Industry Pulse: Hospital Moving Forward after Decade in Limbo
Trinity Medical Center showed its gratitude when it got the OK to complete and open an unfinished hospital in Birmingham, Ala. Photo courtesy of Trinity Medical Center It has been 10 years since work stopped on HealthSouth Corp.’s planned Digital Hospital. And it has more than four years since Trinity […]
News Release: Cambridge Arranges $3.7 Million HUD Lean Loan to Refinance Metropolis Nursing and Rehab Center in Metropolis, Illinois
Cambridge Realty Capital Companies reports closing a $3.7 million HUD Lean first mortgage loan for Metropolis Nursing and Rehabilitation Center, a 103-bed skilled-care nursing home in Metropolis, Ill. Cambridge Chairman Jeffrey A. Davis said the fully-amortized, 30-year term mortgage was arranged for the owner, a Missouri limited liability company, using the HUD Section 232 pursuant […]
News Release: $16 Million Acquisition Loan and Bridge Loan to FHA 232/223(f)
About the Transaction KeyBank Real Estate Capital® provided a $16.3 million term loan to refinance existing debt and to acquire an additional skilled nursing facility for RollinsNelson LTC Corp. The term loan will serve as a bridge to long term HUD financing. The KeyBank Real Estate Capital Relationship Key’s relationship with RollinsNelson supports the company’s […]
Industry Pulse: CHI slashes facility spending
If it seems like many hospitals and health systems are spending less on facilities, it’s because they are. In a new article in HealthLeaders magazine, Nick Barto, senior VP for capital finance for Catholic Health Initiatives (CHI), states that the budget for routine replacement and facility repositioning and expansion accounts for 39 percent of the […]
News Release: Stage Equity Partners Acquires 52,000 sf Medical Office Complex in Prime Chicago Suburb across from Alexian Brothers Hospital
CHICAGO (May 16, 2013) – Chicago-based healthcare real estate investment company Stage Equity Partners LLC (“Stage”) announced the recent acquisition of a 52,126 square foot medical office complex in Elk Grove Village, a northwest suburb of Chicago. According to Stage President and Founder Brian Howard, the complex of four single-story interconnected buildings called Woodland Square […]
News Release: MedProperties Holdings invests in rehab hospital
MedProperties Holdings invests in rehab hospital Dallas-based real estate private equity investment firm is joint venturing with Avail Healthcare Ventures and Trivant Healthcare to develop 40-bed hospital near Austin, Texas MedProperties Holdings is serving as the primary equity source for a new rehabilitation hospital in Kyle, Texas, which will be 100 percent leased by a […]
News Release: Just Closed – Aa3 Rated MOB
Recently closed transaction, Spectrum Health West Pavilion – Grand Rapids, MI (MSA) Michael Bennett of Newmark Grubb Knight Frank acted as exclusive advisor on the sale of the Spectrum Health West Pavilion, located ub the Grand Rapids, MI MSA. The Property was 100% occupied by Spectrum Healthcare, rated Aa3 by Moody’s. The 15 Year NNN […]
News Release: Equity REIT Term Loans Top $30B
Between April 2012 and May 2013, aggregate outstanding equity REIT term loans jumped from $18 billion to $30 billion. General Growth Properties took out the largest term loan in 2013, with its $1.5 billion loan originated April 26. Equity REIT term loan usage has increased steadily over the last 18 months. As of May 10, […]
Transactions: Sale pending for newly redeveloped medical office in N.J.
CHERRY HILL, N.J. – The brand new LourdesCare at Cherry Hill, a 54,000 square foot outpatient center in the Philadelphia suburb of Cherry Hill, is most likely going to change hands soon. According to information from real estate research firm Real Capital Analytics (RCA) Inc., a sale is pending between the owner and developer of […]
News Release: Jeannine Kirk Joins Montecito Medical Operating Company
SANTA BARBARA, Calif. (May 10, 2013) – Montecito Medical Operating Company (MMOC), a leading medical related real estate company, is pleased to announce the addition of a new Closing Coordinator to its in-house due diligence group. Jeannine Kirk, originally of the South Jersey area, brings twenty plus years of paralegal experience with a concentration in […]
News Release: ERDMAN expasnds Board of Directors
Madison, Wis. (May 15, 2013) – ERDMAN, a national leader in healthcare consulting, facility planning, development and design-build, today announced the appointment of Bruce Cohen, President and Chief Operating Officer of Ares Commercial Real Estate Corporation – a publicly traded specialty finance company – to its board of directors. As a respected leader, Cohen will […]
News Release: Irgens, St. Clare Hospital Announce New On-Campus Medical Office Building in Baraboo, Wisconsin
FOR IMMEDIATE RELEASE Irgens Contact: Eric Nelson (414) 443-2593 enelson@irgens.com twitter.com/irgenspartners Dean Health System, SSM Healthcare to Lease Facility, Provide Ophthalmology, Orthopedics, General Surgery and OB-GYN Services 5.15.2013 – Milwaukee – Irgens and St. Clare Hospital have announced the development of a $6.5 million, 30,000 square foot medical office building on the hospital’s campus in […]
News Release: American Realty Capital Healthcare Trust Reports First Quarter 2013 Results and Announces Completion of $160.8 million in New Acquisitions since the Fourth Quarter 2012
FOR IMMEDIATE RELEASE New York, New York, May 15, 2013 – American Realty Capital Healthcare Trust, Inc. (“ARCHT” or the “Company”) announced today that modified funds from operations (“MFFO”), as defined by the Investment Program Association (“IPA”), for the quarter ended March 31, 2013 increased 535.7% to $8.9 million from $1.4 million for the quarter […]
News Release: C.C. Hodgson Architectural Group announces opening of Resthaven Care Community in Michigan, emphasizing wellness & spirituality
CLEVELAND, May 10, 2013— Resthaven Care Community (Holland, MI) recently opened a $4.6 million patient-centered expansion that includes a 16-suite rehab cottage, chapel/life center and wellness center. C.C. Hodgson Architectural Group, a Planetree certified architectural firm specializing in senior living, worked closely with the Resthaven team to design a facility that emphasizes wellness and spirituality. […]
News Release: $16.4 Million Medical Office Refinance Arranged by Marcus & Millichap Capital Corp.
HOUSTON, May 14, 2013 – Marcus & Millichap Capital Corporation (MMCC) has arranged the $16.4 million refinance of a 125,000-square foot medical office building in Houston. Peter Dunn, a senior director in MMCC’s Houston office, arranged the loan. “The property was severely damaged by Hurricane Ike in 2008 and then completely abandoned,” says Dunn. “The […]