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two buildings, company executives knew they are extremely well-located but that the interiors and amenities were outdated and weren’t keeping pace with the marketplace.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,
Winner: Best New Mob (Less Than 25,000 S.F.): Meridian meets MOB’s challenges
Firm’s flexibility enabled it to complete difficult infill project in under 10 months Meridian was tasked with developing a medical office building that fit the client’s specific needs, including finding a location in a busy corridor in Oakland, Calif., that had very limited development opportunities. In addition, the project had to make economic sense for […]
REIT Report: Well tower invests in cancer center
Mission Hospital facility slated for site next to retail mall in Mission Viejo, Calif. By John B. Mugford Count Welltower Inc. (NYSE: HCN) among the healthcare-focused real estate investment trusts (REITs) that would like to get involved in new outpatient development projects.
2017 HREI Insights Awards: John T. Thomas is top exec for 2017
He’s led Physicians Realty Trust in building its portfolio to $4 billion since its founding in 2013 The launching of Milwaukee-based Physicians Realty Trust (NYSE: DOC) took place rather quietly back in 2013, as the real estate investment trust (REIT) commenced with an initial portfolio of 19 medical office buildings (MOBs) valued at about $125 […]
Inpatient Projects: After long wait, ground is broken for new $543 million hospital in Prince George’s County, Md.
A decade-long effort to replace the struggling Prince George’s Hospital Center in Cheverly, Md., will come to an end in 2021. Elected officials, including Maryland Gov. Lawrence J. Hogan Jr., as well as health system, civic and business were on hand recently for the
Companies & People: Caddis starts MOB investment fund
Expects to invest up to $300 million annually; focus is on long-term ownership By Murray W. Wolf In what they describe as “a major strategic shift,” Caddis executives announced last month that the firm has closed on its first investment fund to acquire fixed-income core medical office building (MOB) assets across the country.
Transactions: Local physicians, investors acquire 80,000 square foot building on San Antonio campus
PPH Real Estate LLC, a partnership of San Antonio physicians and investors, recently acquired an 80,000 square foot medical building on the campus of CHRISTUS Santa Rosa Medical Center. The seller of the building at 5109 Medical Drive was Dallas-based Stream
Post-Acute & Senior Living: Ryan Cos. US, LCS and Harrison Street start another continuum of care community
A partnership of Minneapolis-based Ryan Companies US Inc., Des Moines, Iowa-based LCS and Chicago-based Harrison Street Real Estate Capital in mid-December started construction on its third
Winner: Best New Mob (50,000-99,999 S.F.): NexCore MOB satisfies growing need
WCF Women’s Health Center brings new services to high-growth area of Tampa Women’s Care Florida, a major specialty women’s health group with more than 200 providers and 67 locations in Florida, covers more than 60 percent of female OB/GYN patients in the Tampa market.
Industry Pulse: IRET To Sell Entire Mob Portfolio For $417.5m
Harrison Street said to be the buyer of a 29-asset portfolio with 1.3 million square feet As part of its strategic transformation to focus solely on multifamily properties, Minot, N.D.-based IRET (NYSE: IRET), which also has a major office in Minneapolis, announced Nov. 30 that it has agreed to sell its 28-property, 1.3 million square foot […]
Transactions: NFK’s Global Healthcare team brokers $38.4 million sale of two-MOB portfolio in Virginia
The Global Healthcare Services team with Newmark Knight Frank (NFK) facilitated the mid-November sale of a two-building medical office building (MOB) portfolio in Virginia Beach. The sale price was $38.4 million for the two buildings with a total of 86,377 square feet. The MOBs, which are […]
Hot Property: Single asset with strong tenants
Charlotte, N.C., MOB is 95 percent leased in area of strong demographics Charlotte, N.C.-based Carolina Neurosurgery & Spine is one of the oldest and largest neurosurgical practices in the country, as it has 48 doctors working out of 11 locations throughout North and South Carolina.
Inpatient Projects: Nationwide Children’s in Columbus starts $158 million behavioral health pavilion
Nationwide Children’s Hospital in Columbus broke ground recently for what will become the nation’s largest facility dedicated to providing behavioral health services to children and adolescents. The $158 million, nine-story, 386,000 square foot Big Lots
Companies & People: As part of growth plan, Pacific Medical Buildings hires Ken Henry to lead new Dallas office
In establishing a new office in Dallas, San Diego-based Pacific Medical Buildings (PMB) has hired Ken Henry as senior VP – development. Mr. Henry, who was previously the VP of healthcare development for Lend lease, will establish PMB’s Dallas office and