News & Analysis: Pacific closes the book on CHW deal
FIRM ACQUIRES THE LAST SIX PROPERTIES THAT WERE PART OF 2003 AGREEMENT By John Mugford Pacific Medical Buildings (PMB) has closed the book on its 2003 deal to acquire more than 1 million square feet of medical office space from Catholic Healthcare West (CHW) with the acquisition of six more buildings. The San Diego-based medical […]
Publisher’s Letter: It’s capitalism at work
WE’RE NOT TO BLAME FOR RISING HEALTH COSTS By Murray W. Wolf Dear Reader: Recently, a local newspaper reporter called me seeking comments on the topic of healthcare real estate. I was flattered, but I tried to beg off. Although I know quite a bit about that topic, that’s only thanks to what I’ve learned […]
Product Focus: Moratorium ends – not
MORE STUDY KEEPS SPECIALTY HOSPITALS ON HOLD By Murray W. Wolf Technically, the 18-month moratorium on new physician-owned specialty hospitals ended June 8. In effect, however, the ban has been extended to January 2006 while the Centers for Medicare and Medicaid Services (CMS) reviews possible changes in Medicare reimbursement rates. CMS plans to reform Medicare […]
News & Analysis: HCP to sell more MOBs
38 ASSETS ARE ON THE MARKET, SOURCES SAY By John Mugford There is talk among healthcare real estate insiders that the days of seeing large medical office building (MOB) portfolios put on the sale block are becoming fewer and farther in between – and there is some evidence to support that contention. However, Healthcare Real […]
Industry Pulse: July 2005
HOUSTON – Methodist Hospital System of Houston recently sketched plans for more than $1 billion in expansion projects over a 10-year period. The work would be done at four hospitals owned by the system. Planned projects include: a $250 million, 500,000 square foot outpatient center at Methodist Hospital in Houston; a $150 million, 220-bed expansion […]
Financing and Investment
Fresenius plans to buy Renal Care for about $4 billion BERLIN – Fresenius Medical Care AG (NYSE: FMS), already the world’s largest provider of kidney dialysis services, disclosed last month that it plans to buy Nashville, Tenn.-based Renal Care Group Inc. (NYSE: RCI) for about $4 billion in cash and assumed debt. Officials of Bad […]
Market Focus: Healthcare firms are betting on Vegas
OPERATORS, DEVELOPERS ANTE UP FOR A CHANCE AT A DEMOGRAPHIC JACKPOT By Murray W. Wolf What happens in Vegas doesn’t always stay in Vegas – at least when it comes to healthcare real estate development. The word’s been out for years among health systems, developers and investors: Betting on Las Vegas is practically a sure […]
Project Case Study: Stanford site targets upscale seniors
ON-CAMPUS RETIREMENT PROJECT CREATES VALUE FOR UNIVERSITY, RESIDENTS By Jessica Griffith When Classic Residence by Hyatt decided to take its continuing care retirement community (CCRC) model to a parcel of land on the Stanford University campus, the allure was not the academic and cultural environment. Nor was it the famous northern California climate “This is […]
Legal Issues: Healthcare real estate deals are tricky
EXPERTS SAY THE COMPLEX LEGAL ENVIRONMENT DEMANDS SPECIAL EXPERTISE By Murray W. Wolf Ensuring that healthcare providers are in compliance when undertaking real estate transactions takes highly specialized legal expertise, according to a panel of experts who participated in a May 12 audio conference: “Legal and Regulatory Issues Affecting Healthcare Real Estate Transactions.” The event […]
Guest Column: Policy would have catastrophic impact
CMS PROPOSAL WOULD SEVERELY LIMIT REPLACEMENT FACILITIES FOR CAHs By Alan P. Richman On April 25, 2005, the Centers for Medicare and Medicaid Services (CMS) proposed a policy change relating to the designation of critical access hospitals (CAHs) as necessary providers. The rule: CMS Hospital Inpatient Prospective Payment System (IPPS) proposed Rule (FY 2006) prohibits […]
Provider Profile: Universal is known for diversification
UHS TARGETS RAPIDLY GROWING MARKETS AND LOOKS BEYOND ACUTE-CARE By Beth Mattson-Teig Universal Health Services (NYSE: UHS) has earned a reputation as a company that is willing to tolerate the risks associated with expanding into new service areas and new markets. Founded in 1978, King of Prussia, Pa.-based UHS is one of the nation’s largest […]
For the Record
INPATIENT PROJECTS Lewes, Del. city officials approved plans for a $25 million, 71,300 square foot expansion at Beebe Medical Center. Construction is to start this spring with completion targeted for late 2006… Southwest Washington Medical Center of Vancouver, Wash. is working on an eight-story hospital tower with 154 private rooms, a surgery center and a […]
Alter+Care plans to develop surgery center in Joliet
JOLIET, Ill. – Provena St. Joseph Medical Center and developer Alter+Care expect to begin construction this spring on a three-story, 70,000 square foot outpatient medical facility and office building in Joliet. Major tenants of the building, known as Madison Medical Plaza, are expected to include Surgery Center of Joliet LLC. The target date for completion […]
Duke Realty Corp. plans $102 million in health projects
INDIANAPOLIS – Indiana-based Duke Realty Corp. (NYSE: DRE) recently unveiled plans to expand its position in healthcare real estate with $102 million in new projects. The largest project is a 350,000 square foot office headquarters in Buffalo, N.Y., that is 100
Seattle real estate firm buys MOBs, enters med arena
SEATTLE – Unico Properties Inc., a Seattle-based real estate investment and management firm, had no healthcare real estate holdings prior to December 2004. But, the firm’s recent acquisitions of two medical properties in the Puget Sound area suggest that the firm is serious about becoming more of a player in the healthcare arena.