Post-Acute & Senior Living: Alaska fund makes foray into HRE
State fund, with CS Capital, pays $114.5M for two Boston-area rehab facilities By John B. Mugford In a transaction that represents an emerging and important sector of healthcare real estate (HRE), the Alaska Permanent Fund Corp., represented by CS Capital Management Inc., recently acquired two Boston-area rehabilitation hospitals for $114.5 million, which works out to […]
Inpatient Projects: Maryland replacement gains CON
State approves Washington Adventist’s plans for a new hospital outside of D.C. By John B. Mugford Washington Adventist Hospital officials are describing the process of gaining a Certificate of Need (CON) from the state of Maryland to build a new replacement hospital in Greater Washington as “long and laborious.”
Editor’s Letter: Tenants settling in?
From what we hear, longer leases are on the rise Dear Reader: Even though healthcare real estate (HRE) became one of the hottest, most in-demand property types in recent years, one lingering problem, or sticking point, made owning medical office buildings (MOBs) perhaps a bit more worrisome than many investors would have liked.
Post-Acute & Senior Living: Cincinnati company plans $52 million expansion at its senior living community
MONTGOMERY, Ohio – Cincinnati-area senior living provider Life Enriching Communities (LEC) announced a $52 million expansion at its Twin Lakes Senior Living Community in Montgomery, just outside of Cincinnati, that will add more independent living residents, as well as “much needed” memory care services.
REIT Report: CNL buys Vegas-area MOB complex
$54.8 million acquisition in Henderson, Nev., is REIT’s largest in some time By John B. Mugford Orlando, Fla.-based CNL Healthcare Properties recently found a medical property it liked near Las Vegas, and it went ahead and paid $54.8 million for the three-building, 139,222 square foot Siena Heights Medical Pavilion in Henderson, Nev.
Industry Pulse: Regional Health Systems Form JV for MOB Project
In an interesting twist on collaboration, two Michigan providers plan to team up for MOB A new joint venture (JV) medical office building (MOB) is being planned by two Michigan systems. Grand Rapids-based Spectrum Health and Holland-based Holland Hospital formed a JV called Health Pointe in June 2015.
Industry Pulse: On the Record – Michael Bennett
What do you think is ahead for healthcare real estate in 2016? “Unlike some involved in the sector, I think we will see an increase in the number of monetizations, or sales of medical office buildings by hospitals and health systems, in the coming year. If I were to put a number on it, I’d […]
Companies & People: 5 Questions for: Peter J. Applefield
The former AW Property Co. exec forms a new firm focused on the Southeast It was the mid-2000s when a South Florida-based commercial real estate firm starting making some inroads into the healthcare real estate (HRE) sector, completing a few smaller, one-off medical office building (MOB) purchases in its home state.
Companies & People: Well-known HRE executive Daniel M. Klein lands new position with HTA Inc.
SCOTTSDALE, Ariz. – One of the healthcare real estate (HRE) sector’s best-known executives recently changed companies.
Transactions: MOB sales remain on record pace
Relentlessly red-hot investment market accelerated to another record during Q3 By John B. Mugford With just one quarter left in 2015, the total dollar volume of medical office building (MOB) sales for the year was approaching, and was certainly on a course to surpass, the record-setting total of a 2014. That 2015 is turning out […]
Transactions: Seavest lands MOB on Trinity campus
Private equity firm acquires Grandview Physicians Plaza in Birmingham, Ala. By John B. Mugford For more than a decade, a nearly completed but never opened 12-story hospital loomed over a busy stretch of U.S. Highway 280 about eight miles south of downtown Birmingham, Ala. The Digital Hospital was to be the flagship hospital for HealthSouth […]
Transactions: Meridian divests revamped MOB
Firm sells office building in Rohnert Park, Calif., that it acquired and repurposed By John B. Mugford It looks as if the value-add purchase that San Ramon, Calif.-based Meridian made in March 2014 has paid off – after the company used plenty of foresight and made upgrades to the facility. The firm, a subsidiary of […]
Transactions: Health system acquires Building that it occupies in Chula Vista, Calif.
CHULA VISTA, Calif. – San Diego-based Sharp Healthcare recently paid $22.5 million to acquire a three-story, 67,000 square foot MOB at 1400 East Palomar St. in Chula Vista, according to data from real estate researcher Real Capital Analytics (RCA) Inc.
Transactions: Welltower acquires MOB in Baltimore suburbs for $35.5 million, $541 PSF
COLUMBIA, Md. – Toledo, Ohio-based Welltower (NYSE: HCN), formerly known as Health Care REIT, recently acquired an MOB in the tight Baltimore suburban market for $541 per square foot (PSF).