Capital Markets Snapshot: Europe’s turbulence a concern here
U.S. HCRE INVESTORS WILL NEED TO BALANCE FALLING YIELDS WITH RISKS By Cain Brothers A few months ago, healthcare investors were most concerned with trying to read the U.S. Supreme Court tea leaves. Now, however, we should all be worried about significant capital market turbulence coming from Europe and, to a lesser degree, China. Greece’s […]
Companies: HTA: Time to be listed
REIT TO BE TRADED ON NEW YORK STOCK EXCHANGE By John Mugford As Healthcare Trust of America (HTA) Inc. has gone about preparing in recent weeks for a listing of its stock on the New York Stock Exchange (NYSE) on or about June 6, it has been touting its performance as a non-listed healthcare real […]
Editor’s Letter: Another good survey
CBRE’S NEW REPORT PROVIDES USEFUL DATA By John B. Mugford Dear Reader: Plenty of very informative and educational materials concerning our sector, healthcare real estate, come across our desks here at Healthcare Real Estate Insights™. Included are a growing number of surveys that track how professionals and organizations in the business are feeling about the […]
Transactions:AW, MedProperties acquire portfolio
OWNER/OPERATOR, PRIVATE EQUITY FIRM BUY SIX MOBS IN SOUTHWEST FLORIDA By John Mugford Palm Beach Gardens, Fla.-based AW Property Co. has a goal of substantially adding to its medical office building (MOB) portfolio – up to $250 million worth – in its home state of Florida in a three-year period. At the same time, Dallas-based […]
Transactions: HTA makes big entry into Boston area
REIT ACQUIRES 13-BUILDING PORTFOLIO FROM STEWARD HEALTH CARE FOR $100M By John Mugford Greater Boston’s medical office building (MOB) market is considered a very difficult one to crack into, especially when it comes to the third-party ownership of on-campus facilities. A lack of developable land on which to build and a reluctance by many of […]
Capital Markets Snapshot: Markets quiet; job data scrutinized
TAX-EXEMPT MARKET REMAINS ROBUST AS AA-RATED SYSTEMS ISSUE BONDS By Cain Brothers The markets have been relatively quiet recently as economic releases continue to befuddle investors. Initial jobless claims came in a bit soft for the second week in a row, and, to nobody’s surprise the prior week’s figures were revised upward (meaning more claims). […]
Q & A: Strong year anticipated
JOHN SMELTER SAYS ‘STARS ARE ALIGNED’ FOR MOBS By John Mugford These days, John R. Smelter is well known as one of the most active and knowledgeable sales professionals in the medical office building (MOB) transaction market. As a broker who works out of the San Diego office of Marcus & Millichap, Mr. Smelter is […]
Special Report: Adaptive reuse on a roll
PROVIDERS HAVE REPURPOSED MILLIONS OF SQ. FT. By Murray W. Wolf There has been a lot of talk in recent years about repurposing other types of real estate for medical use. With millions of square feet of office and retail space sitting vacant across the nation, much of it in high-traffic locations, the idea of […]
Companies: JLL-led 410-bed hospital project done
NEW PARKVIEW REGIONAL MEDICAL CENTER HAS OPENED IN FORT WAYNE, IND. By John Mugford There were weather challenges and a labor strike to overcome, but the new Parkview Regional Medical Center in Fort Wayne, Ind., was completed a month early and was basically $11 million under budget. The 410-bed hospital project was led by a […]
Capital Markets Snapshot: Hospital consolidation is evolutionary
M&As CAN BE A STRATEGIC OPPORTUNITY IN A HIGHLY FRAGMENTED INDUSTRY By Cain Brothers A recent panel discussion by healthcare providers highlighted that they each faced consolidation pressures from healthcare reform. Assuming healthcare reform isn’t struck down by the U.S. Supreme Court, the key drivers include daunting capital needs, major changes in the reimbursement model […]
Provider Perspective: Off-campus plans grow
OUTPATIENT STRATEGIES ARE A PROVIDER PRIORITY By Murray W. Wolf According to some estimates, 70 percent of healthcare today is still delivered in an inpatient setting. But, some predict that during the next several years, the pendulum will swing to 70 percent of the care being delivered in outpatient locations – and many of those […]
Capital Markets Snapshot: Healthcare real estate still a haven
AS INVESTORS LOOK FOR LOWER RISK, DEMAND COULD LOWER MOB CAP RATES By Cain Brothers The capital markets graphs that accompany this commentary show a sharp decline in the longer-term debt yields, with 10-year Treasury yields trading to and through 2 percent. The yields on 10-year tax-exempt debt has converged to the same level as […]
Special Report: Whither monetizations?
HOSPITALS REPORTEDLY CONSIDERING SELLING MOBs By John Mugford Little did professionals involved in healthcare real estate know that when the Greenville Hospital System in South Carolina sold 16 medical office buildings (MOBs) to an investor back in 2009, the type of sale that took place – often referred to as a health system “monetization” – […]
Product Focus: A strong close to 2011
FOURTH QUARTER SAW BIG JUMP IN MOB SALES By John Mugford Medical office building (MOB) sales were cruising along at a good and above average pace for most of 2011 until – wham! – they took off in the fourth quarter (Q4), just as many sales professionals had predicted. In fact, MOB sales in Q4 […]
People: REIT’s new co-sponsor adds execs
AMERICAN HEALTH INVESTORS NAMES TEAM AT GRIFFIN-AMERICAN HEALTHCARE By John Mugford Recently formed American Healthcare Investors, a commercial real estate investment firm that focuses on the acquisition and management of healthcare-related properties, recently announced the hiring of several professionals to fill the roles of division heads and key executives. The company is one of the […]
