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 […]
Outpatient Projects: Frauenshuh, Franciscan team for MOB
120,000 S.F. FACILITY UNDER WAY ON ST. JOSEPH CAMPUS IN TACOMA, WASH. By John Mugford Consolidating doctors currently scattered in various locations near and on a large hospital campus is one of the major drivers of a future $62 million medical office building (MOB) and parking garage project now under construction in Tacoma, Wash. The […]
Capital Markets Snapshot: Volatility bodes well for medical R.E.
REIMBURSEMENT CUTS, STRONGER WORLD ECONOMY COULD CHANGE THAT By Cain Brothers As we transition from summer to autumn, the capital markets remain highly volatile due to slow economic growth and challenging sovereign debt challenges. The fundamental challenge facing global investors is the markets’ rapidly shifting assessment of risk, compounded by anemic economic growth. This has […]
Q & A: MOBs drive HTA strategy
MARK ENGSTROM STILL SEES AMPLE OPPORTUNITIES By John Mugford Anyone who follows the medical real estate sector has watched Healthcare Trust of America Inc. (HTA) build its large portfolio of medical office buildings (MOBs) by relying on its many health system relationships, an aggressive acquisitions strategy, a willingness to move into almost any geographic region […]
News & Analysis: $100M for Hundred Oaks?
PIONEERING MEDICAL-RETAIL HYBRID UP FOR SALE By John Mugford For sale: the roughly 880,000 square foot One Hundreds Oaks Mall in Nashville, Tenn. Estimated asking price: $100 million-plus. Why is this news important to healthcare real estate professionals and investors? About half of the facility is occupied by Vanderbilt Health. Back in 2007, just as […]
Industry Pulse: September 2011
BOSTON – In July, Boston-based American Realty Capital (ARC) Healthcare Trust Inc., a non-traded real estate investment trust (REIT) sponsored by American Realty Capital V LLC, announced that it had entered a contract to acquire a dozen medical properties for a total of $257.5 million. On Sept. 19, the REIT closed on the acquisition of […]
Editor’s Letter: We have news aplenty
TRICK IS TO GET IT ALL INTO THE NEWSLETTER John B. Mugford Dear Reader: I’m sitting here at my desk in the beautiful Minneapolis suburb of Minnetonka, Minn., occasionally looking out the window upon a beautiful summer day of sunny skies and temperatures in the 80s. We just wrapped up this edition of Healthcare Real […]
Special Report: ULI healthcare group flies under radar
URBAN LAND INSTITUTE HAS BEEN QUIETLY DEVELOPING A HEALTHCARE COUNCIL By Murray W. Wolf Most of the growing number of professional associations and media companies that sponsor healthcare real estate conferences seem to think bigger is better. More registrations, more sponsors, more publicity – it’s all good. But the Healthcare and Life Sciences Council of […]
Provider Perspective: Healthcare following familiar pattern
CHW’S JEFF LAND TELLS ULI THAT HE SEES PARALLELS WITH OTHER CHANGES By Murray W. Wolf The world of healthcare facilities architecture, engineering and construction (AEC) went through a period of dramatic change back in 2004-07, according to Jeffrey W. “Jeff” Land. The VP of corporate real estate for San Francisco-based Catholic Healthcare West (CHW) […]
Special Report: Recent deals suggest sellers’ market
BOMA PANELISTS EXPLORE IMBALANCE OF REAL ESTATE SUPPLY AND DEMAND By Murray W. Wolf Anyone who has been involved in commercial real estate for more than five minutes knows there is probably no such thing as a “typical” deal. There are too many variables – geographic market, specific location within that market, age of the […]
Inpatient Projects: New replacement opens doors in N.Y.
$350M ORANGE REGIONAL MEDICAL CENTER REPLACES TWO AGING CAMPUSES By John Mugford New freestanding replacement hospitals don’t come along very often in the state of New York. In fact, it’s been more than two decades since the last new one was completed anywhere in the Empire State. Until now, that is. The 383-bed, $350 million […]
HR Trust to pay $173.5 million for eight Virginia MOBs
RICHMOND, Va. – Nashville, Tenn.-based Healthcare Realty Trust (NYSE: HR), a healthcare real estate investment trust (REIT), entered an agreement in June to acquire eight MOBs affiliated with Richmond-based Bon Secours Health System. According to a U.S. Securities and Exchange Commission (SEC) filing by Healthcare Realty, the agreed upon sale price is $173.5 million. The […]