Transactions: Meridian acquires MOB in Orange County, Calif.; plans to make $24 million of improvements
LAGUNA HILLS, Calif. – San Ramon, Calif.-based Meridian recently closed on the acquisition of a value-add, 57,057 square foot MOB in Laguna Hills, in Orange County, Calif. Meridian plans to invest more than $24 million into the 74 percent occupied MOB, known as The Laguna.
Inpatient Projects: Scripps going big in San Diego
But system’s $2.6 billion capital plan could be altered by external forces By John B. Mugford Although San Diego-based Scripps Health announced in November that it intends to spend up to $2.6 billion on construction projects system wide through 2030, officials note that the plan could be put in jeopardy by changes beyond the organization’s […]
Transactions: DOC acquires Texas MOB for $30 million
Physicians Realty Trust buys Midland facility occupied by local health system and USPI By John B. Mugford Milwaukee-based Physicians Realty Trust (NYSE: DOC) recently acquired Legends Park, a 64,200 square foot MOB and ambulatory surgery center (ASC) complex in Midland, in West Texas.
Post-Acute & Senior Living: MedCore Partners, Post Acute Medical team up on post-acute facility in Dover, Del.
DOVER, Del. – Dallas-based MedCore Partners and Enola, Pa. based Post Acute Medical LLC (PAM) are teaming up on the development of what the firms call a “first-of-its-kind” post-acute care facility in Dover.
December 2017 PDF
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Finalists: Best Inpatient Facility – Sanford Medical Center Fargo, Fargo, N.D.
Developer: Sanford Health After eight years of planning and development, the $494 million, 11 story, 1 million square foot Sanford Medical Center Fargo has opened to the public.
Finalists: Best Post-Acute/Senior Living -St. Stephen’s Senior Housing, Canta Cruz, Calif
Developer: MidPen Housing Corp. The grand opening for St. Stephens Senior Housing was held Oct. 20, 2017. The project represents the realization of the congregation’s long-held vision to transform a portion of the church property into a vibrant residential community for low-income seniors in the area.
Finalists: Best New Mob – RWJBarnabas Health at Bayonne, Bayonne, N.J.
Developer: Rendina Healthcare Real Estate Completed this summer, RWJ Barnabas Health at Bayonne is being lauded by residents and community officials as a success in providing the community with greater access to high quality healthcare.
Outpatient Projects: NexCore breaks ground on outpatient campus next to hospital in Show Low, Ariz.
SHOW LOW, Ariz. – In more news from NexCore Group, the company broke ground Nov. 6 for a 18.81-acre, three-building outpatient campus next to Summit Healthcare Regional Medical Center (SHRMC) in Show Low, a mountain city about 180 miles northeast of Phoenix.
Finalists: Best New Mob – Women’s Care Florida Women’s Health Center, Tampa, Fla
Developer: NexCore Group LLC The new facility will allow WCF to enhance patient satisfaction with a conveniently located, patient-centered, one-stop care center. WCF will be able to see about 30 percent more patients in its new space because of the efficient programming and design achieved by the NexCore team.
Finalists: Renovated/Repurposed – Spectrum Health Integrated Care Campus, Grand Rapids, Mich.
Developer: Spectrum Health The new downtown Grand Rapids integrated care campus opened in June. It houses two internal medicine and pediatrics primary care practices formerly located elsewhere in the city, and other services including occupational health and rehab. There is a new main lobby/ reception area and waiting room, as well as a radiology/X ray […]
Capital Markets: Spotlight on Cypress West Partners
Chris Cumella reviews the MOB market, their place in it and recent deals By Erik Tellefson In this month’s “Spotlight on” feature we are continuing to focus on private medical office building (MOB) investors, and discussing the overall market and some recent transactions with Chris Cumella of Rancho Santa Margarita, Calif.-based Cypress West Partners (CWP).
Post-Acute & Senior Living: Developer proposes senior campus to replace office in Westchester County, N.Y.
RYE BROOK, N.Y. – A local developer has proposed to raze a mostly vacant office building on a 17.3-acre site in Rye Brook to make way for a 269-unit senior housing campus with townhouses, apartments and assisted living units, according to the local Westchester County Business […]
Hot Property: A small gem in the San Gabriel Valley
Fully occupied MOB in West Covina, Calif., is within two miles of 238 restaurants Name: West Covina Medical Square Address: 1500 block W. Garvey Ave. N. West Covina, Calif. No. of buildings: 2, Square feet: 22,564 Occupancy: 100 percent, Number of tenants: Five Avg. remaining lease term: 4.79 years Brokerage: CBRE SoCal Investment Properties Brokers: Gary P. Stache, […]
Companies & People: Hammes Company hires former health system director of design and construction
In more news from Hammes Company, the Brookfield-based firm has hired a health system executive as part of its Columbus, Ohio, office. Douglas Coover, previously the director of director of design and construction at a four-hospital East Coast system, joined Hammes as VP of facility development.
