Inpatient Projects: Fort Bliss to get $648 million, 1.1 million square foot replacement medical center
EL PASO, Texas – Construction is set to begin on the $648 million, 630,000 square foot William Beaumont Army Medical Center at Fort Bliss. The project will include a seven-story hospital, two clinic buildings, an administrative building, a biosafety-equipped, clinical investigation building, laboratories, and a central utility plant.
Transactions: Los Angeles MOB garners a whopping price of $847 per square foot
LOS ANGELES – A once-speculative Los Angeles MOB that now houses the DaVita Westwood UCLA Dialysis Clinic recently fetched a whopping $847 PSF in a transaction that closed in recent weeks. The sale price for the three-story, 17,825 square foot building at 10630 Santa Monica Blvd. was $15 million.
Industry Pulse: On The Record
What MOB acquisitions opportunities are you seeing? “We continue to see plenty of opportunity to acquire individual properties, ranging from $20 million to $50 million at attractive cap rates of about 7 percent on average.” Todd J. Meredith EVP of Investments, Healthcare Realty Trust Will kind of cap rates are you seeing for […]
Inpatient Projects: Ground broken for New Sibley Memorial in Washington, D.C.
WASHINGTON, D.C. – Construction began July 1 on what is being called the New Sibley Memorial Hospital. Essentially, the hospital campus is being rebuilt, with the recent groundbreaking marking the start of construction on a 469,000 square foot, 200-bed facility on the campus in northwest Washington. The hospital, owned by Johns Hopkins Medicine, will include […]
Industry Pulse: Healthcare Sector Leads Jobs Growth
A new report reminds us why HRE is a good business. In its recent “Healthcare Metro Monitor Supplement,” the Brookings Institution reports that the U.S. healthcare industry added 2.6 million jobs during the past decade. That was an increase of 22.7 percent, far exceeding the 2.1 percent growth rate in all other industries.
Companies & People: Perkins+Will designed rehab hospital opens in Boston-area navy yard
CHARLESTOWN, Mass. – A 262,000 square foot rehabilitation hospital designed by Chicago-based Perkins+Will recently opened on a remediated brownfield parcel in the Charlestown Navy Yard just outside of Boston. The $225 million Spaulding Rehabilitation Hospital replaces an aging, 42-year-old facility on the banks of the Charles River.
More Outpatient Projects
Meadows Healthcare Alliance, which operates Meadows Regional Hospital in Vidalia, Ga., recently acquired a former manufacturing complex for what officials are calling a “future medical development.” Hospital officials have yet to provide details about what the health system has planned for the 44.2-acre site, which is home to the 187,000 square foot building that formerly […]
News Release: Medical Office Building Assets Continue to Outperform Other Sectors
Strong leasing fundamentals, plentiful capital and limited supply of product continue to fuel aggressive pricing for good-quality medical office properties. NEW YORK – July 24, 2013 – Cushman & Wakefield today released the results its 2013 Medical Office Building Investor (MOB) Survey which tracks the opinions of a broad range of lenders, brokerage professionals and […]
News Release: Cushman & Wakefield Arranges 36,000 Square-Foot Sublease at 10 Exchange Place
CarePoint Health will Occupy Full Floor at Premiere Waterfront Property JERSEY CITY, N.J., July 23, 2013 – Commercial real estate services firm Cushman & Wakefield, Inc. has completed a 36,000-square-foot, full-floor sublease from Rabobank to CarePoint Health at 10 Exchange Place, on Jersey City’s Hudson River waterfront. Dan Johnsen, Robert Rudin, Michael Burgio, Daniel Organ, Robert […]
News Release: Just Closed: FCH Medical Building, Metropolitan Atlanta – CBRE Inc.
The CBRE Healthcare Capital Markets Group acted as the exclusive advisor for the monetization of the FCH Medical Building adjacent to the Piedmont Fayette Hospital campus in Fayetteville, Georgia. Sale Date: July 16, 2013 Sale Price: $15,900,000 Price PSF: $256 Building Size: 62,106 SF Year Built: 2004 Occupancy: 100% The CBRE U.S. Healthcare Capital Markets Group […]
News Release: Magna Health Systems Completes Permanent Financing For Surgical Center; SomerCor 504 Provides Financing SBA 504 Program
Chicago, Ill. (July 19, 2013) – Magna Health Systems has secured permanent financing for its newly developed surgical center at 7456 S. State Road in Bedford Park, Ill. Gabe Beukinga, Senior Vice President, SomerCor 504 worked with Magna Health Systems to secure a significant portion of the loan through the SBA 504 loan program. The new […]
News Release: MedProperties Holdings LLC adds Ohio MOB
Dallas-based firm partners with Equity Inc. to acquire the 65,670 square foot, Class A Evendale Healthcare Center in suburban Cincinnati. Extensive renovations are planned. CINCINNATI and DALLAS, July 18, 2013 – A recently-formed partnership of MedProperties Holdings LLC and Equity Inc. has acquired the Evendale Healthcare Center medical office building (MOB) in suburban Cincinnati. MedProperties […]
News Release: Central Banks in U.S. and Europe Remain Oceans Apart on Strategies to Stimulate Economic Growth, Cambridge Chairman Says
The U.S. and its European trading partners remain oceans apart on strategies aimed at stimulating economic growth, an article posted on the Cambridge Realty Capital Co. website suggests. “In recent weeks, central bankers in the U.S. have been more transparent in discussing a conditional timetable for the phase-out of programs aimed at keeping interest rates […]
News Release: Erica Hirsen Joins Ferguson Partners
Erica Hirsen to Ferguson Partners Chicago office. As Director of Ferguson Partners Ltd., Ms. Hirsen will focus on developing and serving clients in the healthcare real estate industry, specifically in senior housing. Prior to joining Ferguson Partners, Ms. Hirsen was an Assistant Vice President with GE Capital’s Healthcare Financial Services – Real Estate business, a […]
News Release: CNL Healthcare Properties Acquires Four Medical Office Buildings in Tennessee
CNL Healthcare Properties has acquired four medical office buildings in or near Knoxville, Tenn., from affiliates of N.T. Brinkman, Inc., for approximately $57.3 million. The four Knoxville Medical Office Properties total more than 200,000 square feet of modern, Class A, medical office space and include the Physicians Plaza A at North Knoxville Medical Center, Physicians […]