Market Focus: Healthcare firms are betting on Vegas
OPERATORS, DEVELOPERS ANTE UP FOR A CHANCE AT A DEMOGRAPHIC JACKPOT By Murray W. Wolf What happens in Vegas doesn’t always stay in Vegas – at least when it comes to healthcare real estate development. The word’s been out for years among health systems, developers and investors: Betting on Las Vegas is practically a sure […]
Project Case Study: Stanford site targets upscale seniors
ON-CAMPUS RETIREMENT PROJECT CREATES VALUE FOR UNIVERSITY, RESIDENTS By Jessica Griffith When Classic Residence by Hyatt decided to take its continuing care retirement community (CCRC) model to a parcel of land on the Stanford University campus, the allure was not the academic and cultural environment. Nor was it the famous northern California climate “This is […]
Legal Issues: Healthcare real estate deals are tricky
EXPERTS SAY THE COMPLEX LEGAL ENVIRONMENT DEMANDS SPECIAL EXPERTISE By Murray W. Wolf Ensuring that healthcare providers are in compliance when undertaking real estate transactions takes highly specialized legal expertise, according to a panel of experts who participated in a May 12 audio conference: “Legal and Regulatory Issues Affecting Healthcare Real Estate Transactions.” The event […]
Guest Column: Policy would have catastrophic impact
CMS PROPOSAL WOULD SEVERELY LIMIT REPLACEMENT FACILITIES FOR CAHs By Alan P. Richman On April 25, 2005, the Centers for Medicare and Medicaid Services (CMS) proposed a policy change relating to the designation of critical access hospitals (CAHs) as necessary providers. The rule: CMS Hospital Inpatient Prospective Payment System (IPPS) proposed Rule (FY 2006) prohibits […]
Provider Profile: Universal is known for diversification
UHS TARGETS RAPIDLY GROWING MARKETS AND LOOKS BEYOND ACUTE-CARE By Beth Mattson-Teig Universal Health Services (NYSE: UHS) has earned a reputation as a company that is willing to tolerate the risks associated with expanding into new service areas and new markets. Founded in 1978, King of Prussia, Pa.-based UHS is one of the nation’s largest […]
For the Record
INPATIENT PROJECTS Lewes, Del. city officials approved plans for a $25 million, 71,300 square foot expansion at Beebe Medical Center. Construction is to start this spring with completion targeted for late 2006… Southwest Washington Medical Center of Vancouver, Wash. is working on an eight-story hospital tower with 154 private rooms, a surgery center and a […]
Alter+Care plans to develop surgery center in Joliet
JOLIET, Ill. – Provena St. Joseph Medical Center and developer Alter+Care expect to begin construction this spring on a three-story, 70,000 square foot outpatient medical facility and office building in Joliet. Major tenants of the building, known as Madison Medical Plaza, are expected to include Surgery Center of Joliet LLC. The target date for completion […]
Duke Realty Corp. plans $102 million in health projects
INDIANAPOLIS – Indiana-based Duke Realty Corp. (NYSE: DRE) recently unveiled plans to expand its position in healthcare real estate with $102 million in new projects. The largest project is a 350,000 square foot office headquarters in Buffalo, N.Y., that is 100
Seattle real estate firm buys MOBs, enters med arena
SEATTLE – Unico Properties Inc., a Seattle-based real estate investment and management firm, had no healthcare real estate holdings prior to December 2004. But, the firm’s recent acquisitions of two medical properties in the Puget Sound area suggest that the firm is serious about becoming more of a player in the healthcare arena.
News & Analysis: Lillibridge buys 10 MOBs from SSM
REIT ALSO SIGNS SEPARATE DEAL TO PROVIDE SERVICES TO PROVIDER ALLIANCE By John Mugford After acquiring a seven-building medical office building (MOB) portfolio in March and a healthcare real estate development firm in April, Lillibridge was at it again in May. The private Chicago-based health-care real estate investment trust (REIT) announced last month that it […]
Publisher’s Letter: Set my information free!
WHY WON’T CMS RELEASE PUBLIC INFORMATION? Dear Reader: Thousands of words have been written about physician-owned specialty hospitals. Yet, some basic information has not been disclosed: Of the specialty hospitals that were under development when the 18-month federal moratorium was imposed in November 2003, which ones were grandfathered in and which ones were stopped? It […]
Product Focus: Seniors flocks to schools
COLLEGE-LINKED RETIREMENT COMMUNITIES ARE HOT By Jessica Griffith All retirees are not created equal. As increasing numbers of Americans consider retirement, developers are anxious to attract those seniors at the top of the economic scale: older adults with significant nest eggs and an interest in comfortable, even luxurious, retirement. For many years, housing communities centered […]
News & Analysis: More small MOB deals?
Q1 SAW MORE TRANSACTIONS, LESS DOLLAR VOLUME By John Mugford There seems to be a growing sense in the medical office sector that big deals are becoming harder to come by and that the market is seeing more – but smaller – transactions. While it might be too soon to call that a sustained trend, […]
Industry Pulse: June 2005
BIRMINGHAM, Ala. – Baptist Health System (BHS) has engaged a New York investment bank to assist in the sale of seven medical office buildings (MOBs) totaling 480,690 rentable square feet. Three of the MOBs are on the not-for-profit system’s flagship Princeton campus, two are on its Montclair campus and two are off-campus, according to Philip […]
Financing and Investing
Beverly looks to stave off takeover through auction NEW YORK – Nursing home operator Beverly Enterprises Inc. (NYSE: BEV) has announced that it has opened its financial records to several potential suitors. The move is intended to avoid a $1.5 billion takeover bid from a group of investors and, instead, complete an auction of the […]