Companies: Hoar completes projects in Alabama
BIRMINGHAM-BASED CONTRACTOR FINISHES PROJECTS IN GLADSDEN, FAIRHOPE Staff Reports Birmingham, Ala. -based Hoar Construction LLC recently completed expansions at two hospitals in Alabama. The general contractor completed the 60,000 square foot Centennial Tower project at Gadsden Regional Medical Center in Gadsden, Ala. The project included a relocation and centralization of the hospital’s critical care units […]
Inpatient Projects: Hawaii grants CON for Honolulu plan
$36.3 MILLION KAPIOLANI EXPANSION WOULD START IN 2013, BE COMPLETE BY 2016 By John Mugford Rising demand for services prompted Kapiolani Medical Center for Women & Children earlier this year to propose a $36.3 million expansion of its neonatal and pediatric intensive care units (ICUs) in Honolulu. Recently, the state of Hawaii agreed that the […]
Outpatient Projects: Ground broken on MOB in Kyle, Texas
BREMNERDUKE DEVELOPING 96,829 SF FACILITY ON NEW SETON HAYS CAMPUS By John Mugford When Indianapolis-based BremnerDuke Healthcare Real Estate opened its South region office in Dallas in the summer of 2007, it was looking to bring in more business in that area of the country. So far so good, as BremnerDuke has landed at least […]
Capital Markets Snapshot: Capital markets look to be warming
LIBOR-OIS SPREAD CONTINUES TO IMPROVE; CREDIT SPREADS ARE NARROWING As spring moves into summer, the thaw in the credit markets appears to be accelerating. Expectations of economic improvement by mid- to late-2009, the government’s aggressive fiscal and monetary policies, improved access to capital by the financial sector, and strong core earnings by the banking sector […]
News & Analysis: $154M Baylor deal done
NOW DUKE SEEKS JV FOR ANOTHER 1.9 MILLION SF By John Mugford Now that Duke Realty Corp. (NYSE: DRE) has found an equity partner for its massive Baylor Cancer Center project, the firm is seeking a joint venture (JV) investor for 19 additional healthcare properties totaling more than 1.9 million square feet. That’s according to […]
Productions: No MOB turnaround yet
Q1 SALES SANK, BUT SOME SAY A REBOUND IS NEAR By John Mugford As the recession took hold in 2008 and slowed the healthcare real estate sector, some industry veterans speculated that one aspect of the business – the sales of medical office buildings (MOBs) – would begin showing signs of a comeback in the […]
Industry Pulse: May 2009
SILICON VALLEY, Calif. – Silicon Valley has long been known as a hotbed of high-tech. Now it is looked upon as a place where hospital beds are being built despite the recession. A recent study by the California Hospital Association indicates that 41 percent of the state’s hospitals have halted construction projects or major equipment […]
Editor’s Letter: ‘Despite the recession…’
U.S. RECOVERY MIGHT BE REPORTED HERE FIRST By John B. Mugford Dear Reader: We all know there’s truth to the notion that a recession can be a self-fulfilling prophecy. As the economy slows and certain sectors shed jobs, people and businesses spend less, which hurts other sectors as well. In addition, when a recession hits, […]
Sunrise avoids bankruptcy – for now
SENIOR LIVING FIRM BUYS TIME TO STRUCTURE NEW LONG-TERM FINANCING DEAL By Murray W. Wolf When a market leader like General Motors Corp. (NYSE: GM) teeters on the edge of bankruptcy, it stokes concerns about the entire automotive industry. The same might be said of the senior living business, where bankruptcy could loom for the […]
Special Report: Med developers see pent-up demand
TODAY’S LULL WILL ONLY DELAY THE INEVITABLE, CONFERENCE SPEAKERS PREDICT By Murray W. Wolf Medical real estate development and investment might be experiencing a lull in many geographic markets right now, but the healthcare sector will be busier than ever when the U.S. economic recession ends. That was the upbeat prediction made by a panel […]
Companies: Phoenix firm lands major contract
ENSEMBLE DEVMAN PROVIDES LEASING, MANAGEMENT OF 709,026 S.F. PORTFOLI Staff Reports Ensemble DevMan of Arizona was recently chosen to provide leasing, asset management and property management services for a 19-property, 709,026 square foot medical office portfolio in the West Valley of the Phoenix metropolitan area. The portfolio is owned by Sarasota, Fla.-based KRW Medical Office […]
Companies: Trammell Crow looks to new leader
JUD JACOBS GETS TOP HEALTHCARE JOB; KEVIN O’NEIL RETURNS TO PAST ROLE By Murray W. Wolf Trammell Crow Co.’s healthcare real estate business has grown from six clients in mid-2002 to more than 50 today, including a reported 124 percent increase in dollar volume in 2008, to more than $651 million. With more than 2 […]
Inpatient Projects: $400M project eyed for Inland Empire
RIVERSIDE, CALIF., HOSPITAL EXPANSION WOULD BRING BED COUNT TO NEARLY 500 By John Mugford Even though the recession has slowed the building of new inpatient and outpatient healthcare projects nationwide, industry veterans say development probably would never come to a complete standstill. That’s because there will always be special circumstances – such as new technological […]
Outpatient Projects: PMB developing MOB at California U.
FUTURE 68,000 SF FACILITY TO HOUSE THREE NEW COLLEGES IN PONOMA, CALIF. By John Mugford A three-story, 68,000 square foot facility being developed on the campus of Western University of Health Sciences in Ponoma, Calif., is slated to house three of the university’s newly formed teaching colleges. The future Patient Care Center, as Western is […]
Transactions: San Antonio MOB trades for $13.7M
NEW YORK-BASED REAL ESTATE ENTITY BUYS STONETERRA MEDICAL PLAZA By John Mugford Because potential buyers of medical office buildings (MOBs) have become more selective about their transactions in the current economy, some properties are sitting on the selling block a bit longer than they would have just a year or so ago. But eventually, professionals […]