News Release: Methodist Health System to build and open Methodist Midlothian Medical Center
Full service hospital will be the first in the growing community Midlothian, Texas, Dec. 28, 2017 /PRNewswire/ — Several months in the making, Methodist Health System is pleased to announce the plan for its eleventh hospital, which will be located in Midlothian. The new facility will be operated in conjunction with the existing Methodist Mansfield Medical Center in order […]
Transactions: Meridian acquires MOB in Orange County, Calif.; plans to make $24 million of improvements
LAGUNA HILLS, Calif. – San Ramon, Calif.-based Meridian recently closed on the acquisition of a value-add, 57,057 square foot MOB in Laguna Hills, in Orange County, Calif. Meridian plans to invest more than $24 million into the 74 percent occupied MOB, known as The Laguna.
Inpatient Projects: Scripps going big in San Diego
But system’s $2.6 billion capital plan could be altered by external forces By John B. Mugford Although San Diego-based Scripps Health announced in November that it intends to spend up to $2.6 billion on construction projects system wide through 2030, officials note that the plan could be put in jeopardy by changes beyond the organization’s […]
Transactions: DOC acquires Texas MOB for $30 million
Physicians Realty Trust buys Midland facility occupied by local health system and USPI By John B. Mugford Milwaukee-based Physicians Realty Trust (NYSE: DOC) recently acquired Legends Park, a 64,200 square foot MOB and ambulatory surgery center (ASC) complex in Midland, in West Texas.
Post-Acute & Senior Living: MedCore Partners, Post Acute Medical team up on post-acute facility in Dover, Del.
DOVER, Del. – Dallas-based MedCore Partners and Enola, Pa. based Post Acute Medical LLC (PAM) are teaming up on the development of what the firms call a “first-of-its-kind” post-acute care facility in Dover.
Outpatient Projects: NexCore breaks ground on outpatient campus next to hospital in Show Low, Ariz.
SHOW LOW, Ariz. – In more news from NexCore Group, the company broke ground Nov. 6 for a 18.81-acre, three-building outpatient campus next to Summit Healthcare Regional Medical Center (SHRMC) in Show Low, a mountain city about 180 miles northeast of Phoenix.
Capital Markets: Spotlight on Cypress West Partners
Chris Cumella reviews the MOB market, their place in it and recent deals By Erik Tellefson In this month’s “Spotlight on” feature we are continuing to focus on private medical office building (MOB) investors, and discussing the overall market and some recent transactions with Chris Cumella of Rancho Santa Margarita, Calif.-based Cypress West Partners (CWP).
Post-Acute & Senior Living: Developer proposes senior campus to replace office in Westchester County, N.Y.
RYE BROOK, N.Y. – A local developer has proposed to raze a mostly vacant office building on a 17.3-acre site in Rye Brook to make way for a 269-unit senior housing campus with townhouses, apartments and assisted living units, according to the local Westchester County Business […]
Hot Property: A small gem in the San Gabriel Valley
Fully occupied MOB in West Covina, Calif., is within two miles of 238 restaurants Name: West Covina Medical Square Address: 1500 block W. Garvey Ave. N. West Covina, Calif. No. of buildings: 2, Square feet: 22,564 Occupancy: 100 percent, Number of tenants: Five Avg. remaining lease term: 4.79 years Brokerage: CBRE SoCal Investment Properties Brokers: Gary P. Stache, […]
Companies & People: Hammes Company hires former health system director of design and construction
In more news from Hammes Company, the Brookfield-based firm has hired a health system executive as part of its Columbus, Ohio, office. Douglas Coover, previously the director of director of design and construction at a four-hospital East Coast system, joined Hammes as VP of facility development.
Post-Acute & Senior Living: Caddis’ Heartis brand continues its Midwest expansion with a senior project in Wisconsin
GLENDALE, Wis. – Dallas-based Caddis, under its Heartis brand, has started the development of its project in Wisconsin. The 105 unit, 96,770 square foot Heartis Village North Shore, in the Milwaukee suburb of Glendale, is expected to open in early 2019.
Companies & People: NexCore Group hires two design and construction veterans during a time of growth
Denver-based NexCore Group recently hired design and construction veterans Rob Stieg and Kyle Robbins.
Post-Acute & Senior Living: Select Medical to open LTACH inside Missouri Baptist Medical Center in St. Louis
ST. LOUIS – Mechanicsburg, Pa.-based Select Medical Corp. (NYSE: SEM) recently announced that it will reconfigure space and open a long-term acute care hospital (LTACH) inside Missouri Baptist Medical Center in St. Louis.
Post-Acute & Senior Living: ESI arranges sale of Wisconsin community based residential facility near Milwaukee
GREENDALE, Wis. – In more news from Wisconsin, Evans Senior Investments (ESI) recently announced that it represented an independent seller in the sale of Clifden Court, a 92-unit community based residential facility (CBRF) in Greendale.
Post-Acute & Senior Living: Brea, Calif., approves plans for two-story, 29,500 sq. ft. Silverado memory care community
BREA, Calif. – The Brea Planning Commission recently voted 5-0 to approve a conditional use permit clearing the way for Irvine, Calif. based Silverado Residential Care to develop a two-story, 39-unit, 29,448 square foot residential memory care facility.