Industry Pulse: On the Record
Is the so-called ‘retailization’ of healthcare creating new opportunities? “We’re not seeing it translate into new development volume because they’re typically in line with space that exists.” Chris Jackson, VP, Business Development Director, Lend Lease, speaking at the recent InterFace HRE Conference in Dallas What do you see as the future in terms of HRE […]
Publisher’s Letter: Obamacare chaos
Dear Reader: As I write this, the news media is feasting on the bungled rollout of healthcare.gov, the website for the new federal healthcare exchange that was supposed to be the place where Americans could sign up for coverage. Anyone even remotely associated with the debacle is being pilloried, particularly our Commander in Chief. So […]
REIT Report: Sudden CEO change raises eyebrows
‘Management style’ blamed for Jay Flaherty’s abrupt departure from HCP Inc. By Murray W. Wolf In an Oct. 3 news release, healthcare real estate investment trust (REIT) HCP Inc. (NYSE: HCP) announced that longtime chairman, president and CEO James F. “Jay” Flaherty III had been terminated. Lauralee Martin, a top executive with Jones Lang LaSalle […]
Capital Markets: No ‘turning point’ yet in sight
With money flowing into stocks, hospitals feeling stress accessing bond market Have we reached an inflection point? That does not seem likely, as October was one of the most active months for IPOs since 2007. Most recently, we had the Twitter initial public offering (IPO), which minted 1,600 millionaires and generated $485 million and $1.72 […]
October 2013 PDF
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Archives: September 2013
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Cover Story: A grand bargain in L.A.
MOB sale shatters $1,000 per square foot barrier By John B. Mugford The buyer, Montecito Medical Investment Co., says the MOB merits the lofty price. John B. Mugford The average price per square foot (PSF) that MOB investors have paid so far in 2013 is right around $208 – that’s for transactions of more than […]
Feature Story: Deal takes Washington by storm
Harrison Street’s blockbuster medical office building purchase from WRIT totals $500.75 million Harrison Street should soon become the largest owner of MOBs in D.C. area By John B. Mugford As you read this, Chicago-based Harrison Street Real Estate Capital LLC does not own a single medical office building (MOB) in the Greater Washington, D.C., area. […]
Transactions: HTA lands off-market deal in Florida
Publicly traded REIT buys six on-campus buildings from joint venture for $63M By John B. Mugford Healthcare Trust of America Inc. went fishing in South Florida and came away with a nice prize catch, a portfolio of six on-campus medical office buildings (MOBs). The Scottsdale, Ariz.-based publicly traded real estate investment trust (REIT) spent about […]
Transactions: ‘Health city’ in Florida fetches nice price
Health Care REIT pays $49.5million for medical mall that includes extra land By John B. Mugford In an example of how demand remains strong for high-quality, hospital-affiliated medical office buildings (MOBs), a joint venture (JV) partnership has garnered a double-digit profit in selling an Florida outpatient complex it acquired just two years ago. Toledo, Ohio-based […]
Transactions: Developer sells newly developed MOB for $21.85M in New Jersey
CHERRY HILL, N.J. – In May, Healthcare Real Estate Insights™ reported that a sale was pending for the newly developed LourdesCare at Cherry Hill, a 54,000 square foot outpatient center in the Philadelphia suburbs. That sale has indeed taken place, as the U.S. Healthcare Capital Markets Group of CBRE Group Inc. recently reported that the […]
Transactions: Harrison Street makes another acquisition in Twin Cities market
BURNSVILLE, Minn. – Chicago-based Harrison Street Real Estate Capital LLC recently made its second large medical property investment in the Twin Cities area of Minneapolis-St. Paul.
Transactions:California health district buys building housing its wellness center
CARLSBAD, Calif. – In an effort to save money over the long haul, Oceanside, Calif.-based Tri-City Healthcare District recently purchased an MOB complex in Carlsbad that houses its wellness and wound care programs. The public healthcare district paid $47 million for the facility, which was sold by private development firm ECR Corporate Center. The 58,000 […]
Transactions: Medical office building in Fayetteville, Ga., trades for $15.9 million, or $256 PSF
FAYETTEVILLE, Ga. – FCH Medical Building, a 62,106 square foot MOB in Fayetteville, traded in July for
Transactions: MVP REIT acquires Las Vegas medical and professional building for $15 million
LAS VEGAS – MVP REIT Inc., a non-traded REIT that is focusing on acquiring office buildings, storage facilities and parking structures in the West and Southwest, recently closed on the purchase of a 47,501 square foot medical and professional building in Las Vegas. The Las Vegas-based REIT paid