Capital Markets Snapshot: Markets quiet; job data scrutinized
TAX-EXEMPT MARKET REMAINS ROBUST AS AA-RATED SYSTEMS ISSUE BONDS By Cain Brothers The markets have been relatively quiet recently as economic releases continue to befuddle investors. Initial jobless claims came in a bit soft for the second week in a row, and, to nobody’s surprise the prior week’s figures were revised upward (meaning more claims). […]
Q & A: Strong year anticipated
JOHN SMELTER SAYS ‘STARS ARE ALIGNED’ FOR MOBS By John Mugford These days, John R. Smelter is well known as one of the most active and knowledgeable sales professionals in the medical office building (MOB) transaction market. As a broker who works out of the San Diego office of Marcus & Millichap, Mr. Smelter is […]
Special Report: Adaptive reuse on a roll
PROVIDERS HAVE REPURPOSED MILLIONS OF SQ. FT. By Murray W. Wolf There has been a lot of talk in recent years about repurposing other types of real estate for medical use. With millions of square feet of office and retail space sitting vacant across the nation, much of it in high-traffic locations, the idea of […]
Industry Pulse: April 2012
SCOTTSDALE, Ariz. – Several sources in the healthcare real estate industry have told Healthcare Real Estate Insights™that a portfolio of nine medical office buildings (MOBs) offered for sale by Scottsdale Healthcare is under contract and likely to close soon, perhaps in coming weeks. A spokesperson for New York-based Savills LLC, which had listed and was […]
News Release: Just Closed Northside East Cobb Medical Campus
The CBRE Healthcare Capital Markets Group acted as the exclusive advisor for the monetization of the Northside East Cobb Medical Campus. Sale Date: Sale Price: Sale PPSF: Building Size: Occupancy: YOC: March 21, 2012 $19,200,000 $277 69,341 SF 96.85% 1985, 1990, 1991 (renovated 2009) The CBRE Healthcare Capital Markets Group is pleased to announce the sale of the Northside East Cobb […]
Editor’s Letter: That’s news to me
TELL US KNOW ABOUT YOUR LATEST PROJECTS By John B. Mugford Dear Reader: I know I’ve done this before, but here I am again asking for your help in getting as much news as possible into our publication. The news we’re looking for and will publish in Healthcare Real Estate Insights™ has to do with […]
Project Case Study: Indy MOB altered to reflect strategy
JOHNSON DEVELOPMENT CHANGED COURSE OF $30 MILLION FACILITY TO ADD ASC By John Mugford The Indianapolis office of Birmingham, Ala.-based Johnson Development recently completed a surgery center that is part of a previously completed $30 million, 120,000 square foot medical office building (MOB) on the campus of Indiana University Health Saxony Hospital in Fishers, in […]
People: Dennis Norvet joins Skanska USA
VETERANS HEALTHCARE REAL ESTATE EXEC TO FOCUS ON BUSINESS GROWTH Staff Report Parsippany, N.J.-based Skanska USA’s building business unit recently announced that Dennis Norvet has joined the firm’s Nashville office as senior VP of business development. Mr. Norvet is working with Skanska’s operations and business development teams in Tennessee, Kentucky, Ohio and Michigan to help […]
Companies: JLL-led 410-bed hospital project done
NEW PARKVIEW REGIONAL MEDICAL CENTER HAS OPENED IN FORT WAYNE, IND. By John Mugford There were weather challenges and a labor strike to overcome, but the new Parkview Regional Medical Center in Fort Wayne, Ind., was completed a month early and was basically $11 million under budget. The 410-bed hospital project was led by a […]
Inpatient Projects: Oakland hospital plans $425M project
CHILDREN’S NEW REBUILD AND RETROFIT PLAN IS STILL IN CONCEPTUAL STAGE By Brittany Ritchie Since 2008, Children’s Hospital & Research Center Oakland has proposed two distinctly different construction plans to meet the state’s seismic safety guidelines for healthcare facilities. The first was quite extensive and called for a $700 million rebuilding of the hospital […]
Outpatient Projects: Duke Realty developing new VA clinic
FIRM IS CONSTRUCTING $38 MILLION, 106,000 SQUARE FOOT MOB IN TAMPA, FLA. By John Mugford Duke Realty Corp. (NYSE: DRE) has been selected by the U.S. Department of Veterans Affairs to develop and serve as the general contractor for a new $38 million primary care clinic at Hidden River Corporate Park in the northeastern part […]
Outpatient Projects: Indiana systems collaborating on MOB
FUTURE 70,000 S.F. FACILITY IS SLATED FOR FAR SOUTHERN INDIANAPOLIS METRO By John Mugford This is indeed an era in which consolidation among hospitals and health systems is quite commonplace, as providers are continually figuring out how to become as efficient as possible. In some instances, however, health systems and hospitals who are not ready […]
Transactions: Duke Realty buys five MOBs near Cincy
REIT ACQUIRES PORTFOLIO WITH MORE THAN 109,000 S.F. – PLUS ROOM FOR MORE By John Mugford Indianapolis-based Duke Realty Corp. (NYSE: DRE) is on an aggressive path toward bolstering its medical real estate portfolio, both through acquisitions and development. The company added to its more than 4 million square feet of medical real estate holdings […]
Capital Markets Snapshot: Hospital consolidation is evolutionary
M&As CAN BE A STRATEGIC OPPORTUNITY IN A HIGHLY FRAGMENTED INDUSTRY By Cain Brothers A recent panel discussion by healthcare providers highlighted that they each faced consolidation pressures from healthcare reform. Assuming healthcare reform isn’t struck down by the U.S. Supreme Court, the key drivers include daunting capital needs, major changes in the reimbursement model […]
Provider Perspective: Off-campus plans grow
OUTPATIENT STRATEGIES ARE A PROVIDER PRIORITY By Murray W. Wolf According to some estimates, 70 percent of healthcare today is still delivered in an inpatient setting. But, some predict that during the next several years, the pendulum will swing to 70 percent of the care being delivered in outpatient locations – and many of those […]