Transactions: Broadstone Real Estate buys three MOBs on Florida’s Gulf Coast for $16 million
SARASOTA, Fla. – Rochester, N.Y.-based Broadstone Real Estate LLC recently paid $16 million for three MOBs on the Gulf Coast of Florida; two in Sarasota and one in nearby Englewood. The investor acquired the properties through a subsidiary, Broadstone GCSC Florida LLC. With a total of 46,854 square feet, the three properties commanded a PSF […]
Transactions: The Sanders Trust pays $13M for recently completed MOB near Austin, Texas
KYLE, Texas – Birmingham, Ala.-based The Sanders Trust (TST) has purchased the recently completed Kyle Medical Plaza in Kyle, about 15 miles south of Austin, Texas. TST paid $13 million for the 42,000 square foot standalone facility, which includes among its tenants the five-operating room Hays Surgery Center. The facility also is home to MRI […]
Transactions: Buyer pays $10.4 for on-campus MOB in Tacoma, Wash.
TACOMA, Wash. – Citing optimism about the healthcare market in the South Puget Sound area, Olympia, Wash.-based Berschauer Group, a commercial real estate construction and development firm, recently acquired a local on-campus MOB. The company paid $10.4 million for the 97,590 square foot Allenmore B building on the campus of Multicare Health System’s Tacoma Hospital, […]
Transactions: Griffin-American Healthcare REIT invests a total of $47M in five MOB acquisitions
NEWPORT BEACH, Calif. – American Healthcare Investors and Griffin Capital Corp., Southern California-based companies, have been quite busy in recent weeks making acquisitions for Griffin-American Healthcare REIT II Inc., of which they are co-sponsors. The companies recently made three acquisitions with five MOBs for the Newport Beach, Calif.-based unlisted healthcare real estate investment trust (REIT). […]
Industry Pulse: On the Record
What is driving the uptick in development? “Health systems (are) thinking more strategically on how to … get the right facilities in the right locations at the lowest costs and with the right outcome.” Mike Lincoln, Executive VP, Lillibridge What is going to happen to older, obsolete MOBs? “Many of those are […]
Post-Acute and Senior Living: Senior housing recovery continues as Q4 occupancy climbs to 89.1 percent
ANNAPOLIS, Md. – The average occupancy rate for senior housing was 89.1 percent during the fourth quarter (Q4) of 2012, up 0.3 percent from Q3 and up 1 percent Q4 2011, according to the Annapolis-based National Investment Center for the Seniors Housing & Care Industry (NIC). “Occupancy is now at a four-year high and, with […]
Post-Acute and Senior Living: Norvin acquires Texas rehab hospital
Private equity firm pays $32.9 million for fully leased, 50-bed facility in Austin By John B. Mugford New York-based Norvin Healthcare Properties recently gained a foothold in the Austin, Texas, market by purchasing the 60,000 square foot, three-story Central Texas Rehabilitation Hospital (CTRH) from an affiliate of Dallas-based Prevarian Hospital Partners. The price was $32.9 […]
Inpatient Projects: More Inpatient Project News
Dignity Health recently started construction on its future 24-bed, $44 million hospital in Glendale, Ariz. The new hospital, to be called St. Joseph’s Westgate Medical Center, is under way on a 35-acre tract near Loop 101 and Glendale Avenue, in the West Valley area of Greater Phoenix. The hospital is scheduled to open in early […]
Inpatient Projects: Finally, downscaled Shriners moving forward in St. Louis
ST. LOUIS – After years of setbacks, Shriners Hospital for Children in St. Louis has a date set for a groundbreaking for a new replacement hospital: March 20. The $47 million replacement facility will be constructed at 4400 Clayton Ave. on the campus of the Washington University School of Medicine on the large campus of […]
Inpatient Projects: Work beings for $55 million Permian Regional Medical Center in Andrews, Texas
ANDREWS, Texas – Work started in recent weeks on a new replacement for Permian Regional Medical Center (PRMC) in Andrews. The future $55 million hospital will have 34 beds, a wellness center and physician clinic space and offices. The 200,000 square foot facility, which will be built in phases and completed in 2016, will be […]
Inpatient Projects: Commercial spaces to pay for hospital
By Dan Emerson Like many aging hospitals throughout the country, century-old St. Anthony in Chicago has plans for a new replacement campus a short distance from its existing facility outside of downtown. Yet, what St. Anthony Ministries, the holding company that owns the hospital, has planned is, perhaps, unlike any medical complex/planned community in the […]
Outpatient Projects: More Outpatient Projects
An affiliation between Suncoast Medical Clinic, which has five locations in and around St. Petersburg, Fla., and St. Anthony’s Hospital has risen to a higher level with the completion of a new outpatient center. That $22 million facility, which recently opened on the campus of St. Anthony’s in St. Petersburg, is the new main campus […]
Outpatient Projects: Major Minneapolis hospital venturing west with outpatient project
MINNETONKA, Minn. – Officials with the Hennepin County Medical Center (HCMC) in downtown Minneapolis have come to realize that patients from the suburbs would rather not venture into the city to receive medical care. In fact, they’ve learned that the dislike is especially acute for people living west of Highway 100, just three miles or […]
Outpatient Projects: HSA PrimeCare breaks ground for surgery center in northern Chicago suburbs
VERNON HILLS, Ill. – HSA PrimeCare broke ground in recent weeks for a 15,000 square foot multi-specialty surgery center at 240 Center Dr. in Vernon Hills, in the northern Chicago suburbs.
Outpatient Projects: Old hotel will make way for $34 million Mercy outpatient facility in Branson, Mo
BRANSON, Mo. – Chesterfield, Mo.-based Mercy is certainly a well-known health system in Branson. However, most of the city’s residents need to drive about 35 miles to the north to receive Mercy’s services at its hospital in Springfield, Mo. Starting in 2015, however, that will no longer be the case. Mercy has acquired an abandoned […]