Hospitals can have more than one life
EXISTING MEDICAL CAMPUSES CAN BE CREATIVELY ADAPTED TO NEW USES By Mike O’Keefe, Al Aardsma and Dave Brown Adaptive reuse – the transformation of vacated hospitals and related buildings into renovated, refurbished structures for new, productive uses – is a challenge for hospitals that plan to relocate to greenfield sites. The leap from old to […]
Market Focus: Plans abound in NYC despite woes
PREDICTED HOSPITAL CLOSINGS COULD STRENGTHEN SURVIVING PROVIDERS By John Mugford There promises to be plenty of activity at hospitals in the greater New York City Area in the next year or so. Some of the activity, however, could be the closing of hospital doors. The financial situation at many metropolitan area hospitals – as well […]
Project Case Study: Medical is key to Utah mixed-use plan
NEW HEALTH FACILITY IS CENTRAL COMPONENT OF SUBURBAN REDEVELOPMENT By Jessica Griffith Five years ago, the Five Points Mall site in Bountiful, Utah, provided the community with nothing but a few shops and a prime example of outdated suburban shopping trends. The 180,000 square foot shopping center in a northern suburb of Salt Lake City […]
Provider Profile: Non-urban hospitals are focus for CHS
COMMUNITY HEALTH SYSTEMS SEEKS TO BUY TWO TO FOUR FACILITIES ANNUALLY By Beth Mattson-Teig With 68 hospitals in 21 states, Brentwood, Tenn.-based Community Health Systems Inc. (NYSE: CYH) has used an aggressive acquisition strategy to become the country’s largest owner of non-urban hospitals. And while the publicly traded, for-profit company looks to continue growing through […]
News & Analysis: JV partners pay $80 million+ for MOBs
CROW UNIT AND INSTITUTIONAL PARTNER BUY BREMNER & WILEY ASSETS By Murray W. Wolf In a transaction valued at more than $80 million, a wholly-owned subsidiary of Trammell Crow Co. (NYSE: TCC) has teamed with an institutional partner to make its first acquisition: seven Indianapolis medical office buildings (MOBs) totaling 463,000 square feet. PHT Investment […]
Publisher’s Letter: Weird medical news II
MORE STRANGE STORIES FROM OUR INDUSTRY By Murray W Wolf Dear Reader: Several months ago, this space was devoted to strange stories from the world of healthcare real estate. (Please see “Weird medical news” in the September 2004 edition of Healthcare Real Estate Insights™.) Now come two more odd tales. First, the Sacramento (Calif.) Bee […]
Product Focus: More medical in the mix
NEW MIXED-USE PLANS EMBRACE HEALTHCARE By Jessica Griffith More and more in development “mixed-use” is being used to refer to a New Urbanism design with a harmonic blend of retail, housing and office. But as the population ages and consumers demand more convenience, healthcare is creeping into mixed-use developments. Even when a project contains little […]
News & Analysis: REIT acquires developer
LILLIBRIDGE ADJUSTS TO SHIFTING MARKET By John Mugford The market for third-party acquisitions of medical office buildings (MOBs), which has been red-hot during the past few years, seems to be seeing a bit of a pullback, according to some industry observers. On the other hand, some say demand for third-party development of MOBs is on […]
Industry Pulse: May 2005
EVERETT, Wash. – Providence Everett Medical Center recently cleared a major hurdle in its plans for a $450 million expansion project when local officials approved the hospital’s request to move or demolish existing houses. Providence Everett’s overall expansion includes a cancer center, a new hospital tower, a second tower that would replace current facilities and […]
Financing & Investment
Psychiatric Solutions to buy Ardent Health’s behavioral division FRANKLIN, Tenn. – Psychiatric Solutions Inc. (Nasdaq: PSYS) of Franklin says it has entered an agreement to purchase 20 inpatient psychiatric facilities for $560 million from Nashville, Tenn.-based Ardent Health Services. The 20 facilities, which have a total of about 2,000 inpatient beds, produced about $300 million […]
Project Caset Study: Equity draws physicians to new MOB
NEW FACILITY WILL ALSO HELP COLORADO PROVIDER TO BE MORE COMPETITIVE By John Mugford What’s a not-for-profit hospital to do when physicians and investors open a competing for-profit surgery center and specialty hospital? The strategy for Mercy Regional Medical Center in Durango, Colo., is to bring in a third-party to develop, finance, own and manage […]
Los Angeles Area Medical Real Estate Projects
Despite the struggles of some California providers, there are plenty of cranes on the Los Angeles area skyline. The capital improvement projects are far too numerous to mention. But, here are some of the most significant ones: Los Angeles County and USC Medical Center (LAC+USC), Los Angeles. Completion is slated for January 2007 for this […]
Market Snapshot: Medical real estate firms still love L.A.
BUT CALIFORNIA’S TROUBLED HEALTH SYSTEM CASTS DOUBT OVER THE FUTURE By Murray W. Wolf The Los Angeles area has enjoyed a sustained healthcare real estate boom in recent years. That’s been a godsend for medical real estate developers, lenders, investors, brokers, designers, builders and other professionals – especially those who anticipated the opportunity and were […]
News & Analysis: Moratorium discussed in Wisconsin
SOME BLAME RISING HEALTH COSTS ON TOO MUCH HOSPITAL CONSTRUCTION By John Mugford Efforts to enact a moratorium on new hospital construction in Wisconsin failed in 2002. But the idea recently resurfaced with some Wisconsin politicians talking about the possibility of an 18- to 24-month statewide ban. Their stated goal was to give lawmakers time […]
Publisher’s Letter: Thanks for the reminder
NOT EVERY SYSTEM WANTS TO OUTSOURCE MOBs Murray W Wolf Dear Reader: A lot has been written during the past few years – much of it by us – about the trend toward third-party development and ownership of medical office buildings (MOBs). Given the apparent advantages of this strategy, one might jump to the conclusion […]
