Provider Perspective: Finding opportunity amid difficult times
SYSTEM EXECUTIVE SAYS REAL ESTATE FIRMS CAN PARTNER WITH HOSPITALS By John Mugford When thrown together, the sagging economy, the financial difficulties facing health systems and a continued demand for healthcare services as baby boomers enter retirement could actually create a perfect storm – in a good way – for companies involved in healthcare real […]
Companies: Seavest obtains $11M in MOB financing
PROJECT WILL BE FIFTH DEVELOPMENT FIRM HAS DONE FOR FLORIDA HOSPITAL Staff Reports At a time when the capital market is extremely tight, White Plains-based Seavest Inc. recently secured an $11 million construction loan for a 60,000 square foot medical office building (MOB) in Orlando, Fla.. The Surgical Medical Plaza MOB is under construction on […]
Outpatient Projects: $30 million Texas MOB moves forward
TWO-PHASE, 160,000 S.F. DEVELOPMENT IS UNDER CONSTRUCTION IN GEORGETOWN By John Mugford A local developer has put together a group of investors, which includes 25 physicians, and started a 99,600 square foot medical office building (MOB) in Georgetown, Texas, a town of about 50,000 people. The lead developer is Randy Mongold of San Gabriel Contract […]
Transactions: Lillibridge buys two Ascension MOBs
BUILDINGS ARE ON THE CAMPUS OF PROVIDENCE HOSPITAL IN WASHINGTON, D.C. By John Mugford Healthcare real estate firm Lillibridge recently acquired two medical office buildings (MOBs) with a total of 101,000 square feet of space on the campus of Providence Hospital in Washington, D.C. The transaction is Lillibridge’s eighth in the past decade or so […]
Capital Markets Snapshot: Healthcare insulated, but not immune
ECONOMIC DOWNTURN, CONTRACTING CREDIT MARKET PRESENT BIG CHALLENGE As we move past the initial euphoria of President Obama’s inauguration, it is becoming clear that the audacity of hope is colliding full square with the enormity of our economic difficulties. The passage of a nearly $800 billion stimulus plan has confirmed that the federal government is […]
Product Focus: Second-half slowdown
HOSPITAL WOES, ECONOMY HURT MOB SALES IN 2008 By John Mugford The year 2008 did not seem like just one year, it was like two or three years depending on how you break the months up.” When Kevin O’Neil, the senior managing director of healthcare real estate for Dallas-based Trammell Crow Co., said those words […]
Special Report: Strategies in tough times
ALIGN WITH HEALTHY HOSPITALS, HREI™ BOARD SAYS By John Mugford As 2008 came to a close, members of the Editorial Advisory Board of Healthcare Real Estate Insights™ were asked to talk about the future of healthcare real estate, concentrating on recession-laden 2009 and perhaps beyond. It was quite evident that the board members had many […]
Industry Pulse: February 2009
CLARKSBURG, Md. – Rockville, Md.-based Adventist HealthCare in early February filed a Certificate of Need (CON) application with the Maryland Health Care Commission to build a new 60-acre hospital campus in Clarksburg, about an hour east of Baltimore. The hospital is slated for a fast-growing area of upper Montgomery County. Plans call for the construction […]
Publisher’s Letter: Time to play it smart
CAREFUL. EVEN HEALTHCARE ISN’T BULLETPROOF. by Murray W Wolf Dear Reader: During the past year, it’s safe to say that we have dispensed with the notion that healthcare real estate is recession-proof. But we’re now beginning to get a troubling taste of how the recession might ultimately affect this sector. Clearly, there are still opportunities […]
Special Report: Are changes ahead for ground leases?
SOME HREI™ BOARD MEMBERS SAY SOME RESTRICTIONS COULD BE ON THE WAY OUT By John Mugford As medical office buildings (MOBs) became a hot commodity and more of a core investment in recent years, it seemed as if health systems selling such properties held all of the cards in their favor. In many sales, or […]
Q&A: ‘More demand than ever,’ Lauth says
NEW HEAD OF FIRM’S HEALTHCARE GROUP SAYS THAT PIPELINE REMAINS ROBUST By Murray W. Wolf The recession hasn’t been kind to many mainstream commercial real estate firms, and some have reduced payrolls in response to a sharp decline in development activity. Indianapolis-based Lauth Property Group LLC has been no exception. Yet, while business might have […]
People: DASCO Cos. Hires W. Todd Jensen as a senior VP
PALM BEACH GARDENS, Fla. – W. Todd Jensen recently joined Palm Beach Gardens, Fla.-based DASCO Cos. as senior VP, strategic relationships. Mr. Jensen has been working in real estate development for more than 20 years and was most recently with the healthcare group at Indianapolis-based Lauth Property Group. At DASCO, Mr. Jensen is responsible for […]
Companies: Bringing ASCs to the GCC
HAMMES, HEALTH INVENTURES TARGET MIDDLE EAST By John Mugford For its next big assignment, Broomfield, Colo.-based Health Inventures LLC is doing something totally familiar in a completely new setting. The owner and operator of ambulatory surgery centers (ASCs) throughout the United States was recently chosen by Bahraini-based Safe Hands Health System Holding Co. (SHHS) to […]
Outpatient Projects: Norfolk doc’s MOB dream coming true
LAUTH IS TEAMING WITH DR. KEITH NEWBY ON $70 MILLION FORT NORFOLK PLAZA By John Mugford Even though the medical district in downtown Norfolk is rife with healthcare facilities, the area had not seen the development of a new medical office building (MOB) in nearly four decades. Anyone paying attention to what’s currently happening with […]
Transactions: Grubb & Ellis takes $25.5M portfolio
HEALTHCARE REIT BUYS 10 MOBs IN ONE DEAL, PLUS MORE IN GEORGIA AND TEXAS By John Mugford Perhaps Grubb & Ellis Health-care REIT Inc. can help revive the slumping medical office building (MOB) acquisition market. At a time when MOB acquisition news is sparse, the privately operated Santa Ana, Calif.-based healthcare real estate investment trust […]