Transactions: HTA acquires another MOB in Dallas
This time, REIT pays $48.7M for facility on campus of physician-owned hospital By John B. Mugford In recent months, officials with Scottsdale, Ariz.-based Healthcare Trust of America Inc. (NYSE: HTA) expressed how pleased they were to acquire a medical office building (MOB) on the campus of the physician-owned Forest Park Medical Center in Dallas. The […]
Editor’s Letter: Watch out for Chicago
Windy City’s healthcare scene is about to take off Dear Reader: Without a doubt, the best known concentration of medical facilities in the country is in Houston: The Texas Medical Center. The granddaddy of all medical districts, the area not far from downtown has a total of 37 million square feet of space inside hospitals, […]
Cover Story: Advocate again
Seven MOBs on Chicago-area system’s campuses are back on the market By John B. Mugford When Advocate Health Care sold eight of its medical office buildings (MOBs) to Great Lakes REIT in 2002, it was a historic deal – one of the first large hospital-driven real estate monetizations. Now, 11 years later, seven of those […]
Cover Story: A concise history of the Advocate MOBs
A pioneering monetization was just the beginning of this portfolio’s storied history ■ July 11, 2002. Oak Brook, Ill.-based Great Lakes REIT confirms that it has agreed to buy a portfolio of eight medical office buildings (MOBs) from Advocate Health Care, a Chicago-based health system.
Cover Story: What’s included in the Advocate Medical Office Portfolio
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Feature Story: Independence day
Privately held Cornerstone Cos. says it is doing just fine on its own By John B. Mugford When capital-rich suitors came calling in recent years, many smaller healthcare real estate firms (HRE) succumbed to the temptation to partner or be acquired. But one regional HRE firm that has no plans to sell is Indianapolis-based Cornerstone […]
REIT Report: Third time’s a charm for new Aviv REIT
After two failed IPOs, post-acute and long-term care investment firm goes public By Murray W. Wolf When Aviv REIT Inc. (NYSE: AVIV) previously attempted an initial public offering (IPO), things didn’t turn out too well. The first attempt in 2008 by the Chicago-based healthcare real estate investment firm was torpedoed by the economic downturn, and […]
Companies & People: Transwestern lands leasing assignment for 150,000 s.f. MOB under way in Katy, Texas
KATY, Texas – Transwestern has landed the leasing assignment for a 150,000 square foot, three-building medical office complex under construction in the Houston suburb of Katy.
Companies & People: PMB completes work on ambulatory care center for Palomar Health in San Diego
SAN DIEGO – Pacific Medical Buildings (PMB) recently opened a standalone outpatient clinic in Ramona, Calif., for Palomar Health, the public healthcare district serving northern San Diego County. The Ramona Ambulatory Care Center is a 7,600 square foot, $4.5 million facility at the corner of Main and 13th streets in a high-traffic area of Ramona.
Companies & People: Gresham Smith completes projects in Greensboro, N.C. and Charlottesville, Va.
KATY, Texas – Gresham Smith and Partners (GS&P), a design and consulting firm, recently completed two projects in the eastern part of the country. On one of the projects, the Nashville, Tenn.-based firm provided architecture, interior design and planning services for a new 44,000 square foot outpatient care center for
Companies & People: Kaiser selects Hammes Co. for six-story, 275,000 s.f. MOB as part of Colorado expansion
LONE TREE, Colo. – Hammes Co. was selected by Oakland, Calif.-based Kaiser Permanente to provide staff augmentation services for the provider’s future 275,000 square foot, six-story freestanding MOB in Lone Tree. Brookfield, Wis.-based Hammes Co. is providing project management, cost control, schedule review and change order administration for the project, which is slated for completion […]
Companies & People: Transwestern brokers 17,000 s.f. medical office lease in repurposed office complex
SAN RAMON, Calif. – Transwestern’s East Bay, Calif., office recently brokered a long-term lease of more than 17,000 square feet of medical office space in a newly repurposed two-building complex in San Ramon, Calif. The new tenant is IntegraMed America, a specialty healthcare services provider, which signed a lease at the Park Place Medical Building, […]
Companies & People: RJ King Associates Healthcare Real Estate brokers sale of Florida MOB
TAMPA, Fla. – RJ King Associates Healthcare Real Estate reports that it recently arranged the sale of Northside Medical Plaza, a three-story, 54,000 square foot medical office building (MOB) in St. Petersburg, Fla. Phillip Faircloth, senior VP investments, and Robert J. King, CEO, handled the transaction for the Tampa-based healthcare real estate services firm. The […]
Companies & People: Healthcare Real Estate Capital provides services for Yale-New Haven Hospital
NEW YORK – Healthcare Real Estate Capital (HRE Capital) recently completed marketing and transaction services on the completion of a sale-leaseback of various properties for Yale-New Haven Hospital in New Haven, Conn. The transaction involved a 53,000 square foot office and retail building, a 24-unit extended stay hotel and an 845-space parking garage – all […]
Companies & People: Cain Brothers assists large Texas systems in merger effort
TEXAS – In December, two large Texas health systems signed a letter of intent (LOI) to form what would be the state’s largest system, a $7.7 billion organization. New York-based Cain Brothers & Co. LLC was hired by the Texas systems, Dallas-based Baylor Health Care System and Temple-based Scott & White, to assist with the […]