Industry Pulse: High-Value Houston MOB Recently Recapitalized
Alaska Permanent Fund Corp. and CS Capital Investment are the new investors in the MOB. Recapitalizations typically don’t garner headlines on a par with sale transactions. But when the recapitalized asset is undoubtedly one of the nation’s most valuable medical properties, that is worth some ink.
Editor’s Letter: Strong ties to BOMA
If you’re at the MOB conference, stop in to see us Dear Reader, In case you haven’t noticed or don’t receive the BOMA Magazine, which is published every other month by the Building Owners and Managers Association (BOMA) International, Healthcare Real Estate Insights™ has been contributing a column in each issue for the past couple […]
Post-Acute & Senior Living: ‘It’s a time of profound change’
2016 NIC Spring Investment Forum spotlights shifting healthcare model By Murray W. Wolf The predominant theme was “change” as more than 1,500 post-acute and senior living professionals gathered March 9-11 in Dallas for the 2016 NIC Spring Investment Forum, presented by the National Investment Center for Seniors Housing & Care (NIC).
Companies & People: 5 Questions for Mark Toothacre
The Pacific Medical Buildings president talks about adapting in the new era By John B. Mugford Long before medical office buildings (MOBs) became a “cool” or trendy investment, there was Pacific Medical Buildings, a West Coast-based developer, owner and manager of outpatient healthcare facilities.
Companies & People: James Schmid joins Anchor Health Properties
Effective April 4, 2016, veteran healthcare real estate executives James A. Schmid III has joined Anchor Health Properties as chief investment officer and a principal. He is based in Philadelphia, in the area where he and his family are originally from. Mr. Schmid joins Anchor after about six years with CNL Financial Group in Orlando, Fla., during which time […]
Cover Story: Who’s selling MOBs?
The answer might surprise you By Murray W. Wolf One record after another has fallen during the past few years as medical office building (MOB) sales volume moved steadily along a upward curve. Today, although MOBs seem to be as popular an investment as ever, some of the most prodigious buyers are becoming net sellers.
Feature Story: What is the ‘state of the industry?’
InterFace West panel covered the ‘obligatory’ topics, but added some new twists By Murray W. Wolf It seems like every healthcare real estate (HRE) conference includes a “state of the industry” panel discussion. And, with as fast as things are changing in the HRE sector, that seems perfectly appropriate.
Transactions: Farley White affiliate acquires two-building MOB complex in Naples, Fla., for $15.8 million
NAPLES, Fla. – An affiliate of Farley White Interests, a Boston-area owner of commercial real estate, closed in February on the acquisition of a two-building MOB complex in Naples for about $15.8 million, or about $207 PSF.
Transactions: New private equity fund Prime Property Investors I launches and makes first acquisitions
NORTHBROOK, Ill. – Prime Property Investors Ltd. has launched Prime Healthcare Investors (PHI), a group of private equity funds created to acquire triple net-leased healthcare real estate (HRE) nationwide.
Transactions: HTA buys six assets for nearly $162M
Public REIT acquires medical and office buildings in three separate transactions By Murray W. Wolf Healthcare Trust of America Inc. (NYSE: HTA) acquired six medical and office buildings in three separate transaction totaling nearly $162 million and 726,525 square feet during the first quarter (Q1) of 2016.
Hot Property: Portfolio for sale in TMC ‘profit zone’
Planned Baylor St. Luke’s Medical Center relocation creates new opportunities Name: Texas Medical Center portfolio City: Houston Number of buildings: 2 Total leasable square feet: 673,395 Occupancy (total): 89.9% Numbers of floors: 27 and 15 Years built: 1991 and 2003 Lot size: 6 acres In-place NOI: about $6.6 million Broker: CBRE Brokers: Chris Bodnar, Lee […]
Transactions: Meridian acquires MOBs for $37.5M
Two-building Pasadena, Calif., complex is the firm’s biggest purchase so far By Murray W. Wolf Meridian Property Co. recently closed on the $37.5 million acquisition of the 115,000 square foot Cotton Medical Center complex in Pasadena, Calif. It was the San Ramon, Calif.-based healthcare real estate developer-owner’s largest acquisition to date and its eighth medical […]
Transactions: Universal Health Realty Income Trust acquires Alabama MOB for about $10.1 million
MADISON, Ala. – Universal Health Realty Income Trust (NYSE: UHT) of King of Prussia, Pa., closed in March on the acquisition of the three-story, 30,096 square foot Madison MOB for about $10.1 million, or about $336 per square foot.
Transactions: Greenlaw Partners and UBS acquire California MOB from Ventas for $34.5 million
LAGUNA HILLS, Calif. – A joint venture (JV) of Greenlaw Partners and a fund advised by UBS Realty Investors LLC recently acquired Saddleback Valley Medical Center in Laguna Hills for $34.5 million, or $256 per square foot (PSF).
Transactions: MedProperties Holdings acquires Illinois surgery center for $17.1 million
MOKENA, Ill. – Dallas-based MedProperties Holdings LLC closed Feb. 29 on the acquisition of a Chicago-area ambulatory surgery center (ASC), the Center for Minimally Invasive Surgery (CMIS) in Mokena.