Outpatient Projects: Irgens, Cigna plan 60,000 s.f. MOB, urgent care and seniors facility in Peoria, Ariz.
PEORIA, Ariz. – Milwaukee-based Irgens, which has offices in Chicago and Phoenix, recently announced plans to develop a 60,000 square foot MOB on a 8.7-acre site at the corner of 91st Avenue and Thunderbird Road in Peoria, about 14 miles northwest of Phoenix.
Outpatient Projects: Sacramento suburb okays plan for new Dignity Health MOB on civic center site
CITRUS HEIGHTS, Calif. – The Citrus Heights City Council recently approved, on a unanimous vote, the relocation of the town’s Civic Center and City Hall in order to clear the way for San Francisco-based Dignity Health’s future three-story, 68,727 square foot, $53.2 million MOB on the site.
Outpatient Projects: Columbia Development proposes to 60,000 s.f. MOB in growing New York town
CLIFTON PARK, N.Y. – Albany, N.Y.-based Columbia Development Group is looking to capitalize on a growing need for medical services in a growing city about 17 miles north of its headquarters. The company recently presented a proposal to the Park Planning Board in the city of Clifton Park for a single-tenant, pre-leased $15 million, 60,000 […]
Inpatient Projects: Boston Med Center to break ground
Renovated campus, now estimated at $300 million, will include more upgrades By Connie M. McCaffrey Boston Medical Center will soon break ground on an extensive, $300 million redesign of its campus in the city’s historic South End. The new cost estimate is about $30 million more than originally projected, according to officials, who added that […]
Inpatient Projects: Parkridge Health System plans major expansion at Chattanooga, Tenn., hospital
CHATTANOOGA, Tenn. – Officials at Parkridge Health System recently announced that the organization is planning a $62 million expansion of the five-story, 275-bed hospital in downtown Chattanooga. Jim Coleman, Parkridge Health System’s chief operating officer, noted in a statement that, “This is easily the biggest expansion at our downtown campus in the past 20 years. […]
Inpatient Projects: Banner Health is opening new $86 million hospital in Fort Collins, Colo.
FORT COLLINS, Colo. – Phoenix-based Banner Health, one of the largest healthcare systems in the country, is opening an $86 million, 146,000 square foot, 22-bed hospital in Fort Collins. The growing city has never had two hospitals, as Poudre Valley Hospital has been the town’s only acute-care facility for 90 years.
Inpatient Projects: Stanford Health holds ‘topping out’ for new hospital in Palo Alto, Calif.
PALO ALTO, Calif. – Stanford Health Care recently celebrated a major milestone in the construction of its future $2 billion hospital with a ceremonial “topping out” of the massive structure.
Editor’s Letter: Déjà vu all over again
Lillibridge Health Trust sale brings back memories Dear Reader: You know you have been covering the healthcare real estate (HRE) sector for a long time when you frequently find yourself writing articles about transactions involving the same properties you’ve written about before. Such was the case for us at Healthcare Real Estate Insights™ this month […]
Industry Pulse: Ventas buying hospitals, spinning off new SNF REIT
Ventas Inc. is not only the country’s largest healthcare REIT, it’s also an HRE trend-setter In the past year, Debra Cafaro, CEO of the healthcare real estate investment trust (REIT) Ventas Inc. (NYSE: VTR) has indicated that the firm that has long concentrated on investing mostly in senior housing and medical office buildings (MOBs) would […]
Industry Pulse: DOC REIT continues its acquisitive ways
Physicians Realty Trust is not averse to single-asset deals Most large, publicly traded healthcare REITs prefer to acquire their MOBs in bulk, Buying large portfolios “moves the needle” more for the big REITs, puts their money to work in a more efficient manner, and eliminates some of the duplications involved in acquiring a myriad of […]
Post Acute & Senior Living: JV acquires $849 million portfolio
Brookdale Senior Living teams up with HCP on 35 private pay communities By Daniel H. Larson Brentwood, Tenn.-based Brookdale Senior Living (NYSE: BKD) and HCP Inc. (NYSE: HCP) of Irvine, Calif., recently announced their collaborative acquisition of an $849 million senior housing portfolio from Mississauga, Ontario-based Chartwell Retirement Residencies.
Post-Acute & Senior Living: Granite Investment Group buys $7.2 million facility near Kansas City, Kan.
SHAWNEE, Kan. – Irvine, Calif.-based Granite Investment Group announced its acquisition of Shawnee Heartland Assisted Living, a 48-unit facility located in the Kansas City, Kan., suburb of Shawnee. The sale is a $7.2 million sale-leaseback transaction completed at an all-in cap rate of about 8.4 percent and includes a long-term bond net lease that expires […]
Post-Acute & Senior Living: ISL breaks ground on three-story community in Salt Lake City
SALT LAKE CITY. – Integral Senior Living (ISL) says it is hoping to bring a new senior living experience, set against the Wasatch Mountain Range, that is both excellent in care and aesthetically pleasing to its residents. The Carlsbad, Calif.-based community manager recently broke ground on The Ridge Senior Living, an assisted living and memory […]
REIT Report: ARC Healthcare Trust II plans to list
Official say going public is best strategy to maximize shareholder value By Connie M. McCaffrey New York City-based ARC Healthcare Trust II Inc., a non-traded real estate investment trust (REIT), recently announced that it intends to file an application to list its common stock on a national stock exchange under the symbol “HTI.”
Capital Markets: On-balance sheet fixed-to-float
Loans with these terms help to align the loan to the borrower’s business plan By Erik Tellefson A borrower’s business plan for an individual asset that requires flexibility after a certain period of time, coupled with the borrower’s desire to manage their interest rate risk, is a relatively common occurrence with medical office building (MOB) […]