Post-Acute & Senior Living: More Post-Acute & Senior Living News
■ Evans Senior Investments recently brokered the sale of Legacy Village of Layton to an undisclosed non-traded REIT for $68 million. The Class A property, which opened in 2010, sits just north of Salt Lake City and features 108 independent living units, 74 assisted living units, 24 memory care units and 40 skilled nursing and […]
REIT Report: HTA says aloha to 2014 in style
Public healthcare REIT makes first purchases in Hawaii, invested $440M last year By John B. Mugford Scottsdale, Ariz.-based Healthcare Trust of America Inc. (NYSE: HTA) recently made its first purchases in the Aloha State, acquiring two medical office buildings (MOBs) in separate transactions on the island of Oahu for a total of $47.3 million. The […]
Capital Markets: Medical office building single assets versus MOB portfolios
An aggregation strategy can add diversification that is often accretive By Erik Tellefson Medical office buildings (MOBs), likely more so than many healthcare real estate assets, are often a single-asset real estate class. MOBs are often sold, purchased and financed as single assets, with the ultimate aggregation strategy goal of the purchaser being to put […]
Companies & People: 5 questions for Vince Cozzi
Former Ventas exec shares insight into his new job with large Canadian REIT By John B. Mugford The mid- to late-2000s was a boom time for the country’s medical office building (MOB) sector, a time when real estate investors of various sizes and types started to become interested in, and spend lots of money on, […]
Companies & People: MPT ventures overseas for HRE purchase, landing properties in Germany
GERMANY – With pricing for healthcare real estate properties of all kinds continuing to escalate in the United States, some large investors are looking overseas for deals to complement their domestic portfolios and activity. One such investor is Birmingham, Ala.-based Medical Properties Trust Inc. (NYSE: MPW), which recently entered definitive agreements to acquire and lease […]
Companies & People: Realty Trust Group lands contract with Greensboro, N.C.-based Cone Health
GREENSBORO, N.C. – Knoxville-based Realty Trust Group (RTG) was recently awarded a multi-year contract by Greensboro, N.C.-based Cone Health to provide strategic planning, leasing and other advisory services for the system’s real estate portfolio.
Companies & People: More Companies & People News
■ Shawn A. Janus recently joined San Diego-based Pacific Medical Buildings (PMB), a well-known healthcare facilities developer, owner and manager. Mr. Janus joins PMB as a senior VP for healthcare development and acquisitions. With more than 30 years of experience in commercial real estate, Mr. Janus’ area of expertise in healthcare includes development, acquisition, and […]
Cover Story: Black Friday for healthcare? How retail clinics are influencing real estate strategies
By Murray W. Wolf CVS is aggressively opening new MinuteClinics nationwide. Walgreens Healthcare Clinics have moved beyond low-level primary care into disease management. Target recently announced a retail clinic partnership with Kaiser Permanente – Kaiser’s first. And Walmart just opened several new retail clinics with an “everyday low price” of $40 per visit – or […]
Transactions: DocREIT finds monetization in Ga.
88 percent-occupied portfolio has 13 buildings in Columbus, southeast of Atlanta By John B. Mugford As things stand in the healthcare sector, some health systems are inclined to retain the ownership of as much of their real estate as possible. There are some systems, however, who say they are willing to explore their options, perhaps […]
Transactions: Like a broken record
Q3 2014 MOB sales break the all-time third quarter record from a year ago By John B. Mugford After three quarters of the year, 2014’s medical office building (MOB) sales volume was on pace to set the all-time yearly record, with a potential for topping the high mark set just a year ago. However, it’s […]
Transactions: DocREIT acquires MOB portfolio for $23.1 million from Laub Realty
PENNSYLVANIA – In more news from Physicians Realty Trust, the REIT recently acquired a five-property medical portfolio from Bronx, N.Y.-based Laub Realty, a firm founded by Michael Laub that owns commercial properties in 12 states. The NGKF healthcare team – headed by Tood Perman, Garth Hogan and John Cobb – represented the seller.
Transactions: Griffin-American taking big deals
Non-traded REIT landing MOB portfolios for more than $20M; more deals coming By John B. Mugford With 2014 looking like the “year of the medical office building (MOB) portfolio sale,” Irvine, Calif.-based Griffin-American Healthcare REIT III did its part to solidify such a notion by entering two big deals recently.
Hot Property: Loads of interest in surgical hospital
Physician-owned, 33,217 square foot facility is in affluent area near Reading, Pa. Address: 2752 Century Blvd. City: Wyomissing, Pa. Size: 15 beds, 33,217 square feet Occupancy: 100% Tenant: Surgical Institute of Reading Seller: TEGRA Reading Med. Surg. LLC Brokers: Christopher L. Stai and Clinton J. Parker, Brown Gibbons Lang | Real Estate Partners (BGLRP) Lease […]
Outpatient Projects: Rendina developing Arizona MOB
Three-story, 55,000 square foot facility to be built next to replacement hospital By John B. Mugford As construction continues on a $55 million replacement hospital in Sierra Vista, Ariz., in the far southern part of the state, a 55,000 square foot MOB being developed by a third-party owner is also well underway on the 77-acre […]
Outpatient Projects: HCP plans MOB, mixed-use project
Public REIT to acquire, redevelop assisted living tower site in Fort Worth, Texas By John B. Mugford Irvine, Calif.-based HCP Inc. (NYSE: HCP) isn’t just an owner of healthcare real estate; it’s a developer, too. The publicly traded REIT is in the process of buying and redeveloping the site of an aging assisted living tower […]