Industry Pulse: More deals likely for Tenet after Vanguard
Health system lands new hospitals as well as even more acquisition firepower As most people involved in healthcare are well aware, Dallas-based Tenet Healthcare Corp. (NYSE: THC) in early October closed on its acquisition of Nashville, Tenn.-based Vanguard Health Systems, which had raised $450 million in an initial public offering (IPO) in 2011.
Industry Pulse: HRE hiring has been heating up this year
Increasing confidence has created a hot market for top-tier talent When the U.S. economy tanked, the healthcare real estate (HRE) sector was not immune.Although the subsequent downsizings at some firms were obviously difficult for those who lost their jobs, they were also painful for those who had to make those hard decisions, says Kevin Jones, managing […]
Industry Pulse: Even a boom town is scaling back hospital
North Dakota’s population boom is no match for trend toward smaller hospitals As the quaint prairie town of Dickinson continues to boom amid North Dakota’s oil-producing “gold rush,” its schools, roads and stores are getting bigger. Housing is expanding rapidly. It’s all part of trying to keep up with a population that has nearly doubled […]
Industry Pulse: MOBs, senior living assets on the block
SNH reports “good interest” on seven-asset MOB portfolio Healthcare real estate investment trust (REIT) Senior Housing Properties Trust (NYSE: SNH) says it is receiving “good interest” on a seven-building, 831,499 square foot medical office building (MOB) portfolio it has been marketing during the past few months. The Newton, Mass.-based firm disclosed in July that “after […]
Industry Pulse: On the Record
Is the so-called ‘retailization’ of healthcare creating new opportunities? “We’re not seeing it translate into new development volume because they’re typically in line with space that exists.” Chris Jackson, VP, Business Development Director, Lend Lease, speaking at the recent InterFace HRE Conference in Dallas What do you see as the future in terms of HRE […]
Publisher’s Letter: Obamacare chaos
Dear Reader: As I write this, the news media is feasting on the bungled rollout of healthcare.gov, the website for the new federal healthcare exchange that was supposed to be the place where Americans could sign up for coverage. Anyone even remotely associated with the debacle is being pilloried, particularly our Commander in Chief. So […]
REIT Report: Sudden CEO change raises eyebrows
‘Management style’ blamed for Jay Flaherty’s abrupt departure from HCP Inc. By Murray W. Wolf In an Oct. 3 news release, healthcare real estate investment trust (REIT) HCP Inc. (NYSE: HCP) announced that longtime chairman, president and CEO James F. “Jay” Flaherty III had been terminated. Lauralee Martin, a top executive with Jones Lang LaSalle […]
Capital Markets: No ‘turning point’ yet in sight
With money flowing into stocks, hospitals feeling stress accessing bond market Have we reached an inflection point? That does not seem likely, as October was one of the most active months for IPOs since 2007. Most recently, we had the Twitter initial public offering (IPO), which minted 1,600 millionaires and generated $485 million and $1.72 […]
News Release: Clarion Partners acquires 10 Brookline Place in Boston’s Longwood medical and academic area
October 24, 2013 For Immediate Release Clarion Partners, a leading real estate investment manager, today announced the acquisition of 10 Brookline Place in Brookline, MA for $121.0 million. The six-story, 173,439 square foot office building serves as the southwest gateway to the Longwood Medical and Academic (LMA) area of Boston. Clarion purchased 10 Brookline Place […]
News Release: AW Property Co. sells six-building MOB portfolio for $63 million
AW Property Co. is pleased to announce the disposition of a six-building, 428,000 square foot, on-campus medical office building portfolio located throughout South Florida. Transaction Overview Healthcare Real Estate Capital (“HRE Capital”), as exclusive financial advisor to AW Property Co. (“AW”), is pleased to announce the disposition of a six-building, 428,000 square foot, on-campus medical […]
Cover Story: A grand bargain in L.A.
MOB sale shatters $1,000 per square foot barrier By John B. Mugford The buyer, Montecito Medical Investment Co., says the MOB merits the lofty price. John B. Mugford The average price per square foot (PSF) that MOB investors have paid so far in 2013 is right around $208 – that’s for transactions of more than […]
Feature Story: Deal takes Washington by storm
Harrison Street’s blockbuster medical office building purchase from WRIT totals $500.75 million Harrison Street should soon become the largest owner of MOBs in D.C. area By John B. Mugford As you read this, Chicago-based Harrison Street Real Estate Capital LLC does not own a single medical office building (MOB) in the Greater Washington, D.C., area. […]
Transactions: HTA lands off-market deal in Florida
Publicly traded REIT buys six on-campus buildings from joint venture for $63M By John B. Mugford Healthcare Trust of America Inc. went fishing in South Florida and came away with a nice prize catch, a portfolio of six on-campus medical office buildings (MOBs). The Scottsdale, Ariz.-based publicly traded real estate investment trust (REIT) spent about […]
Transactions: ‘Health city’ in Florida fetches nice price
Health Care REIT pays $49.5million for medical mall that includes extra land By John B. Mugford In an example of how demand remains strong for high-quality, hospital-affiliated medical office buildings (MOBs), a joint venture (JV) partnership has garnered a double-digit profit in selling an Florida outpatient complex it acquired just two years ago. Toledo, Ohio-based […]
Transactions: Developer sells newly developed MOB for $21.85M in New Jersey
CHERRY HILL, N.J. – In May, Healthcare Real Estate Insights™ reported that a sale was pending for the newly developed LourdesCare at Cherry Hill, a 54,000 square foot outpatient center in the Philadelphia suburbs. That sale has indeed taken place, as the U.S. Healthcare Capital Markets Group of CBRE Group Inc. recently reported that the […]