Provider News: Community Health buying two systems
PUBLICY TRADED HEALTHCARE SYSTEM SNAPPING UP STRUGGLING HOSPITALS By John Mugford Franklin, Tenn.-based Community Health Systems Inc. (NYSE: CYH) recently went on a bit of a buying spree, acquiring two hospital systems: one in Ohio and the other in South Carolina. The purchases expanded the company’s portfolio to more than 125 hospitals and 18,000 beds […]
Outpatient Projects: NexCore starts new project in Illinois
DENVER-BASED FIRM WILL DEVELOP, OWN $52 MILLION PROJECT NEAR CHICAGO By John Mugford Denver-based NexCore Group broke ground in recent days on a six-story, 182,000 square foot Medical Services Building (MSB) on the campus of the future Silver Cross Hospital under construction in New Lenox, Ill., just outside of Joliet and about 30 miles from […]
Transactions: HTA agrees to Pittsburgh purchase
REPORTS SAY WEST PENN ALLEGHENY SYSTEM MIGHT OCCUPY ENTIRE BUILDING By John Mugford Scottsdale, Ariz.-based Healthcare Trust of America Inc. (HTA) in recent weeks was poised to make a second major acquisition in Pittsburgh. HTA recently agreed to acquire the Alcoa Business Services Center, a six-story, 230,000 square foot office property located across the street […]
Special Report: What’s ahead for MOBs?
PROVIDERS PONDER IMPACT OF INDUSTRY TRENDS By John Mugford For the most part, the passage of healthcare reform was looked upon as a positive for the medical office building (MOB) sector. After all, conventional wisdom says that if more people – an estimated 32 million more – have access to healthcare services there will be […]
News & Analysis: Sold: Three Denver MOBs
SEPARATE DEALS WITH TWO BUYERS NET $53.25M By John Mugford The notion that investors are ready and willing to pay good money for high-quality, well-located medical office buildings (MOBs) held true in Denver in recent weeks. Three MOBs offered by the company that developed them, Development Solutions Group LLC, which has offices in Denver and […]
Industry Pulse: September 2010
WOODBURY, Minn. – The design and scope of medical office buildings (MOBs) have been evolving ever since their inception. Now, in the Twin Cities suburb of Woodbury, perhaps a new hybrid has emerged that combines an MOB with an urgent care and an emergency room. It is to be called the Urgency Room and is […]
Publisher’s Letter: Another visit to the ER
THIS TIME, THE PATIENT EXPERIENCE WAS BETTER By Murray W. Wolf Dear Reader: As the parents of three children, my wife and I have had many opportunities – too many, in fact – to interact with the U.S. healthcare system during the past 16-plus years. In fact, I suspect that our teenage sons are locked […]
Inpatient Projects: Huge ‘healthcare city’ slated for Calif.
PROJECT IS BEING BUILT ON FORMER MARCH AIR FORCE BASE NEAR RIVERSIDE By John Mugford It’s taken about six years of planning, formulating and implementing the idea for what is being called a massive “healthcare city” on surplus land at the former March Air Force Base near the cities of Riverside and Moreno Valley, Calif., […]
Transactions: L.A. MOB complex sells for $71 million
CIM AFFILIATES PAY $350 PSF FOR WEST WILSHIRE MEDICAL CENTER, RCA SAYS By John Mugford Definitive information remains elusive concerning the recent sale of a large medical complex in Los Angeles, the West Wilshire Medical Center. Described by local brokers as a 203,000 square foot, two-building complex, the properties at 11600 and 11620 Wilshire Blvd. […]
Special Report: Is the (third) party over?
WILL PROVIDERS DECIDE TO OWN THEIR OWN MOBs? By Murray W. Wolf In early 2009, Northwestern Memorial Hospital in Chicago issued a request for proposals (RFP) for the third-party development and ownership of a new medical office tower at its landlocked Streeterville campus on the city’s Near North Side. Plans called for razing two older […]
Industry Pulse: August 2010
SAN FRANCISCO – It looks like an opportunity to build medical office buildings (MOBs) and hospital-related buildings has emerged in an area of San Francisco that is rife with some of the world’s best known life science companies. Several parcels designated for medical office or hospital-related buildings are part of the massive, 303-acre Mission Bay […]
Q & A: Spencer reflects on career, sector
COGDELL SPENCER INC. CEO SAYS REIT IS ON FIRM FOOTING FOR THE FUTURE By John Mugford Ever since Frank C. Spencer joined what was then the Cogdell Group back in 1996, he has seen plenty of changes in the firm and the medical office building (MOB) industry – big, dramatic changes, on both fronts. Not […]
Transactions: Healthcare Trust Picks Up More Mobs
NON-TRADED REIT SNAPS UP MEDICAL BUILDINGS IN SOUTH CAROLINA AND TEXAS By John Mugford Healthcare Trust of America continued with its acquiring ways in recent weeks. The Scottsdale, Ariz.-based non-traded healthcare real estate investment trust (REIT) purchased a two-building medical office building (MOB) in the Dallas-Fort Worth Metroplex in Texas, an MOB in Charleston, S.C., […]
Special Report: Revisiting monetizations
EXPERTS DISCUSS PAST DEALS, CURRENT MARKET By Dan Emerson With increasing frequency during the past decade or so, healthcare providers have discovered that monetizing ancillary medical real estate can be a useful financial and operational strategy. A panel of healthcare real estate and health system executives at BOMA International’s recent 2010 Medical Office Building (MOB) […]
News & Analysis: A Texas-sized lease deal
MEMORIAL HERMANN TAKES MORE THAN 800,000 S.F. By Murray W. Wolf As the largest not-for-profit healthcare provider in one of the nation’s largest cities, Memorial Hermann Healthcare System has shown a preference for maintaining direct control of its millions of square feet of on-campus medical office space across the Houston area. The only one of […]