB) sales are slowing because of the current commercial credit crunch, Santa Ana, Calif.-based Grubb & Ellis Healthcare REIT acquired two MOB portfolios in September with a total of about 404,000 square feet of space. […]
Transaction (September 2008)
Baptist buys land for hospital in ‘Bama HEALTH SYSTEM PROPOSING 140-BED HOSPITAL IN HOOVER, NEAR BIRMINGHAM By John Mugford Like putting together a puzzle, Birmingham, Ala.-based Baptist Health system recently completed its third and final land acquisition needed to build its proposed 140-bed hospital in Hoover, Ala., a town of about 70,000 people. Baptist paid […]
Industry Pulse (September 2008)
NEW YORK – There seem to be fewer large medical office building (MOB) portfolios on the market these days, the prices of the assets that are available are relatively high, and the challenging capital environment seems to have put a bit of damper on some MOB new developments. So it’s probably not surprising that some […]
News and Analysis (July 2008)
Grubb goes to town HEALTHCARE REIT MAKES BUYS FOR $256M By John Mugford Don’t worry about whether Grubb & Ellis Healthcare REIT Inc. can wade through the current commercial lending crunch and slow economy. The Santa Ana, Calif.-based real estate investment trust (REIT) that focuses on healthcare properties went on a bit of a buying […]
Industry Pulse (July 2008)
BULLITT COUNTY, Ky. – A turf war is officially brewing in growing Bullitt County, south of Louisville. Two healthcare systems are now planning to build acute care facilities in the hospital-less county. The latest to announce such plans is Brentwood, Tenn.-based LifePoint Hospitals Inc. (Nasdaq: LPNT), which would like to build a 60-bed hospital. The […]
Companies (July 2008)
Lillibridge MOB in Texas wins international TOBY CHICAGO – In late June, Chicago-based Lillibridge received big news at the BOMA International North American Commercial Real Estate Congress and the Office Building Show in Denver. Seton Northwest Health Plaza in Austin, Texas, was awarded the International TOBY Award (The Office Building of the Year) from BOMA, […]
Companies (July 2008)
Lillibridge MOB in Texas wins international TOBY CHICAGO – In late June, Chicago-based Lillibridge received big news at the BOMA International North American Commercial Real Estate Congress and the Office Building Show in Denver. Seton Northwest Health Plaza in Austin, Texas, was awarded the International TOBY Award (The Office Building of the Year) from BOMA, […]
Transactions (June 2008)
Ohio provider buys MedCath hospital GOOD SAMARITAN PAYS $55 MILLION FOR COMPETITOR, DAYTON HEART HOSPITAL By John Mugford “If you can’t beat ‘em, buy ‘em.” That’s the strategy recently employed by Good Samaritan Hospital in Dayton, Ohio, which in May closed on the acquisition of one of its major cardiovascular competitors. Good Samaritan, a 577-bed […]
Industry Pulse (June 2008)
NEWNAN, Ga. – Piedmont Newnan Hospital, about 30 miles southwest of Atlanta, recently received the go ahead from the state for its Certificate of Need (CON) application to build a replacement hospital. The Georgia Department of Community Health in recent weeks approved the $193.7 million proposed project, which would be built on 105 acres near […]
Companies (April 2008)
Illinois system offering 10 buildings LAKE FOREST HOSPITAL SELLING PORTFOLIO WITH 417,723 SQUARE FEET By John Mugford During a time of tight credit and somewhat bleak economic news, potential buyers are showing plenty of interest in a portfolio of 10 medical buildings being offered by Lake Forest Hospital in the northern suburbs of Chicago. The […]