News & Analysis: MOBs (October 2006)
Can cap rates keep falling? YES, AT LEAST FOR Q2; AVERAGE MOB PSF RISES TO $221 By John Mugford Just when many folks involved in medical office building (MOB) sales figured cap rates were finally starting to level off, recent statistics show they continued on their steady decline into the second quarter of […]
Market Focus: New Orleans (October 2006)
Still struggling a year after Katrina SEVEN OF NEW ORLEANS’ 16 HOSPITALS REMAIN CLOSED; THERE ARE SOME POSITIVE SIGNS By John Mugford Shortly after Hurricane Katrina and the subsequent flooding devastated New Orleans in August and September 2005, there were serious concerns that the city might never return to its old self: a festive […]
Inpatient Projects (October 2006)
No more scaling back UCSF’s hospital AFTER MANY CHANGES, MISSION BAY PROJECT NOW COULD COST UP TO $1.3 BILLION By Brian Busek SAN FRANCISCO – University of California regents have changed course for the second time this year in their planning for a new UCSF hospital complex at Mission Bay, and the new […]
Industry Pulse (October 2006)
MEMPHIS, Tenn. – Methodist Healthcare of Memphis recently announced plans to seek a Tennessee Certificate of Need (CON) approval for a major expansion of its main facility and a replacement for its children’s hospital. Together, the two projects would have a total cost of $451 million. The larger of the two projects would be the […]
Howard Patterson necrology (October 2006)
An ‘old dirt guy’ through and through HOWARD PATTERSON, 57, WAS KNOWN AS HCA’s REAL ESTATE GURU AND A GOOD GUY By John Mugford For several years, the corporate real estate team at the country’s largest hospital owner, Nashville, Tenn.-based HCA Inc. (NYSE: HCA), bestowed an honor upon an employee in its property management […]
Company Profile: Jones Lang LaSalle (October 2006)
Firm has a jones for medical real estate GIANT JONES LANG LaSALLE FORMALIZES HEALTHCARE FOCUS WITH NEW PRACTICE By Beth Mattson-Teig With more than 125 offices worldwide and an array of services to offer, Jones Lang LaSalle Inc. is certainly one of the giants in the commercial real estate industry. Now, the Chicago-based […]
Senior Living (September 2006)
A $649 million whopper in senior sector VENTAS AGREES TO BUY 67 FACILITES FROM CANADIAN FAMILY FOR $649 MILLION By John Mugford Ventas Inc., a publicly traded real estate investment trust that concentrates on senior healthcare facilities, recently announced that it has entered into a blockbuster of a deal to acquire 67 healthcare and senior […]
Publisher’s Letter (September 2006)
The alternative to ‘alternative’ INSTITUTIONS CONSIDER MEDICAL REAL ESTATE ‘CORE-PLUS’ Dear Reader: It wasn’t long ago that medical office buildings (MOBs) and other healthcare real estate assets were viewed as a quirky little corner of the commercial real estate market. But, as we have seen since the launch of this newsletter in January 2003, MOBs […]
Publisher’s Letter (September 2006)
Winds of change at HCN REIT PLANS $877M MERGER WITH WINDROSE By John Mugford Coming into 2006, officers with Windrose Medical Properties Trust had no plans for the company to merge with another firm, or to be acquired. Yet, in recent weeks, Indianapolis-based Windrose was part of a big deal – a very big […]
Transactions (September 2006)
Washington REIT continues MOB spree REAL ESTATE INVESTMENT TRUST PICKS UP PORTFOLIO FOR $94 MILLION By John Mugford Washington Real Estate Investment Trust (WRIT), a publicly traded real estate investment trust (NYSE: WRE), has acquired a portfolio of offices that includes a medical office building (MOB) in the northern Washington, D.C., suburbs for $94 million. […]
Project Case Study: Madonna ProActive (September 2006)
Madonna ProActive focuses on health NEBRASKA MEDICAL FITNESS CENTER EMPHASIZES PREVENTATIVE MEDICINE, REHAB By Sonja Pedersen-Green There are at least a couple of reasons why hospital-affiliated medical fitness centers are a growing trend in secondary market cities. First, hospitals in such locales seem to have the ability and time to provide services beyond […]
Product Focus: Medical Fitness Centers (September 2006)
Hospitals look to get ‘fit’ MEDICAL FITNESS CENTERS ARE A GROWING TREND By Sonja Pedersen-Green Not only do medical fitness centers have the ability to keep people healthy, but they have the capacity to make hospitals feel better – financially and image-wise – as well. That’s because medical fitness centers are typically affiliated […]
Outpatient Notes (September 2006)
Phoenix developer plans massive project ALGODON MED OFFICE PARK WOULD CONTAIN 4.2 MILLION SQUARE FEET By John Mugford In what would undoubtedly be the largest medical project in the West Valley of the Phoenix metro area, a development firm run by well-known businessman John F. Long and his family plan to break ground […]
Inpatient Projects (September 2006)
Bayou budget crunch complicates plans RISING CONSTRUCTION COSTS COULD COMPLICATE LOUISIANA REBUILDING EFFORT By John Mugford BATON ROUGE, La. – Recently, Louisiana State University (LSU) officials made good-news announcements about a potential plan to build new hospitals in downtown New Orleans and in Baton Rouge to replace two charity hospitals lost to Hurricane […]
Industry Pulse (September 2006)
BOSTON – Tufts-New England Medical Center and New England Baptist Hospital, both based in downtown Boston, plan to build a suburban hospital with up to 190 beds and a $300 million price tag. Both hospitals are affiliated with the Tufts University School of Medicine. The hospitals have not yet named a specific location. The project […]