Archives: March 2013
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Industry Pulse: SANFORD HEALTH: COMING TO A MARKET NEAR YOU?
Haven’t heard of Sanford Health? You will. The fast-growing healthcare system wants to expand beyond its rural roots to urban areas. From one hospital in Sioux Falls, S.D., in 2004, Sanford has grown to become the nation’s largest rural, not-for-profit provider, with locations in 126 communities in eight states. Fueled by credit card mogul T. […]
Industry Pulse: Lines blur between inpatient, outpatient
As outpatient facilities become such a major focus of the country’s healthcare delivery model, perhaps it will become more and more difficult to distinguish between inpatient hospitals and certain outpatient facilities, such as surgery centers. In a growing area southeast of Jacksonville, Fla., St. Vincent’s HealthCare is planning to open a new hospital in October […]
Industry Pulse: Survey details largest senior living operators
Holiday Retirement Corp., Emeritus Corp. (NYSE: ESC) and Merrill Gardens LLC top a new survey of the nation’s largest senior living providers. Many of the healthcare real estate investment trusts (REITs) and other investors that own medical office buildings (MOBs) also own senior living facilities. That means many senior living firms are tenants or prospective […]
Publisher’s Letter: Visit HREInsights.com
HREI™ unveils redesigned, vastly expanded website Dear Reader: It’s been an extremely busy several months here at Healthcare Real Estate Insights™. In January, we celebrated 10 years of publishing with the unveiling of the “new and improved” HREI™ monthly magazine. Next, we wrapped up several months of work with the publication of our sixth annual […]
Industry Pulse: $2 billion project being reviewed in San Francisco
California Pacific Medical Center’s titanic building program looks to be back on course after the health system and its parent company, Sacramento, Calif.-based Sutter Health, reached a compromise with the San Francisco Board of Supervisors. After months of contentious negotiations, the compromise calls for CPMC to move forward with a scaled-down version – at 274 […]
Thoughts Leaders: Healthcare still a real estate star
By Donna Jarmusz, Senior Vice President, Alter+Care No question – 2012 was the year of healthcare. In one of the most significant rulings in recent memory (perhaps since the awarding of the Presidency to George W. Bush in 2000), the Supreme Court upheld President Obama’s health care law in a nuanced interpretation of Federal versus […]
Capital Markets: Are we at an inflection point?
A big increase in deals isn’t expected, but volumes tend to spike at such times A shift in the focus of the capital markets is beginning to occur, with an increasing level of discussion about the risks of rising interest rates. While most people do not expect a sharp increase in rates, two key drivers […]
Hot Property: An opportunity grows in Brooklyn
Name: One Hanson Place Number of Medical Suites: 9 Location: 1 Hanson Place, Brooklyn, N.Y. Size: 12,396 square feet (nine suites) Asking Price: $7.975 million Price Per Square Foot: $643.35 Cap Rate: 8.01% Occupancy: 100% Avg. remaining lease term: 5 years Building Completed: 1927 Seller: Noyack Medical Partners LLC Tenants: Dentists, oral surgeons, urologist, pediatrics […]
Transactions: HTA acquires another MOB in Dallas
This time, REIT pays $48.7M for facility on campus of physician-owned hospital By John B. Mugford In recent months, officials with Scottsdale, Ariz.-based Healthcare Trust of America Inc. (NYSE: HTA) expressed how pleased they were to acquire a medical office building (MOB) on the campus of the physician-owned Forest Park Medical Center in Dallas. The […]
Editor’s Letter: Watch out for Chicago
Windy City’s healthcare scene is about to take off Dear Reader: Without a doubt, the best known concentration of medical facilities in the country is in Houston: The Texas Medical Center. The granddaddy of all medical districts, the area not far from downtown has a total of 37 million square feet of space inside hospitals, […]
Cover Story: Advocate again
Seven MOBs on Chicago-area system’s campuses are back on the market By John B. Mugford When Advocate Health Care sold eight of its medical office buildings (MOBs) to Great Lakes REIT in 2002, it was a historic deal – one of the first large hospital-driven real estate monetizations. Now, 11 years later, seven of those […]
Cover Story: A concise history of the Advocate MOBs
A pioneering monetization was just the beginning of this portfolio’s storied history ■ July 11, 2002. Oak Brook, Ill.-based Great Lakes REIT confirms that it has agreed to buy a portfolio of eight medical office buildings (MOBs) from Advocate Health Care, a Chicago-based health system.
Cover Story: What’s included in the Advocate Medical Office Portfolio
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Feature Story: Independence day
Privately held Cornerstone Cos. says it is doing just fine on its own By John B. Mugford When capital-rich suitors came calling in recent years, many smaller healthcare real estate firms (HRE) succumbed to the temptation to partner or be acquired. But one regional HRE firm that has no plans to sell is Indianapolis-based Cornerstone […]