Industry Pulse: Hospitals’ Post-Acute Push: Strategy or Fad?
Some healthcare real estate (HRE) firms are following hospitals into the post-acute space. Getting involved in post-acute care has become an increasingly popular strategy for many hospitals and health systems recently. This has largely been driven by the Patient Protection and Affordable Care Act (PPACA). A goal of the PPACA, aka healthcare reform, is to […]
Industry Pulse: NKGF Shares List of Sector’s Top Trends
What were last year’s top 10 trends in healthcare and HRE? Here’s one firm’s view. Commercial real estate firm Newmark Knight Grubb & Frank’s Global Healthcare Services Team recently published a list of its top 10 healthcare trends of 2013: 1. Significant M&A activity between hospitals and providers 2. “Deconstruction of the hospital” to off-campus […]
REIT Report: Healthcare REITs off to a good start
HREI Index increased 7.6% in January, but all shares are still below their highs By Murray W. Wolf The new year got off to a great start for the healthcare real estate investment trusts (REITs) that comprise the Healthcare Real Estate Insights™ REIT Index. Share prices increased 7.6 percent in January, on a weighted average […]
Companies & People: Cain Brothers advised joint venture as it plans new hospital in Houston
HOUSTON – Baylor College of Medicine (BCM) and CHI St. Luke’s Health System, an affiliate of Denver-based Catholic Health Initiatives (CHI), recently formed a joint venture to construct, own and operate a new hospital in the massive Texas Medical Center in Houston. The new hospital campus will be built in phases and eventually replace Baylor […]
Companies & People: Hammes leads major Kaiser project
Firm serves as project manager for 275,000 square foot multi-specialty center By John B. Mugford For Kaiser Permanente Colorado, a new multi-specialty center in the Denver suburb of Lone Tree enables the insurance provider and health system to continue to expand its offerings in the growing market. The facility certainly has plenty to offer, as […]
Companies & People: H2C’s work on Highmark, West Penn health system deal was nominated in 2013
NEW YORK – When one of the country’s largest insurers, Pittsburgh-based Highmark Inc., finally completed the acquisition of the West Penn Allegheny Health System (WPAHS) in its hometown in April 2013, the transaction was considered quite a breakthrough as the country moves toward possibly seeing more affiliations between insurance firms and hospital operators. By the […]
Companies & People: Carter Validus has best year yet
The unlisted REIT turned a profit in 2013 and acquired $593.2M in real estate By John B. Mugford Since its establishment in 2009, Tampa-based Carter Validus Mission Critical REIT Inc. posted its best year in 2013. The unlisted real estate investment trust (REIT) also turned its first profit, reporting consolidated net income of $14.7 million, […]
Capital Markets: Volatility proves to be, well, volatile
Domestic markets, economy continue to react to global market troubles, issues The most recent month was marked by increased market volatility. From all-time-highs reached in mid-January, the S&P dropped 6.1 percent to 1,738 by Feb. 5. This was followed by a 7.5 percent rise to 1,868 by the end of the month. The VIX (a […]
Companies & People: More Healthcare Real Estate Company & People News
Equity Inc. recently completed the development of a new 36,000 square foot MOB near St. Joseph’s Hospital in Tampa, Fla. The hospital is part of Tampa-based BayCare Health System. According to officials of Columbus, Ohio-based Equity, when the building opens for business it will be the first new MOB in the area in 30 years. […]
News Release: Healthcare Real Estate Capital announces $123.8 million porfolio sale
Transaction Overview Healthcare Real Estate Capital (“HRE Capital”), as advisor to the transaction, is pleased to announce the disposition of a seven building, 364,560 square foot medical office building portfolio (“Portfolio”) located throughout Florida and Indiana. The 98% leased Portfolio has a weighted average age of less than eight years and included tenancy by national […]
News Release: Caddis Partners deals exceed $100 million
The purchase of the RiverGate MOB and surgical hospital complex in Durango, Colo., capped a record year of new developments and acquisitions for the firm DALLAS, Jan. 29, 2014 – Leading national healthcare real estate firm Caddis Partners LLC recently closed on the acquisition of the 69,053 square foot RiverGate Medical Center in Durango, Colo. The […]
News Release: Carter Validus Mission Critical REIT, Inc. Completes 2013 with nearly $1 billion in investment assets
(Tampa, FL) Carter Validus Mission Critical REIT, Inc. (“CVMC REIT”) announced that it acquired $593.2M in mission critical real estate assets in 2013, including $174.5M in the month of December, bringing the total investment amount in its portfolio to $988.1M, consisting of 3.1M rentable square feet across 17 states. The December acquisitions include: AT&T California […]
News Release: CNL Healthcare Properties acquires medical office buildings in California and Florida
Company purchases four healthcare facilities for $60 million — (ORLANDO, Fla.) Jan. 27, 2014 — CNL Healthcare Properties, a real estate investment trust (REIT) focused on senior housing and healthcare facilities, has purchased two medical office buildings in Coral Springs, Fla., and two medical office buildings in Chula Vista, Calif., for a combined $60 million. […]
Transactions: HTA landed big portfolio late in 2013
Publicly traded REIT purchased $123.8M portfolio of MOBs in Florida, Indiana By John B. Mugford As 2013 came to a close, there was a reported lack of medical office building (MOB) portfolios on the sales block. However, according to officials with Scottsdale, Ariz.-based Healthcare Trust of America Inc. (NYSE: HTA), the real estate investment trust […]
Hot Property: Rare, large portfolio hits the market
JLL is marketing Harrison Street offering of five hospitals and seven MOBs Name: 2014 Harrison Street Multi-State Healthcare Portfolio Locations: Texas, Florida, South Carolina, Oklahoma, Nevada and Indiana Number of buildings: 12 Types of facilities: 5 hospitals, 7 MOBs Square footage: 655,661 Average age of buildings: 6 years Occupancy: 99.6 percent Average remaining lease term: […]