2017 HREI Insights Awards: Insights Awards winners announced
Fifth annual HREITM awards program recognizes top HRE projects and people We capped another great year for Healthcare Real Estate Insights™ Dec. 7, 2017, as we presented the 2017 HREI Insights Awards™ during the RealShare Healthcare Real Estate Conference in Scottsdale, Ariz.
Transactions: Harrison Street ends ‘17 with a bang
Private equity firm lands Northern Virginia ‘trophy’ asset in for $62.5 million By John B. Mugford Chicago-based Harrison Street Real Estate Capital LLC, a private equity investor with more than $12.2 billion of assets under management, is no stranger to making big medical office building […]
Post-Acute & Senior Living: Mainstreet Health Investments to buy Care Investment Trust and portfolio for $425 million
Toronto-based Mainstreet Health Investments (TSX: HLP-U) in late November entered agreements to acquire Care Investment Trust LLC and its portfolio of 42 seniors housing properties for about $425 million. The seller is New York-based Tiptree Inc. (NASDAQ: TIPT).
Post-Acute & Senior Living: SNF occupancies continue to fall
Payer mix also a concern as percentage of lower-revenue care is rising, NIC says By John B. Mugford Owners and operators of skilled nursing facilities (SNFs) are certainly hoping that occupancies pick up nationwide in 2018.
Transactions: Physicians Realty Trust makes $190 million of Q3 investments; revenue up 32.8 percent
Milwaukee-based Physicians Realty Trust (NYSE: DOC), a publicly traded REIT focused on MOBs, made $190 million worth of investments during the third quarter (Q3) 2017, the company noted in a Nov. 3 news release detailing its Q3 performance. The
Inpatient Projects: The Neenan Company, as design-builder, completes replacement hospital in Hazen, N.D.
Denver-based The Neenan Company recently completed and opened a replacement hospital for Sakakawea Medical Center in Hazen, about 70 miles northwest of Bismarck., N.D. The company
Industry Pulse: HRE Firms See An Even Stronger 2018
Straw poll finds that most anticipate further growth As they head into 2018, some of the healthcare real estate (HRE) sector’s leading professionals are bullish about their business prospects for the year ahead.
Inpatient Projects: 72-bed psychiatric hospital to open in Columbia, Mo., in third quarter of 2018
A future 72-bed, full-service behavioral hospital in Columbia recently received construction-to-permanent financing and is expected to open in the third quarter (Q3) of 2018. Securing the
Transactions: Kayne Anderson, MB Real Estate pay $34.8 million for two-MOB portfolio in Greater San Diego
Data from RCA indicates that Los Angeles-based Kayne Anderson Capital Advisors, in a partnership with Chicago-based MBRE Healthcare, in late November acquired a two-property, 101,268
Winner: Best New Mob (100,000 SF or more): Davis adapts development on the fly
Firm expanded Minnesota project twice after construction was already underway Working with Minneapolis-based healthcare real estate developer Davis, the HealthEast system identified on-campus and off-campus ambulatory services, both owned and affiliated, to consolidate into a one-stop destination ambulatory facility adjacent to its Maplewood, Minn., hospital campus.
Post-Acute & Senior Living: New care unit opens at Kearsley Rehabilitation and Nursing Center in West Philadelphia
A new 30-room, multi-million dollar sub-acute care unit has opened at the 84-bed Kearsley Rehabilitation and Nursing Center in West Philadelphia. The skilled nursing facility (SNF), which received a
Outpatient Projects: Seavest repositions MOB complex
New marketing campaign underway for 160,000 s.f. complex at Inova Fair Oaks By John B. Mugford Seavest Healthcare Properties does not necessarily have a stated goal of acquiring value-add medical office buildings (MOBs), but it has done so rather successfully multiple times in recent years.
Winner: Best New Mob (25,000-49,999 S.F.): UPMC delivers comprehensive care
‘Medical Home’ consolidates outpatient care, facilitates shared resources The University of Pittsburgh Medical Center (UPMC) sought to better serve the growing population of Hampton Township, about 30 minutes north of downtown Pittsburgh, by consolidating multiple care locations along the Pennsylvania Route 8 corridor.
Winner: Best Renovated / Repurposed: Meridian brings tired MOBs up to par
Firm anticipates that upgrades will boost occupancy to 95 percent from 70 percent When Meridian acquired Cotton Medical Center’s two buildings, company executives knew they are extremely well-located but that the interiors and amenities were outdated and weren’t keeping pace with the marketplace.
Transactions: MOB trades hands in New York’s Southern Tier; Jacobson Properties brokers transaction
The Our Lady of Lourdes Memorial Hospital Orthopedics Building, a 23,383 square foot MOB in Johnson City, in the Southern Tier region of the state,