Industry Pulse: Some Markets Continue to See Needs for New Beds
Acute care hospital construction is booming in Las Vegas and parts of southern Nevada Reports about dwindling demand for hospital beds nationwide is most likely an accurate prediction, but some parts of the country continue to see a need for new beds.
Industry Pulse: On the Record – Barry Weinbaum
Will there be many multi-tenant MOBs developed in the years to come? “I think the multi-tenant building is pretty much a dinosaur… We did a building two years ago for a Tenet hospital in Los Alamitos, which is probably going to be our last multi-tenant building… I think it will be replaced by hybrid buildings […]
Industry Pulse: Real Estate Boosts Steward Rebound
Real estate, technology and an ACO help system save big When Cerebus Capital Management formed Steward Health Care in 2010 to acquire six hospitals that were part of Caritas Christi Health Care, four of the facilities were suffering significant losses. Although Boston-based Steward faced financial difficulties, it has invested more than $850 million into facilities, […]
Companies & People: H2C advises Ciminelli on portfolio
Firm teams with MBRE in acquiring MOBs and cancer centers in Greater Buffalo By John B. Mugford Buffalo, N.Y.-based Ciminelli Real Estate Corp. recently acted upon an opportunity to acquire four medical office buildings (MOBs) with cancer centers throughout its hometown’s metropolitan area. The company, well-known in the pages of Healthcare Real Estate Insights™ for […]
Companies & People: HRE Capital represents sellers, developer in a number of transactions
NEW YORK – It’s been a busy second half of the year for New York-based Healthcare Real Estate Capital (HRE Capital), as it acted as the advisor in a number of deals that included sales of medical office buildings (MOBs) and the securing of financing for a senior housing community.
Transactions: Ventas pays $97 million for Indy pair Healthcare Realty Trust sells OrthoIndy specialty hospital and an attached MOB
Healthcare Realty Trust sells OrthoIndy specialty hospital and an attached MOB By John B. Mugford Amid the flurry of medical office building (MOB) sales activity in 2015, one rather large and significant transaction took place in recent months that kind of slipped under the radar. The offering obviously had enough upside to attract the attention […]
Outpatient Projects: NexCore Group starts ski-town MOB Future three-story, 50,000 square foot facility in Avon, Colo., to include 24/7 ED
Future three-story, 50,000 square foot facility in Avon, Colo., to include 24/7 ED By Connie M. McCaffrey Residents and visitors in the well-known Vail Valley will soon have more healthcare options, thanks to a project being developed by Denver based NexCore Group LP. The national healthcare development firm recently broke ground on the future
Inpatient Projects: Banner moves forward in Tucson Health system plans $400 million, 240-bed patient tower at U. of Arizona hospital
Health system plans $400 million, 240-bed patient tower at U. of Arizona hospital By John B. Mugford As Phoenix-based Banner Health was in the process of making its $1 billion acquisition of the University of Arizona (UA) Health Network, the system noted that it was planning to rebuild the academic medical center’s main hospital in […]
Post-Acute & Senior Living: Senior housing occupancy declines
NIC blames slight second quarter dip on inventory growing faster than demand By Erin E. Porter The National Investment Center for Seniors Housing & Care (NIC) reported last month that seniors housing occupancy slipped again in the second quarter (Q2) of 2015. The average occupancy rate was
Companies & People: Rendina opens new MOB in Arizona Developer-owned facility is on the campus of a hospital in southern part of state
Developer-owned facility is on the campus of a hospital in southern part of state By John B. Mugford Jupiter, Fla.-based Rendina Healthcare Real Estate recently opened a 54,000 square foot MOB on the campus of the new Canyon Vista Medical Center in Sierra Vista, Ariz., in the high desert of southeastern Arizona. Hospital and Rendina […]
Transactions: HTA adds to its Boston bio portfolio
REIT acquires 161,000 s.f. research facility on Boston Medical Center campus By John B. Mugford A lot of good things are happening in Boston’s historic South End, a once downtrodden area that one well-known healthcare real estate professional says is now “exploding” with trendy new shops, restaurants and high-end residences. Helping provide momentum for the […]
Transactions: Carter Validus takes five (MOBs)
Unlisted REIT acquires portfolio of assets in four states for more than $79 million By John B. Mugford With the medical office building (MOB) sales market showing no signs of slowing down in the near future, Carter Validus Mission Critical REIT (CVMC REIT) jumped on the chance to acquire a fully leased, five-building portfolio in […]
Outpatient Projects: Duke Realty, Plaza plan Phoenix MOB
Development firms could build up to 125,000 s.f. on Banner Estrella campus By Erin E. Porter and John B. Mugford For Peoria, Ariz.-based Plaza Companies, a new medical office building (MOB) planned for the campus of Banner Estrella Medical Center in Phoenix would add to its 10 million square foot portfolio of owned and managed space. […]
Inpatient Projects: Upstate N.Y. hospital unveils big plan
Vassar Brothers Medical Center in Poughkeepsie to expand with $466M pavilion By Erin E. Porter With a design that’s meant to capture the look and feel of the adjacent Hudson River, a new patient pavilion being planned for Vassar Brothers Medical Center is expected to be a landmark and a point of pride for the […]
Companies & People: ‘I feel like we’re just getting started’
Five years after the Ventas deal, Todd Lillibridge says there’s still plenty to do By Murray W. Wolf Five years ago, when Ventas Inc. (NYSE: VTR) acquired Lillibridge Healthcare Services Inc. and its portfolio of 95 medical office buildings (MOBs), some wondered how long top Lillibridge executives – particularly the firm’s president and CEO, Todd […]