Transactions: The Sanders Trust adds to its portfolio
BIRMINGHAM, ALA.-BASED FIRM BUYS INPATIENT REHAB HOSPITAL IN LAS VEGAS By John Mugford The Sanders Trust (TST), a medical real estate investment firm based in Birmingham, Ala., has a goal of adding $100 million to its portfolio in 2011 through acquisitions and development. The company made significant progress toward that goal in May by paying […]
Industry Pulse: May 2011
NAPA, Calif. – A financially troubled MOB complex in California’s wine country is getting a new lease on life thanks to its recent acquisition by White Plains, N.Y.-based Seavest Inc. Seavest’s third healthcare real estate fund, Seavest Properties III, acquired the two-building, 65,000 square foot property at 1100 Trancas St. in Napa for $11.2 million, […]
Companies: $154 million Baylor project complete
DUKE REALTY DEVELOPED THE 459,717 SQUARE FOOT DALLAS CANCER CENTER By John Mugford After nearly two years of construction, the newest crown jewel of the giant, not-for-profit Baylor Health System is now up and running in Dallas. In late March, Baylor opened the $154 million, 459,717 square foot Charles A. Sammons Cancer Center on its […]
Provider News: Sutter reports 45 percent income leap
EVEN SO, LARGE CALIFORNIA SYSTEM LOOKS TO TRIM BUDGET BY $700 MILLION By Dan Emerson Last year was a good one for Sacramento, Calif.-based Sutter Health. In fact, in 2010 Sutter’s profits increased more than 45 percent over the previous year, to $685 million from $471 million in 2009. The healthcare system reported its financials […]
Inpatient Projects: Questions remain for LSU Med Center
SCOPE AND FINANCING STILL IN QUESTION EVEN AS PRE-CONSTRUCTION BEGINS By Dan Emerson As pre-construction work was starting in recent weeks on the proposed $1.2 billion Louisiana State University (LSU) Medical Center in the Mid-City section of New Orleans, federal officials were still in the process of determining what type of hospital will be built […]
Transactions: Grubb & Ellis REIT buys five properties
INVESTMENT TRUST PAYS NEARLY $67 MILLION FOR ASSETS IN SEVERAL STATES By John Mugford With 2011 off to a seemingly slow start for healthcare facility transactions, the two most active non-traded healthcare real estate investment trusts (REITs) accelerated the sales velocity with some significant purchases in the past month or so. The two REITs making […]
News & Analysis: Five LTACs fetch $113M
FACILITIES WERE DEVELOPED, SOLD BY MEDISTAR By John Mugford It looks as if long-term acute care hospitals (LTACs) have hit the radar screen of quite a number of healthcare real estate investors. An example can be found in two recent transactions that, surprisingly, received little publicity at the time of the closings, even here on […]
Industry Pulse: April 2011
NATIONWIDE – Traditionally, healthcare real estate investors seem to have fallen into two categories: Those interested in seniors housing facilities, which includes a host of different product types, and those interested in medical office buildings (MOBs), which also, over the years, have come to include a variety of types. There are so many exceptions to […]
Companies: Inside the Lend Lease DASCO deal
ACQUISITION GIVES DEVELOPER MORE RESOURCES, COMPANY PRESIDENT SAYS By John Mugford It’s probably not news to anyone involved in the healthcare industry that hospitals and health systems are consolidating, and could continue to consolidate, at a fast clip. The trend is being driven by the fact that hospitals need to become as cost-efficient as possible […]
INPATIENT PROJECTS: U of Tennessee to add cancer institute
NEW FACILITY IN KNOXVILLE WOULD BE LARGEST IN REGION, HOSPITAL EXECS SAY By Dan Emerson A mid-year ground breaking is set for a new $20 million cancer institute on the campus of University of Tennessee Medical Center in Knoxville, Tenn. The new facility would have at least 100,000 square feet of space, making it the […]
Transcations: Medical Properties Trust makes buys
REIT THAT FOCUSES ON HOSPITALS BUYS N.J. ACUTE CARE FACILITY, TEXAS LTAC By John Mugford Birmingham, Ala.-based Medical Properties Trust Inc. (NYSE: MPW), a publicly traded real estate investment trust (REIT), recently paid more than $80 million to acquire the real estate assets of an acute care hospital in New Jersey and a long-term acute […]
Special Report: Jump on board for the slow recovery
TODD LILLIBRIDGE PROVIDES ADVICE FOR THOSE LOOKING TO SURVIVE, GROW By John Mugford There has been plenty of talk lately about how healthcare real estate professionals and companies, if they want to survive and perhaps thrive, need to expand their knowledge base and become trusted advisors and resources for hospitals and health systems. In the […]
Provider News: Sutter’s bond issue to fund upgrades
CALIFORNIA SYSTEM RETURNS TO BOND MARKET FOR FIRST TIME SINCE 2008 By Dan Emerson Encouraged by the improving economy, Sutter Health recently returned to the bond market for the first time since 2008 with a $900 million tax-exempt revenue bond issue. The 24-hospital system plans to use about $750 million to upgrade three of its […]
Inpatient Projects: Hospital at The Vintage is unveiled
ST. LUKE’S PARTNERED WITH HAMMES CO. FOR FACILITY IN NORTHWEST HOUSTON By Dan Emerson A new hospital opened recently in a large planned, mixed-use community in northwest Houston. The new hospital, St. Luke’s Hospital at The Vintage, is a 106-bed, four-story, 224,414 square foot facility. It marks the fifth collaboration since 2000 between Houston-based St. […]
Transactions: Duke Realty buys large Charlotte MOB
REIT PAYS $47.7 MILLION FOR MOB ATTACHED TO CAROLINAS MEDICAL CENTER By John Mugford Indianapolis-based Duke Realty Corp. (NYSE: DRE) recently entered the Charlotte, N.C., market with the acquisition of a large medical office (MOB) building. The publicly traded real estate investment trust (REIT) acquired the 190,773 square foot Morehead Medical Plaza I for $47.7 […]
