Publisher’s Letter: Visit HREInsights.com
HREI™ unveils redesigned, vastly expanded website Dear Reader: It’s been an extremely busy several months here at Healthcare Real Estate Insights™. In January, we celebrated 10 years of publishing with the unveiling of the “new and improved” HREI™ monthly magazine. Next, we wrapped up several months of work with the publication of our sixth annual […]
Industry Pulse: $2 billion project being reviewed in San Francisco
California Pacific Medical Center’s titanic building program looks to be back on course after the health system and its parent company, Sacramento, Calif.-based Sutter Health, reached a compromise with the San Francisco Board of Supervisors. After months of contentious negotiations, the compromise calls for CPMC to move forward with a scaled-down version – at 274 […]
Capital Markets: Are we at an inflection point?
A big increase in deals isn’t expected, but volumes tend to spike at such times A shift in the focus of the capital markets is beginning to occur, with an increasing level of discussion about the risks of rising interest rates. While most people do not expect a sharp increase in rates, two key drivers […]
Hot Property: An opportunity grows in Brooklyn
Name: One Hanson Place Number of Medical Suites: 9 Location: 1 Hanson Place, Brooklyn, N.Y. Size: 12,396 square feet (nine suites) Asking Price: $7.975 million Price Per Square Foot: $643.35 Cap Rate: 8.01% Occupancy: 100% Avg. remaining lease term: 5 years Building Completed: 1927 Seller: Noyack Medical Partners LLC Tenants: Dentists, oral surgeons, urologist, pediatrics […]
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 […]