Industry Pulse: Florida Providers Plan To Attempt “Coopetition”
Two rival Tampa, Fla., area systems plan to partner on a new outpatient center and more. We’ve been hearing a lot about hospital and health system mergers and acquisitions in recent years. But two rival systems in the Tampa, Fla., area are trying “coopetition,” joining forces to battle bigger competitors with a not-for-profit joint venture […]
Industry Pulse: REITs own less than 10%? Not so fast…
Public REITs might own closer to 13 percent, one reader says. In our December Publisher’s Letter, HREI™ Publisher Murray W. Wolf estimated that the publicly traded healthcare real estate investment trusts (REITs) probably own less than 10 percent of all healthcare real estate (HRE) based on their combined market capitalization of $92.9 billion (as of […]
Post-Acute & Senior Living: New Senior plans largest buy to date
‘Pure play’ senior housing REIT to pay $435M for 17-asset portfolio in 10 states By Daniel H. Larson New York-based Newcastle Investment Corp.’s spin-off company, New Senior Investment Group, recently announced its biggest deal yet.
Post-Acute & Senior Living: The Wesley Community plans $42 million senior care facility in Upstate NY
MALTA, N.Y. – Saratoga Hospital is teaming up with The Wesley Community in planning a new $42 million senior-living apartment complex in Malta, a small town about 25 miles north of Albany in Saratoga County, N.Y. The Wesley Community is a not-for-profit entity sponsored by Hutchinson, Kan.-based United Methodist Health. It currently operates a 36-acre […]
Post-Acute & Senior Living: More Post-Acute & Senior Living News
■ Franklin Park Stone Oak of San Antonio has secured $20 million in financing to move forward on the assisted living facility’s second phase. Plans calls for adding 63 independent living units to the 99 units built in 2011. Construction would begin in the second quarter (Q2) of 2015 and completed in 2016. Chicago-based Harrison […]
REIT Report: Newcastle spin-off creates new REIT
New Senior Investment Group began trading Nov. 7 on the New York exchange By Murray W. Wolf Careful readers will notice that the Healthcare Real Estate Insights™ Index of Publicly Traded Healthcare Real Estate Investment Trusts (REITs) shown below has grown since last month. New to the index this month is New Senior Investment Group (NYSE: […]
Capital Markets: Assumable loans increase options
A lender’s flexible structure and approach should be important for borrowers By Erik Tellefson Assumable loans generally allow for the debt to be assumed by another party, typically at the lender’s discretion and in exchange for an assumption fee. While an assumption provision may seem insignificant relative to more key loan terms like rate, term, […]
Companies & People: H2C led year’s largest monetization
Investment banking, advisory firm represented Pa. system in $174.1 million sale By John B. Mugford The largest health system sale, or monetization, of a real estate asset portfolio in 2014 took place in October, when Harrisburg, Pa.-based PinnacleHealth sold eight buildings to ARC Healthcare Trust II, a non-traded real estate investment trust (REIT).
Companies & People: More Healthcare Real Estate Company & People News
■ Brandon Muzik recently joined Chicago-based Stage Equity Partners LLC, a HRE investment firm, as director of acquisitions. His primary responsibilities include sourcing, underwriting and closing transactions. “Brandon’s professional experience in the healthcare real estate industry is a great asset to Stage,” said Brian Howard, who is a principal of the firm along with Russell […]
Archives: 2014
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Archives: December 2014
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Cover Story: Hail to the REITs
Public HRE trusts control growing share of $1 billion market By John B. Mugford In the $1 trillion universe that is healthcare real estate, real estate investment trusts (REITs) certainly compete with each other when it comes to acquiring desirable properties, gaining name recognition and attracting investors. But it also looks as if the two […]
Feature Story: Insights Awards finalists announced
Second annual event honors healthcare real estate’s top people and projects As Scottsdale basked in brilliant sunshine in late 2013, 82-year-old Robert A. “Bob” Rosenthal’s sunny disposition was on display as he bounded onto a stage inside the Phoenician Resort. Upon receiving the 2013 HREI Lifetime Achievement Award for a career that spanned five decades, […]
Transactions: CNL Healthcare closes $238M deal
The timing was right for the sale, longtime developer Meadows & Ohly says By John B. Mugford In our September 2014 edition, Healthcare Real Estate Insights™ first wrote about a pending $238 million medical office building (MOB) transaction in which Orlando, Fla.-based CNL Healthcare Properties would acquire a portfolio of 13 medical office buildings (MOBs) […]