Transactions: TDA Investment Group buys 51,441 s.f. on-campus MOB in San Diego for $11.4 million
SAN DIEGO – TDA Investment Group of San Mateo, Calif., in recent months acquired an MOB located within a complex of three medical buildings across the street from Alvarado Hospital Medical Center in San Diego. The firm closed on Alvarado Medical Plaza III, a three-story, 51,441 square foot MOB, for about $11.4 million, according to […]
Transactions: More HRE Transactions
MedSouth Healthcare Properties LLC, a relatively new company focused on acquiring healthcare properties in the Southeast, recently purchased an MOB in Myrtle Beach, S.C., in a JV with Sterling Fox Group LLC. Both MedSouth and Sterling Fox Group are based in Charlotte, N.C. The JV acquired Market Commons Medical, a 20,000 square foot, two-story building […]
Outpatient Projects: Adult ED remodel project at New York Presbyterian gets a big donation and a name
NEW YORK – Without a $15 million gift from Morgan Stanley (NYSE: MS), a project to expand and upgrade the adult ED at New York Presbyterian/Columbia University Medical Center would not be taking place, according to health system officials. As a result of the donation, the newly rebuilt ED will be called Morgan Stanley Adult […]
Outpatient Projects: Rendina Cos. completes two MOBs
South Carolina and Virginia projects total $26 million and 92,500 square feet By Murray W. Wolf Jupiter, Fla.-based Rendina Cos. recently completed the development of new medical office buildings (MOBs) in South Carolina and Virginia – projects totaling $26 million and 92,500 square feet. A grand opening was held Jan. 14 for the Bluffton Medical […]
Outpatient Projects: Wisconsin firm to develop, own $48.2 million MOB on campus in Kennewick, Wash.
KENNEWICK, Wash. — A Wisconsin-based developer is in the midst of starting a new $48.2 million MOB on the campus of the future Southridge Hospital in Kennewick, in the southeast part of Washington state. Kennewick-based Trios Health, part of the Kennewick Public Hospital District, is building its new 74-bed hospital on 40 acres in the […]
Inpatient Projects: While waiting for CON, Lee County, Fla. system seeks local approval
BONITA SPRINGS, Fla. – While awaiting a possible approval for a new hospital from an administrative law judge, Fort Myers, Fla.-based Lee Memorial Health System is moving forward with zoning applications for an acute care facility it has planned for Bonita Springs. Last year, the health system, which operates four hospitals in Lee County, had […]
Inpatient Projects: Contested Illinois hospital underway
Despite a pending appeal, Centegra Health moves forward on $233M project By John B. Mugford Even though an appeal from competitors is still pending, a health system in the far northwestern suburbs of Chicago has decided to start preliminary construction on its long-planned $233 million hospital in the growing city of Huntley. Confident that the […]
Industry Pulse: On the Record
What’s new in development in the Greater Phoenix market? “Arizona-based hospitals are continuing to develop sophisticated, on-campus facilities and are also focused on retrofitting and repositioning older spaces to be new, efficient, effective and cutting edge. The outpatient facilities are typically smaller, providing emergency services and ambulatory surgery and other services. The major hospital groups […]
Post-Acute & Senior Living: Swedish firm to invest in U.S. projects
Index International strikes $500M development deal with Watercrest Senior Living By Murray W. Wolf Watercrest Senior Living Group, a Vero Beach, Fla.-based real estate developer and operator, and Index International AB, a Stockholm, Sweden-based investment firm, say they have finalized a $500 million, five-year partnership to co-develop senior living communities across the United States. The […]
Industry Pulse: HRE Professionals: Optimistic About ’14
78% That’s the percentage of HRE professionals who say they expect their business to grow in 2014. At the annual Healthcare Real Estate Insights™ Editorial Advisory Board meeting Denver in late 2013, board members discussed the state of the HRE sector and compared notes on what they consider to be the latest trends and strategies. […]
Publisher’s Letter: New HRE strategies
Real estate is adapting to the changing industry Dear Reader: As I was sifting through some of the folders on my computer desktop recently, I came across my notes from last fall’s Bisnow Healthcare Real Estate Summit in Philadelphia. In doing so, I was reminded of a very intriguing session I had attended, broadly titled […]
Industry Pulse: ‘Hot Pockets’ Inventors Show Appetite for MOBs
Investor with ties to Hot Pockets hungers for core-plus, value-add and opportunistic deals Hot Pockets are not exactly the healthiest packaged food on the market. In fact, comedian Jim Gaffigan practically built his career on a hilarious routine lampooning the fat-filled frozen sandwiches. So it is ironic – or perhaps a clever bit of vertical […]
Transactions: Lucile Packard Children’s Hospital buys off-campus MOBs in Los Gatos, Calif.
LOS GATOS, Calif. – Lucile Packard Children’s Hospital, part of Stanford University Health System, recently purchased a 63,000 square foot, two-building outpatient medical complex in Los Gatos for $24.5 million. The hospital made the acquisition, officials said, because its current six-year-old specialty center in Los Gatos is operating at full capacity.
Industry Pulse: On the Record
Will we see more investment in U.S. acute care hospitals, as we have in Europe? “We’ve been spending a lot of time with our CBRE counterparts in London, who have had a lot of success selling acute care facilities across Europe. While our team has found a great niche in the post-acute care sector in […]
Post-Acute & Senior Living: More Post-Acute & Senior Living News
Interwest Capital Corp., a La Jolla, Calif.-based private equity firm, and Angelo Gordon & Co., a privately-held New York-based investment adviser, recently acquired a Las Vegas senior housing portfolio out of foreclosure in a transaction valued at about $150 million.