News Release: SNL Real Estate: Griffin-American REIT II’s Portfolio Captures REIT Attention
On May 6, The Wall Street Journal reported California-based Griffin-American Healthcare REIT II Inc. is the target of four bidders, representing a deal that could value the nontraded REIT at approximately $3.66 billion. If accepted, one of the following four companies the Journal named could expand its portfolio with 279 health care buildings: Ventas Inc., […]
News Release: Griffin-American Healthcare REIT III Meets Minimum Offering, Enters Agreements to Acquire Three Atlanta Medical Office Buildings
Executive stock purchase plans commence ATLANTA (May 14, 2014) – American Healthcare Investors and Griffin Capital Corporation, the co-sponsors of Griffin-American Healthcare REIT III, Inc., announced today that the REIT reached its minimum offering of $2 million in subscriptions on May 12. As a result, all initial subscribers have been admitted as stockholders of Griffin-American […]
News Release: Meridian Property Company Welcomes Newest Tenant, Petaluma Health Center in Rohnert Park, Calif.
SAN RAMON, CALIF. – Meridian Property Company, a full service real estate developer and owner of medical real estate, is pleased to welcome its newest tenant, Petaluma Health Center, to the medical office building in Rohnert Park, Calif., located at 5900 State Farm Drive. Petaluma Health Center will occupy the entire second floor of the […]
News Release: Texas Center for Athletes Changes Hands
Transwestern Represented Seller, Was Retained by Buyer for Leasing and Management (MAY 6, 2014 – SAN ANTONIO) – Transwestern’s San Antonio office today announces it completed the sale of Texas Center for Athletes on behalf of Sports SA Holdings LP. The 128,347-square-foot, state-of-the-art medical office building in San Antonio’s South Texas Medical Center was 98 […]
News Release: Carter Validus Mission Critical REIT, Inc. Exceeds $1 Billion in Investment Assets
May 2, 2014, Carter Validus Mission Critical REIT, Inc. (“CVMC REIT”) announced that it acquired Walnut Hill Medical Center (“Walnut Hill”) in Dallas, TX for $99.4 million and Cypress Pointe Surgical Hospital (“Cypress Pointe”) in Hammond, LA for approximately $25 million. With these acquisitions, CVMC REIT’s portfolio of mission critical real estate assets now exceeds […]
Outpatient Projects: Kelsey-Sebold Clinic starts work on new MOB in Houston suburb of Clear Lake, Texas
CLEAR LAKE, Texas – Kelsey-Seybold Clinic of Houston has begun construction on a new MOB in the suburb of Clear Lake to meet increasing demand and improve the patient experience. The new building will consolidate the well-known clinic’s physicians and services from two local buildings into one.
Industry Pulse: New entrants will disrupt healthcare
$2.8 trillion That’s the size of the U.S. healthcare system, and the potential of the “New Health Economy” will be even greater, says a new report from the consulting company PricewaterhouseCoopers LLP (pwc). That’s the good news. The not so good news – at least for some current hospitals and physicians – is
Cover Story: Forecasting the future
Industry experts discuss the outlook for the healthcare real estate sector By John Mugford To say that healthcare real estate has come a long way in recent years would be a bit of an understatement. All one has to do to illustrate such a point is to peruse the list of sector investor types – […]
Transactions: Another value-add MOB for N.Y. firm
Benedict Group plans to convert 47% occupied building to all medical space By John B. Mugford Fresh off successfully filling a large amount space in its first medical office acquisition, a Great Neck, N.Y.-based real estate firm is ready to take on another value-add project. The firm, Benedict Realty Group (BRG), recently acquired
Transactions: Meridian acquires value-add MOB
Sonoma County, Calif., building provides ‘rare” opportunity for medical tenants By John B. Mugford San Ramon, Calif.-based Meridian Property Co., a commercial real estate firm that focuses mostly on healthcare, recently closed escrow on the purchase of a value-add, 69,000 square foot MOB in Rohnert Park, Calif., about 50 miles north of San Francisco […]
Transactions: Griffin-American REIT II acquires MOB in Carson City, NV for $19.5M or $264 PSF
CARSON CITY, Nev. – With the largest hospital in the area as a major tenant, the off-campus, outpatient Eagle Medical Center in Carson City is a major medical destination on one of the city’s most-traveled thoroughfares. Newport Beach, Calif.-based Griffin-American Healthcare REIT II recently acquired the 73,975 square foot MOB at 2874 N. Carson St., […]
Hot Property: Portfolio hits the market in Indiana
Offering has six buildings, 170,000 square feet and a AA-rated system tenant Name: Northwest Indiana MOB Portfolio Cities: Munster, Schererville, Dyer and Hammond, Ind. Number of buildings: 6 Total square feet: 170,000 Occupancy: More than 90 percent Seller: Undisclosed Major tenant: Franciscan Alliance Lead brokers: Erik Foster, Mike Wilson Broker: Avison Young, Chicago office
Outpatient Projects: NexCore completes NorthBay MOB
Health plaza to be first of multiple outpatient facilities on Fairfield, Calif., campus By Murray W. Wolf NexCore Group LP recently completed the $20 million, two-story, 35,600 square foot Green Valley Health Plaza in Fairfield, Calif., for NorthBay Healthcare. The Denver-based healthcare real estate (HRE) developer says that the project at 4520 Business Center Drive […]
Outpatient Projects: More Outpatient Projects
HSA PrimeCare announced in March that it has completed the 15,200 square foot Hawthorn Surgery Center at 240 Center Drive in Vernon Hills, Ill., a northern Chicago suburb. The tenant, Hawthorn Surgery Center, selected HSA PrimeCare as its development partner in 2012. HSA PrimeCare, the national healthcare real estate division of Chicago-based HSA Commercial Real […]
Outpatient Projects: MOB project underway at former aircraft manufacturing campus in Long Beach, Calif.
LONG BEACH, Calif. – Urbana Development LLC has started construction of the $30 million, two-building, 90,000 square foot Douglas Park Medical Office Park near Long Beach Airport. Urbana, which is affiliated with Long Beach-based JR van Dijs Inc., a local construction and real estate development firm, says 65,000 square feet of the total square footage […]