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 […]
Capital Market Snapshot: Improvements could come in early ‘09
RECOVERY OF MEDIUM- AND LONG-TERM CREDIT MARKETS COULD TAKE LONGER The conditions in the capital markets have not changed appreciably in the past month. The initial enthusiasm surrounding the election of President-elect Barack Obama has been tempered by a growing body of evidence that suggests we are in the early stages of a global recession. […]
Product Focus: Q3 MOB sales take a hit
RECESSION-RESISTANT, BUT NOT RECESSION-PROOF By John Mugford There’s been a lot of talk recently that healthcare, and subsequently healthcare real estate, is recession-proof. Several medical real estate veterans, however, would like to clarify that statement. They would like others in the industry, as well as those looking to get involved in the space, to know […]
News & Analysis: Carolinas to sell 15 MOBs
HR TRUST AGREES TO BUY PORTFOLIO FOR $162M By John Mugford There’s an interesting, potential silver lining type of irony taking place in healthcare real estate right now. At a time when the volume of medical office building (MOB) transactions is taking a hit because of the economic slowdown and tight capital markets (please see […]
Industry Pulse: November 2008
CALIFORNIA – On Nov. 4, voters across the country chose Barack Obama as their next president, and in California voters approved Proposition 3, a huge measure that will provide $980 million for capital improvements at children’s hospitals across the state. The measure provides funding for construction projects, expansions and renovations at eight not-for-profit children’s hospitals […]
Publisher’s Letter: Oval Office intrigue
HOW WILL THE ELECTION AFFECT THIS BUSINESS? By Murray W Wolf Dear Reader: What impact will the U.S. presidential election have on healthcare real estate? Lately, I have been asked that question a lot – as if I actually have any idea. As I recently told a BOMA group in Chicago that asked me to […]
Provider profile: Stretching from Ohio to the world
THE CLEVELAND CLINIC’S VAST REAL ESTATE PORTFOLIO IS STAGGERING IN SIZE By Dan Emerson Friday, Sept. 12, was a historic day for the internationally renowned Cleveland Clinic, when officials, politicians and other dignitaries gathered to celebrate the completion of the largest expansion in the clinic’s 87-year history: $634 million worth of construction projects adding 1.3 […]
Inpatient Projects: Doc-owned hospital set for bio center
CIRRUS GROUP, PHYSICIANS TEAMING UP ON $50M PROJECT IN SAN JOSE, CALIF. By John Mugford After quite a few delays, a physician-owned hospital in the San Jose (Calif.) Biocenter recently announced that it plans to break ground soon and open by the end of 2010. The $50 million, 168,000 square foot campus of California Center […]
Outpatient Projects: Baylor plans $350M cancer center
450,000 SQUARE FOOT OUTPATIENT FACILITY TO CONNECT TO DALLAS HOSPITAL By John Mugford They do things big in Texas, and Baylor University Medical Center’s future cancer center planned for Dallas is a good example. The project, which would entail both a new 450,000 square foot outpatient cancer facility as well as an addition to Baylor’s […]
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. […]
Capital Market Snapshot: The difficult months are almost past
OTHER POSITIVE SIGNS INCLUDE DECLINE IN LIBOR, NARROWING OF TED SPREAD October has lived up to its reputation as a difficult month for capital markets. In fact, eight of the 10 largest single-day percentage declines in the history of the Dow Jones Industrials have occurred during September or October. So far, 2008 has clearly continued […]
Q&A: DASCO sees silver lining
CAPITAL CRISIS IS CREATING FRESH OPPORTUNITIES By Murray W. Wolf Although it might seem counterintuitive, the capital crisis is actually benefiting some healthcare real estate firms. Specifically, some hospitals and health systems have become more receptive to third-party development and investment as other, more traditional, sources of financing have dried up. That’s according to Malcolm […]
Special Report: Where’s the capital?
NIC PANEL EXPLORES TOPIC ON EVERYONE’S RADAR By John Mugford Sure, the debt markets are in disarray, commercial and residential real estate values are in retraction, and investors with equity are not sure where to place it. Even so, there is reason for optimism, such as the notion that people involved in capital markets usually […]