Transactions: Los Angeles MOB garners a whopping price of $847 per square foot
LOS ANGELES – A once-speculative Los Angeles MOB that now houses the DaVita Westwood UCLA Dialysis Clinic recently fetched a whopping $847 PSF in a transaction that closed in recent weeks. The sale price for the three-story, 17,825 square foot building at 10630 Santa Monica Blvd. was $15 million.
Industry Pulse: On The Record
What MOB acquisitions opportunities are you seeing? “We continue to see plenty of opportunity to acquire individual properties, ranging from $20 million to $50 million at attractive cap rates of about 7 percent on average.” Todd J. Meredith EVP of Investments, Healthcare Realty Trust Will kind of cap rates are you seeing for […]
Inpatient Projects: Ground broken for New Sibley Memorial in Washington, D.C.
WASHINGTON, D.C. – Construction began July 1 on what is being called the New Sibley Memorial Hospital. Essentially, the hospital campus is being rebuilt, with the recent groundbreaking marking the start of construction on a 469,000 square foot, 200-bed facility on the campus in northwest Washington. The hospital, owned by Johns Hopkins Medicine, will include […]
Industry Pulse: Healthcare Sector Leads Jobs Growth
A new report reminds us why HRE is a good business. In its recent “Healthcare Metro Monitor Supplement,” the Brookings Institution reports that the U.S. healthcare industry added 2.6 million jobs during the past decade. That was an increase of 22.7 percent, far exceeding the 2.1 percent growth rate in all other industries.
Companies & People: Perkins+Will designed rehab hospital opens in Boston-area navy yard
CHARLESTOWN, Mass. – A 262,000 square foot rehabilitation hospital designed by Chicago-based Perkins+Will recently opened on a remediated brownfield parcel in the Charlestown Navy Yard just outside of Boston. The $225 million Spaulding Rehabilitation Hospital replaces an aging, 42-year-old facility on the banks of the Charles River.
More Outpatient Projects
Meadows Healthcare Alliance, which operates Meadows Regional Hospital in Vidalia, Ga., recently acquired a former manufacturing complex for what officials are calling a “future medical development.” Hospital officials have yet to provide details about what the health system has planned for the 44.2-acre site, which is home to the 187,000 square foot building that formerly […]
July 2013 PDF
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Editor’s Letter: The Obamacare effect
Even if support wanes, the HRE sector will benefit Dear Reader: Admit it. Those of you who disdain President Obama and all that he stands for politically prefer to use the term “Obamacare” when referring to the Patient Protection and Affordable Care Act (PPACA). The reference seems to encapsulate one’s negative feelings not only about […]
Archives: June 2013
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Cover Story: Is it wise to monetize MOBs?
At BOMA, health system executives outlined why their answer is ‘yes’
Feature Story: A new name is closing MOB deals
Fairfield Asset Advisors says it’s found a niche in healthcare real estate. Recent deals appear to back that up. By John B. Mugford New entrants often trumpet their move into the healthcare real estate sector, but most of them don’t succeed. Fairfield Asset Advisors is letting its transactions do the talking.
Post-Acute & Senior Living: Firm puts its brand on senior sector
Caddis Partners plans to develop up to 12 senior residences in next 18 months By Murray W. Wolf Caddis Partners LLC, a healthcare real estate firm best known for its medical office buildings (MOBs), is jumping into the senior housing market with both feet. In recent weeks, the Dallas-based healthcare real estate development, management and […]
Transactions: Two months, 21 assets acquired
Griffin-American Healthcare REIT II spends $141.3 million on 17 MOBs, four SNFs By John B. Mugford In the largest of the more-recent transactions, the REIT purchased 11 properties in what is known as the Central Indiana MOB Portfolio. The seller was
Hot Property: JLL plans to sell 13-building portfolio
Offering totals 657,811 square feet in California, Arizona; Dignity occupies 33% Name: Dignity Medical Office Portfolio Number of MOBs: 13 Locations: California and Arizona Size: 657,811 square feet Occupancy: 79% Seller: JLL Income Properties Trust Inc. Largest tenant: Dignity Health (33%) Brokerage firm: CBRE Group Inc. CALIFORNIA, ARIZONA – Big medical office building (MOB) portfolio […]
Inpatient Projects: $242M children’s hospital planned
Alleviating overcrowding a primary goal of building facility in Fort Myers, Fla. By John B. Mugford When beds periodically become scarce at the children’s hospital inside HealthPark Medical Center in Fort Myers, Fla., pediatric patients are sometimes diverted to hospitals in other cities. On occasion, the destinations include Tampa or Miami.