Industry Pulse: November 2011
NEWPORT BEACH, Calif. – There’s a new name among the companies actively involved in acquiring healthcare real estate, a sector that has seen quite a number of mergers and acquisitions among its leading companies in recent years. In this case, the independent members of the board of Grubb & Ellis Healthcare REIT II, an active […]
Inpatient projects: Plans unveiled for $360M N.D. hospital
371-BED FACILITY WOULD REPLACE OLDER CAMPUS AND BE BUILT OUT OF FLOOD PLAIN By Dan Emerson While much of the country is struggling to dig out of the recession, the state of North Dakota has been enjoying an economic boom, fueled in large part by new oil-field discoveries. At the same, the state’s largest city, […]
Outpatient Projects: Duke Realty starts $11M Michigan MOB
Marquette General will occupy the entire 43,145 square foot facility in the Upper Peninsula By John Mugford Indianapolis-based Duke Realty (NYSE: DRE) recently broke ground for a 43,145 square foot, $11 million medical office building (MOB) in Escanaba, located in Michigan’s Upper Peninsula (U.P.). The future MOB will be fully occupied by Marquette General Hospital, […]
Outpatient Projects: MOBs planned for heart of Woodlands
PISULA DEVELOPMENT CO. IS BUILDING 20,000 AND 50,000 SQUARE FOOT FACILITIES By John Mugford In an area that is emerging as a focal point of The Woodlands, Texas, two new medical office buildings (MOBs) are will soon be part of the commercial real estate lineup. One of the buildings, a 20,000 square foot facility, is […]
Transactions: Rising demand for one-off MOB deals?
TWO CALIFORNIA DEALS INDICATE THAT PRIVATE BUYERS ARE LOOKING TO MEDICAL By John Mugford Out in California, two recent medical office building (MOB) transactions probably won’t make headlines in many business or real estate publications, be they local or national. Even so, the deals are garnering coverage here in Healthcare Real Estate Insights™ because they […]
Transactions: Major portfolio to be sold
FIRST BIG HOSPITAL-DRIVEN MONETIZATION SINCE 2009 By John Mugford True hospital monetizations of medical office building (MOB) portfolios have been rare in recent years. At press time, however, Healthcare Real Estate Insights™ learned from at least a couple of industry sources who did not want to be named that Scottsdale Healthcare in Arizona was about […]
Publisher’s Letter: Demand never sleeps
FACILITIES NEEDED DESPITE ‘PERFECT STORM’ By Murray W. Wolf, Publisher Dear Reader: The question we have been asked most frequently in recent months has probably been, “When do you think healthcare real estate development and monetization activity will rebound?” Folks recall wistfully the boom of the early to mid-2000s, before the capital crisis, Great Recession […]
Product Focus: Is off-campus the new on-campus?
INVESTORS’ VIEWS OF THE ‘BEST’ MOBS MIGHT BE CHANGING, BOMA PANEL SAYS By Murray W. Wolf Is off-campus the new on-campus for healthcare real estate investors? Not long ago, one of the unwritten laws of medical office building (MOB) investing was that on-campus MOBs were almost invariably more desirable than comparable off-campus facilities. Sure, investors […]
Special Report: Capital markets are stable – for now
BOMA PANEL PONDERS DEBT, EQUITY, CONSOLIDATIONS, MONETIZATIONS, MORE By Murray W. Wolf. After two difficult years, the current capital market environment for healthcare real estate might not be the “new normal,” as some have suggested. But prevailing conditions with respect to debt and equity markets, capitalization rates, and interest rates are likely to remain at […]
Special Report: Ventas looks to grow MOB platform
CEO DEBRA CAFARO TALKS ABOUT RECENT ACQUISITIONS, REIT’S FUTURE PLANS By John Mugford In early 2011, Chicago-based Ventas Inc. (NYSE: VTR) made quite a news splash when it entered an agreement to acquire another large, publicly traded healthcare real estate investment trust (REIT), Newport Beach, Calif.-based Nationwide Health Properties Inc. (NYSE: NHP). By summer, the […]
People: RTKL promotes five in healthcare to new positions
JUPITER, Fla. – Jupiter-based VERSA Property Management recently appointed Michelle McCartney as property manager. Ms. McCartney will oversee the day-to-day operations of VERSA’s Illinois properties, as well as its properties in Ohio, Missouri and New York. Ms. McCartney comes to VERSA with a total of 15 years of property management experience, six of which involved […]
Companies: Cain Brothers represents VHS in deal
PUBLICLY TRADED VANGUARD ACQUIRES MAJORITY INTEREST IN TEXAS SYSTEM By John Mugford Acquisitions of independent hospitals by larger companies and health systems are continuing at a rapid pace. In a recent example, Nashville, Tenn.-based Vanguard Health Systems (NYSE: VHS), a publicly traded system with 26 hospitals and complementary facilities nationwide, acquired a 51 percent interest […]
Companies:Virtua Voorhees hospital now open
HAMMES, TURNER, HGA LEAD PROJECT TEAM FOR $463M NEW JERSEY FACILITY By John Mugford What is being billed as the “hospital of the future” because of its emphasis on technology and safety opened recently in Voorhees, about 20 miles southeast of Philadelphia. The new 368-bed Virtua Voorhees hospital opened May 22 after more than 10 […]
Inpatient Projects: Mercy reveals $950M Joplin makeover
PLAN WOULD REPLACE, EXPAND MED CENTER DESTROYED BY EXTREME TORNADO By John Mugford The ABC TV reality show “Extreme Makeover: Home Edition” is scheduled to rebuild “multiple homes” in tornado-ravaged Joplin, Mo., next month. An EF5 tornado – the fiercest category – which ripped through the southwestern Missouri community May 22, killed scores of people […]
Outpatient Projects: NexCore’s N.Y. project on track for ‘12
$30 MILLION, THREE-STORY, 85,000 SQUARE FOOT FACILITY IS BEING BUILT FOR UHS By John Mugford All of the structural steel is in place for a future 85,000 square foot outpatient facility in Vestal, N.Y., located in the south-central part of the state, about 110 miles south of Syracuse. Denver-based NexCore Group is the developer of […]