Industry Pulse: July 2011
CHICAGO – Sorting through the details of the massive and newsworthy acquisition of Lillibridge Healthcare Services by Ventas Inc. (NYSE: VTR) was supposed to take several months. Officers with both companies said that the $300 million to $400 million deal, which was announced June 23, would most likely close during the third quarter (Q3). (For […]
Publisher’s Letter: It’s good to see cranes
INPATIENT PROJECTS SEEM TO BE REBOUNDING By Murray W. Wolf Dear Reader: Earlier this month, while I was attending the InterFace Medical Office Conference in Houston, I had the opportunity to tour the mammoth Texas Medical Center (TMC). We plan to publish a Houston Market Focus in an upcoming edition, so we’ll save the details […]
Inpatient Projects: Clarian’s Indy expansion is a big one
METHODIST HOSPITAL PLAN COULD COST UP TO $500 MILLION, ADD UP TO 250 BEDS By John Mugford Before the recession, announcements like the one recently coming from Clarian Health System in Indianapolis had become somewhat commonplace. Many large hospitals were planning big expansion projects in order to keep up with demand and/or stave off […]
Transactions: Grubb & Ellis REIT II acquires LTAC
HEALTHCARE REIT PLANS TO BUY A VARIETY OF MEDICAL PROPERTY TYPES By John Mugford As part of its growth strategy, Santa Ana, Calif.-based Grubb & Ellis Healthcare REIT II Inc. plans to acquire a variety of medical properties, not just medical office buildings (MOBs). The non-traded real estate investment trust (REIT), which had its start […]
News & Analysis: Lillibridge’s final recap
SALE TO VENTAS WILL PROVIDE GROWTH CAPITAL By John Mugford The pending $300 million to $400 million sale of Lillibridge Healthcare Services Inc. and its vast medical office building (MOB) portfolio to publicly traded Ventas Inc. (NYSE: VTR) made quite a splash in various news outlets in the days following the big announcement. Should the […]
Industry Pulse: June 2010
PRINCETON, N.J. – When hospitals and health systems build shiny new replacement facilities, there’s always a question of what to do with the old, left-behind buildings. Princeton HealthCare System, the parent of University Medical Center of Princeton, is currently going through this process – for a second time. As work continues on its future $442 […]
Editor’s Letter: Window on the market
BEEFY TRANSACTIONS SECTION IS A GOOD SIGN By John B. Mugford Dear Reader: I hope you get a chance to check out our “Transactions” section in this edition of Healthcare Real Estate Insights™. I really feel that the items listed in that section provide a small window into what’s taking place in the medical office […]
Q&A: Grubb & Ellis REIT II off to active start
DANNY PROSKY IS PRESIDENT AND COO OF GRUBB’S SECOND HEALTHCARE TRUST By John Mugford It usually takes some time for a newly formed real estate investment trust (REIT) to get rolling. Back in 2006, for example, it took four months for the fledgling NNN Healthcare/Office REIT to break impounds – in other words, to raise […]
Transactions: ProMed makes foray into D.C. area
DEMAND WAS HIGH FOR VIRGINIA SQUARE PLAZA, WHICH SOLD FOR $20.6 MILLION By John Mugford Interest from potential buyers was quite intense for Virginia Square Plaza, a two-building medical office and general office building campus that had been put up for sale in the Rosslyn-Ballston Corridor in Arlington, Va. In fact, according to Jim […]
Industry Pulse: May 2010
HOUSTON – As the population ages, it only makes sense for healthcare providers to cater services to the aging demographic. Memorial Hermann Southwest Hospital in Houston is doing just that, as it recently opened the first emergency department in Texas geared for seniors. The Senior Emergency Center, which has its own waiting room, is located […]
Transactions: HTA buying MOB near Pittsburgh CBD
REIT AGREES TO PAY $40.65 MILLION FOR FOUR-STORY, 191,612 S.F. FACILITY By John Mugford Officers with Scottsdale, Ariz.-based Healthcare Trust of America Inc. (HTA), a privately held real estate investment trust (REIT) that has been on quite a buying spree in the last six months, say their company is not confined to buying medical office […]
Provider Profile: Vanguard bets on Detroit
$1.27 BILLION DEAL WOULD BE FIRM’S BIGGEST YET By Dan Emerson For decades, the city of Detroit has been a poster child for post-industrial, urban decay. With the U.S. auto industry in slow, steady decline, the Motor City has lost roughly half of its population since its peak of 1.8 million some 60 years ago. […]
Industry Pulse: April 2010
CINCINNATI, Ohio – For quite some time, people involved in healthcare and healthcare real estate have been hearing that retail medical clinics will someday have a huge impact on the industry. One of the up-and-coming retail medical clinic companies of recent years has been Brentwood, Tenn.-based Little Clinic, which has expanded rapidly since being formed […]
Transactions: NHP, PMB proceed with $211M deal
PUBLICLY TRADED REIT ACQUIRES INTEREST IN FIVE SOUTHERN CALIFORNIA MOBs By John Mugford Back in 2008, publicly traded real estate investment trust (REIT) Nationwide Health Properties Inc. (NYSE: NHP) and San Diego-based Pacific Medical Buildings struck a deal so large that it garnered national headlines. After all, the multi-year deal called for NHP to acquire […]
News & Analysis: HCN diversifies into bio
HEALTH CARE REIT BUYS INTO LIFE SCIENCES PARK By John Mugford Health Care REIT Inc. (NYSE: HCN) has become the latest healthcare real estate investment trust (REIT) to make a major play in the life sciences sector, taking an ownership interest in what many consider to be the nation’s premier biopark. The Toledo, Ohio-based REIT […]