Companies & People: Meridian lands major tenant to fill remaining space at its MOB in Rohnert Park, Calif.
ROHNERT PARK, Calif. – When Meridian Property Co. acquired a 69,000 square foot MOB in Rohnert Park, Calif., earlier this year, the company referred to the transaction as a “value-add” opportunity.
Companies & People: New HRE advisory firm going strong
Investment banking firm Brown Gibbons Lang & Co. starts real estate group By John B. Mugford Add a new name to the list of firms serving the healthcare real estate (HRE) sector, as Cleveland-based Brown Gibbons Lang & Co. (BGL), a middle-market investment bank, recently launched a new real estate group that includes a healthcare […]
News Release: Cleveland Clinic and Akron General Sign Letter of Intent
Agreement Would Make Cleveland Clinic a Minority Owner of Akron General Monday, June 9, 2014, Akron, Ohio: Cleveland Clinic and Akron General Health System have signed a Letter of Intent (LOI) to enter into an arrangement in which Cleveland Clinic will invest in and become a minority owner of Akron General Health System, making Akron […]
News Release: HFF arranges construction financing for development of Victory Medical Center in Fort Worth, Texas
DALLAS, TX – HFF announced today that it has arranged construction financing for the development of Victory Medical Center, a 104,971-square-foot, surgical hospital in Fort Worth, Texas. HFF worked on behalf of the borrower, a joint venture between Harrison Street Real Estate Capital, LLC, Pisula Development Company, Victory Healthcare and a physician-ownership group, to secure […]
News Release: Alternivest Healthcare Purchases 30 Acres in New Braunfels for Mixed-Use Medical Development
SAN ANTONIO (June 4, 2014) – CBRE represents San Antonio-based Alternivest Healthcare in the purchase of approximately 30 acres in New Braunfels, Texas. The site will be master-developed as an age-in-place destination, with plans to include a medical office building, skilled nursing facility, and assisted living/memory care. The medical office building will be known as […]
News Release: $22,650,000 Disposition of a Four-Building, 111,175 Square Foot Medical Office Portfolio Located in Southwest Florida
Transaction Overview Healthcare Real Estate Capital (“HRE Capital”), as exclusive financial advisor to AW Property Co. (“AW”), is pleased to announce the disposition of a four-building, 111,175 square foot medical office building portfolio (“Portfolio”). Located in Southwest Florida, the 98 percent occupied Portfolio included multi-tenant and master leased medical office buildings and an ambulatory surgery […]
News Release: CHP Acquisition – Houston Orthopedic & Spine Hospital Campus
CNL Healthcare Properties, Inc. is pleased to announce their acquisition of the Houston Orthopedic & Spine Hospital Campus located in Houston, Texas for $76,000,000. The HOSH campus consists of a 126,946 square foot specialty hospital and a 99,768 square foot medical office building. Lincoln Harris will provide leasing and management services for the campus. GE […]
Breaking News: Ventas to buy ARC for $2.6 billion
Largest healthcare REIT to become even larger Healthcare Real Estate Insights™ has learned that Chicago-based Ventas Inc. (NYSE: VTR) has agreed to acquire American Realty Capital Healthcare Trust Inc. (Nasdaq: HCT) in a stock and cash transaction valued at $2.6 billion, or $11.33 per ARC Healthcare share. The blockbuster deal makes Ventas, the largest healthcare real estate […]
News Release: Flagship Healthcare Real Estate Fund Partners with Drake Real Estate Partners to Acquire Freestanding Emergency Department & Medical Office Building in Fredericksburg, VA
May 29, 2014 Fredericksburg, VA – Flagship Healthcare Real Estate Fund and Drake Real Estate Partners have acquired The Professional Plaza at Lee’s Hill, a 71,000 square foot freestanding emergency department and medical office building located at 10401 Spotsylvania Avenue in Fredericksburg, Virginia. This modern facility is the seventh acquisition for the Flagship Healthcare Real […]
News Release: Caddis Partners names Jason Hinkel as Regional Director of Development
Based in Atlanta, the 25-year industry veteran is responsible for growing development activity in the Southeast Region for the Dallas-based healthcare real estate firm ATLANTA and DALLAS, May 28, 2014 – Leading national healthcare real estate firm Caddis Partners LLC has named industry veteran Jason Hinkel as Regional Director of Development. Mr. Hinkel’s role will […]
Cover Story: Should systems monetize hospitals?
Selling MOBs is common, BOMA panel notes, but what about inpatient buildings? By John B. Mugford In healthcare real estate (HRE), there’s an untapped gold mine of properties awaiting investors who can figure out how to obtain them: acute care hospitals. Therein lies the difficulty, however, as the holders of more than 85 percent of […]
Transactions: DOC REIT acquires two LTACH facilities from major operator LifeCare
MILWAUKEE – Milwaukee-based Physicians Realty Trust (Nasdaq: DOC) recently acquired the real estate of two LifeCare Hospitals in the Pittsburgh and Fort Worth, Texas, areas. The healthcare-focused REIT, which previously acquired a LifeCare facility in Plano, Texas, paid $40 million for the two long-term acute care hospitals (LTACHs). Upon selling the LTACHs, Plano-based LifeCare Family […]
Feature Story: Focus on healthcare, not reform
Some providers say they’d be changing their real estate strategies anyway By Murray W. Wolf Most articles about the Patient Protection and Affordable Care Act (PPACA), aka healthcare reform, focus on how the four-year-old law is “forcing” hospitals and health systems to change their ways – with a stated goal of delivering higher-quality, more collaborative […]
Transactions: Montecito, Oak Street joint venture acquires buildings in Maine
AUGUSTA, Maine – A joint venture (JV) of Nashville, Tenn.-based Montecito Medical and Chicago-based Oak Street Real Estate Capital LLC recently acquired two MOBs in Augusta that house doctors with MaineGeneral Health System. While Montecito did not disclose the price the JV paid for the facilities, reports indicate that it acquired one of the buildings, […]
Transactions: CNL making move into inpatient rehabilitation by purchasing five facilities
ORLANDO, Fla. – CNL Healthcare Properties’ first endeavor into owning inpatient rehabilitation facilities (IRFs) is certainly going to be a significant one. On May 13, the non-traded real estate investment trust (REIT) entered into purchase agreements to acquire three post-acute care rehabilitation hospitals for a total of $68 million in Oklahoma, Nevada and Indiana. The […]