Post-Acute & Senior Living: New Senior plans largest buy to date
‘Pure play’ senior housing REIT to pay $435M for 17-asset portfolio in 10 states By Daniel H. Larson New York-based Newcastle Investment Corp.’s spin-off company, New Senior Investment Group, recently announced its biggest deal yet.
Post-Acute & Senior Living: The Wesley Community plans $42 million senior care facility in Upstate NY
MALTA, N.Y. – Saratoga Hospital is teaming up with The Wesley Community in planning a new $42 million senior-living apartment complex in Malta, a small town about 25 miles north of Albany in Saratoga County, N.Y. The Wesley Community is a not-for-profit entity sponsored by Hutchinson, Kan.-based United Methodist Health. It currently operates a 36-acre […]
Post-Acute & Senior Living: More Post-Acute & Senior Living News
■ Franklin Park Stone Oak of San Antonio has secured $20 million in financing to move forward on the assisted living facility’s second phase. Plans calls for adding 63 independent living units to the 99 units built in 2011. Construction would begin in the second quarter (Q2) of 2015 and completed in 2016. Chicago-based Harrison […]
REIT Report: Newcastle spin-off creates new REIT
New Senior Investment Group began trading Nov. 7 on the New York exchange By Murray W. Wolf Careful readers will notice that the Healthcare Real Estate Insights™ Index of Publicly Traded Healthcare Real Estate Investment Trusts (REITs) shown below has grown since last month. New to the index this month is New Senior Investment Group (NYSE: […]
Capital Markets: Assumable loans increase options
A lender’s flexible structure and approach should be important for borrowers By Erik Tellefson Assumable loans generally allow for the debt to be assumed by another party, typically at the lender’s discretion and in exchange for an assumption fee. While an assumption provision may seem insignificant relative to more key loan terms like rate, term, […]
Companies & People: H2C led year’s largest monetization
Investment banking, advisory firm represented Pa. system in $174.1 million sale By John B. Mugford The largest health system sale, or monetization, of a real estate asset portfolio in 2014 took place in October, when Harrisburg, Pa.-based PinnacleHealth sold eight buildings to ARC Healthcare Trust II, a non-traded real estate investment trust (REIT).
Companies & People: More Healthcare Real Estate Company & People News
■ Brandon Muzik recently joined Chicago-based Stage Equity Partners LLC, a HRE investment firm, as director of acquisitions. His primary responsibilities include sourcing, underwriting and closing transactions. “Brandon’s professional experience in the healthcare real estate industry is a great asset to Stage,” said Brian Howard, who is a principal of the firm along with Russell […]
Cover Story: Hail to the REITs
Public HRE trusts control growing share of $1 billion market By John B. Mugford In the $1 trillion universe that is healthcare real estate, real estate investment trusts (REITs) certainly compete with each other when it comes to acquiring desirable properties, gaining name recognition and attracting investors. But it also looks as if the two […]
Feature Story: Insights Awards finalists announced
Second annual event honors healthcare real estate’s top people and projects As Scottsdale basked in brilliant sunshine in late 2013, 82-year-old Robert A. “Bob” Rosenthal’s sunny disposition was on display as he bounded onto a stage inside the Phoenician Resort. Upon receiving the 2013 HREI Lifetime Achievement Award for a career that spanned five decades, […]
Transactions: CNL Healthcare closes $238M deal
The timing was right for the sale, longtime developer Meadows & Ohly says By John B. Mugford In our September 2014 edition, Healthcare Real Estate Insights™ first wrote about a pending $238 million medical office building (MOB) transaction in which Orlando, Fla.-based CNL Healthcare Properties would acquire a portfolio of 13 medical office buildings (MOBs) […]
Transactions: CNL pays $11.3 million for 78% occupied MOB next to hospital in Margate, Fla.
MARGATE, Fla. – In more news from CNL Healthcare Properties, the non-traded REIT recently paid $11.3 million for a multi-tenant, 45,565 square foot MOB in Margate, Fla., near Fort Lauderdale along the Atlantic Coast. The REIT describes the Northwest Medical Park building, at 2801 N. State Road 7, as a “Class A” facility that is […]
Transactions: Healthcare Realty Trust lands MOB attached to hospital in Seattle suburbs
BURIEN, Wash. – Nashville, Tenn.-based Healthcare Realty Trust Inc. (NYSE: HR) recently acquired a 60,161 square foot, five-story MOB in Burien, in the suburbs south of Seattle, for $22.675 million.
Transactions: Minnesota system sells building in sale-leaseback; Health Care REIT is the buyer
ST. PAUL, Minn. – Toledo, Ohio-based Health Care REIT (NYSE: HCN) recently found a monetization acquisition opportunity in downtown St. Paul, Minn., and it moved forward on the purchase of the Nasseff Specialty Center from Minneapolis-based Allina Health.
Transactions: ARC Healthcare Trust II acquires docs’ MOBs in Northwest Indiana for $46M
MUNSTER, Ind. – In what some observers are calling the Midwest’s largest medical office building (MOB) deal of 2014, New York-based ARC Healthcare Trust II closed on a five-building portfolio in Northwest Indiana, outside of Chicago, for about $46 million. The portfolio has a total of 165,000 square feet, meaning the unlisted real estate investment […]
Outpatient Projects: Phoenix doc plans wellness campus
$30 million campus in Glendale, Ariz., would provide a continuum of care By Connie McCaffrey With an eye toward providing preventive care and wellness, a Phoenix area radiologist is planning a new $30 million outpatient campus near a hospital in Glendale, Ariz. Dr. John Simon, the founder of SimonMed Imaging Inc., is planning the project […]