Post-Acute & Senior Living: Formation Capital and Safanad Ltd. join to buy $150 million portfolio
ATLANTA – Two big investment firms have yet again joined together to expand their portfolios. Alpharetta, Ga.-based Formation Capital, a healthcare focused private investment firm, and New York-based Safanad Ltd., a principle investment firm, recently announced that they have a formed a partnership to acquire 14 skilled nursing facilities (SNFs) in three states for $150 […]
REIT Report: NorthStar surges into MOB arena
Pending $4B acquisition of G-A REIT II is one of the largest HRE deals in years By Dan Larson Currently, medical office buildings (MOBs) comprise about 0.2 percent of the healthcare portfolio owned by New York-based NorthStar Realty Finance Corp. (NYSE: NRF). By the end of this year, however, that number should multiply significantly, to […]
Post-Acute & Senior Living: More Post Acute and Senior Living News
■ A 118,498 square foot expansion is slated for Salemtowne, a CCRC in Winston-Salem, N.C. The property recently received final approval from the state to begin the $42 million project, which will include a replacement skilled nursing facility. The current skilled nursing center will be converted to assisted living. Construction is to begin in 2015 […]
Companies & People: Velocis to raise $300M for next fund
Private equity firm hopes to target larger medical and retail assets and portfolios By Dan Larson In March of 2013, Velocis Fund LP completed its final closing on its first fund, aptly titled Velocis Fund I. Since that time, the Dallas-based private equity real estate fund has been working hard on Velocis Fund II, which […]
Companies & People: Optimal Outcomes to develop MOB
Firm plans mid-2015 opening for 38,000 square foot facility in Tampa, Fla., area By Dan Larson Optimal Outcomes LLC of St. Petersburg is expanding its brand to Brandon, Fla. The city is situated just 12 miles east of Tampa and is one of Florida’s fastest growing communities. The real estate developer plans to break ground […]
Companies & People: Ensemble becomes real estate advisor to Phoenix Children’s Hospital
PHOENIX – After years of partnering on various projects, Phoenix Children’s Hospital and Ensemble Real Estate Solutions have agreed on a long-term union, making Ensemble the hospital’s exclusive real estate advisor. The Phoenix-based healthcare real estate (HRE) firm will oversee 12 leases in nine locations with 116,000 total square feet.
Companies & People: Lincoln Harris providing leasing at two MOBs; negotiates lease at another
DALLAS – Charlotte, N.C.-based Lincoln Harris CSG is in the midst of providing leasing services for two separate healthcare developments – one a remodeling project – underway in the Dallas area.
Companies & People: HCP teams with Transwestern to lease Houston MOB
HOUSTON – HCP Inc. (NYSE: HCP) in recent months broke ground on a 100,000 square foot Class A MOB on the campus of Memorial Hermann Pearland Medical Center in Pearland, Texas, outside of Houston. To lease up the new building, HCP has tapped national real estate firm Transwestern.
Companies & People: More Companies & People News
■ Brasfield & Gorrie recently completed the $16 million Healthplex Performance Center in Madison, Miss. The Birmingham, Ala.-based firm was the general contractor for the two-story, 100,000 square foot sports complex and MOB, which includes a training floor with strength and cardio equipment, indoor walking track, indoor pool, therapy pools, indoor field house and athletic […]
Cover Story: Development on the mend
Rising demand for outpatient space is fueling the rebound By John B. Mugford As Philip J. “PJ” Camp puts it, healthcare development “fell off a cliff” back in 2009. That cliff, as it’s turned out, has been quite difficult to re-climb, as the number of annual healthcare real estate (HRE) projects has remained relatively flat […]
Transactions: New hospital owner acquires MOB across the street in Downey, Calif.
DOWNEY, Calif. – On the heels of acquiring the former Downey Regional Medical Center, PIH Health recently purchased an MOB across the street from what is now known as PIH Health Hospital–Downey. The not-for-profit health system, which was founded in 1959 and is based in Whittier, Calif., paid $11.3 million for the 56,121 square foot […]
Transactions: ARC Healthcare Trust II continues to make buys, nears closing of offering
NEW YORK – Like its predecessor with a very similar name, ARC Healthcare Trust II Inc. is off to a fast start in the healthcare real estate (HRE) sector. So fast, in fact, that the non-traded real estate investment trust (REIT) is already nearing the possible closing of its public stock offering, which began in […]
Transactions: DOC REIT keeps on making buys
Recent acquisitions push Physicians Realty Trust’s portfolio above $500 million By John B. Mugford At the time of its initial public offering a year ago this month, Milwaukee-based Physicians Realty Trust (NYSE: DOC) owned a portfolio of medical properties with a total purchase-price value of about $124 million.
Outpatient Projects: Downtown hospital bolsters campus
Landmark developing MOB for Truman Medical Centers in Kansas City, Mo. By John B. Mugford Not all new medical office buildings (MOBs) are being built in suburban retail areas away from a health system’s main hospital campus. Truman Medical Centers (TMC) in Kansas City, Mo., in fact, has decided to add a $29 million outpatient […]
Outpatient Projects: NexCore to develop, own N.D. MOB
Firm is developing 67,000 square foot facility for St. Alexius Medical Center By John B. Mugford As towns in northwestern North Dakota continue to grow amid the oil boom, healthcare providers are feeling the need to expand their offerings to keep up with demand. One such place is Minot, N.D., a city that saw only […]