Transactions: Sanders Trust finds smaller, single assets to build its portfolio
BIRMINGHAM, Ala. – The Sanders Trust (TST), a well-known HRE investment firm that has done a number of large deals, recently demonstrated that it is also willing to make smaller acquisitions to build its portfolio of healthcare facilities. In recent weeks, TST spent a total of about $23.5 million in four transactions for five facilities. […]
Transactions: More HRE Transactions
■ A group of tenants in common (TIC) recently sold a two-story, 21,398 square foot MOB at 1800 116th Ave. in Bellevue, Wash., for
Hot Property: Stabilized, multi-tenant MOB offered
Fully leased Merrionette Park Medical Center is in the southwest Chicago suburbs Name: Merrionette Park Medical Center Number of buildings: 1 Floors: 1 Lot size: N/A Address: 11600 S. Kedzie Ave. City: Merrionette Park, Ill. Square footage: 57,305 Year built/renovated: 1995/2004 Leased: 100% Broker: John Smelter Brokerage: Marcus & Millichap Experts are calling this the […]
Capital Markets: ‘Lease-up’ MOBs have loan options
Financing can be structured to fund tenant improvements, leasing commissions By Erik Tellefson There are various financing opportunities depending on the stage of a medical office building (MOB), whether during construction/renovation, “lease-up” or stabilized. For example, MOBs with in-place tenancy of 65 to 80 percent, and a lease-up component for the remainder of the space […]
Outpatient Projects: Anchor developing 75,000 s.f. MOB
Project is underway for St. Elizabeth Healthcare in suburbs of Cincinnati By John B. Mugford Experienced healthcare real estate (HRE) professionals are saying that many of the outpatient facilities to be built in years to come will have more than 50,000 square feet and be home to fewer tenants and more specialty services. That describes […]
Outpatient Projects: Rendina readies for Texas project
Development firm will own 40,000 square foot, on-campus MOB in Paris, Texas By John B. Mugford Most health systems send out requests for proposals (RFPs) for nearly each and every project they propose these days, even when they are happy with the work performed by a certain firm on a previous development. Even so, most […]
Outpatient Projects: U of South Alabama starts $27.3 million MOB on its children’s/women’s campus
MOBILE, Ala. – Construction started in January on a $27.3 million MOB on the campus of the University of South Alabama Children’s and Women’s Hospital in Mobile, a city of about 200,000 people on the Gulf Coast.
Outpatient Projects: More Outpatient Healthcare Real Estate Project News
■ Saint Francis Medical Partners, a network of physicians and practices in and around Memphis, Tenn., recently broke ground for
Inpatient Projects: $339M pavilion started in Bay Area
Washington Hospital in Freemont, Calif., adding three-story, 223,000 s.f. facility By Connie M. McCaffrey With 150 beds, a sparkling new hospital opened in the small Bay Area community of Freemont, Calif., in 1958 to serve a local population of about 18,000 people. Nearly a half century later, the 341-bed Washington Hospital serves an area just […]
Inpatient Projects: $75 million replacement facility to replace hospital in Great Smoky Mountains
CHEROKEE, N.C. – Work has been underway for nearly a year now on a replacement for Cherokee Indian Hospital in Cherokee, a city in the Great Smoky Mountains about 50 miles west of Asheville.
Inpatient Projects: $71 million expansion underway at hospital in Carrollwood, Fla.
CARROLLWOOD, Fla. – A $71 million expansion totaling 116,866 square feet has just begun at the 120-bed Florida Hospital Carrollwood, about 11 miles northwest of Tampa. Hospital officials said the expansion will include
Inpatient Projects: Andrews Hospital completes first phase of construction
ANDREWS, Texas – Community leaders and officials at Permian Regional Medical Center in Andrews recently held a ribbon cutting ceremony to celebrate the completion of the first phase of construction on a new, replacement hospital. Phase one entails a new health and wellness center and a doctors’ clinic. Andrews, home to about 13,000 residents, is […]
Inpatient Projects: Wesley Medical Center in Wichita, Kan., to build $28M children’s hospital
WICHITA, Kan. – Officials at Wesley Medical Center in Wichita recently announced a renovation project for the hospital’s inpatient pediatric areas with the building of a new $28 million children’s hospital on its main campus. The project will include
Inpatient Projects: St. Elizabeth’s Hospital petitions state board to move to O’Fallon, Ill.
BELLEVILLE, Ill. – Officials at St. Elizabeth’s Hospital are again asking the Illinois Health Facilities and Services Review Board for permission to close its 303-bed hospital in Belleville in order to open a replacement hospital about eight miles away in O’Fallon, Ill. The cost of the project would be $300 million, which would include building […]
Inpatient Projects: Work begins on new $35M Boone Memorial Hospital in West Virginia
MADISON, W. Va. — After a 12-year effort, construction started in recent months on a new $35 million replacement for Boone Memorial Hospital in Madison, W. Va., a town of about 3,000 people 30 or so miles south of Charleston, W. Va. The new hospital will replace the current 25-bed Boone Memorial Hospital, a Critical […]