Transactions: Lillibridge buys two Ascension MOBs
BUILDINGS ARE ON THE CAMPUS OF PROVIDENCE HOSPITAL IN WASHINGTON, D.C. By John Mugford Healthcare real estate firm Lillibridge recently acquired two medical office buildings (MOBs) with a total of 101,000 square feet of space on the campus of Providence Hospital in Washington, D.C. The transaction is Lillibridge’s eighth in the past decade or so […]
Industry Pulse: February 2009
CLARKSBURG, Md. – Rockville, Md.-based Adventist HealthCare in early February filed a Certificate of Need (CON) application with the Maryland Health Care Commission to build a new 60-acre hospital campus in Clarksburg, about an hour east of Baltimore. The hospital is slated for a fast-growing area of upper Montgomery County. Plans call for the construction […]
Transactions: Grubb & Ellis takes $25.5M portfolio
HEALTHCARE REIT BUYS 10 MOBs IN ONE DEAL, PLUS MORE IN GEORGIA AND TEXAS By John Mugford Perhaps Grubb & Ellis Health-care REIT Inc. can help revive the slumping medical office building (MOB) acquisition market. At a time when MOB acquisition news is sparse, the privately operated Santa Ana, Calif.-based healthcare real estate investment trust […]
Industry Pulse: January 2009
ORLANDO, Fla. – How in the world would one go about investing in medical office buildings (MOBs) in, perhaps, Europe, or Australia? Well, Orlando, Fla.-based CNL Financial Group and Sydney, Australia-based Macquarie Group Ltd. recently announced they are partnering up to establish a massive real estate investment trust (REIT) to pursue real estate opportunities around […]
Editor’s Letter: An even closer look
LESS NEWS MEANS MORE IN-DEPTH COVERAGE John B. Mugford Dear Reader: For the past several years, the amount news briefs we’ve included in the pages of Healthcare Real Estate Insights™ has been so great that at times it was difficult to print them all. These news items included medical office building (MOB) transactions, outpatient and […]
Transactions: Oaks Development Group buys MOB
NORTH CAROLINA-BASED FIRM ADDS 35,000 SF SAN ANTONIO ASSET TO PORTFOLIO Staff Reports The Texas office of Cary, N.C.-based Oaks Development Group recently closed on the purchase of the new Shavano Oaks II, a 35,000 square foot medical office building in north central San Antonio. Construction of the medical facility was completed in October, with […]
Industry Pulse: December 2008
CALIFORNIA – Talk about controversy. California’s healthcare receiver for the state’s prison system, J. Clark Kelso, has devised a plan to build seven new prison hospitals with a total of 10,000 beds. The plan to build the newer and better hospitals for inmates came in response to a judge’s ruling that the healthcare provided by […]
Transactions: Noyack buys NYC MOB condo for $675 PSF
CEO SAYS FIRM IS STILL SEARCHING FOR, AND BUYING, MEDICAL OFFICE ASSETS By John Mugford Twelve to eighteen months ago, a medical office building (MOB) transaction usually needed to total $20 million or more to make it into the pages of this Transactions section of Healthcare Real Estate Insights™. We simply didn’t have space to […]
News & Analysis: Carolinas to sell 15 MOBs
HR TRUST AGREES TO BUY PORTFOLIO FOR $162M By John Mugford There’s an interesting, potential silver lining type of irony taking place in healthcare real estate right now. At a time when the volume of medical office building (MOB) transactions is taking a hit because of the economic slowdown and tight capital markets (please see […]
Industry Pulse: November 2008
CALIFORNIA – On Nov. 4, voters across the country chose Barack Obama as their next president, and in California voters approved Proposition 3, a huge measure that will provide $980 million for capital improvements at children’s hospitals across the state. The measure provides funding for construction projects, expansions and renovations at eight not-for-profit children’s hospitals […]
Industry Pulse (October 2008)
ATLANTA – Even though Piedmont Healthcare of Atlanta has been wracking up plenty of capital building projects and hospital acquisitions in recent years, the system recently announced that it is launching an even more expansive growth plan. The system revealed in September that it plans to spend $525 million over five years to build new […]
Transactions: Grubb & Ellis buys two MOB portfolios
HEALTHCARE REIT ACQUIRES SEVEN MEDICAL OFFICE ASSETS FOR $77 MILLION By John Mugford During a time when medical office building (MOB) sales are slowing because of the current commercial credit crunch, Santa Ana, Calif.-based Grubb & Ellis Healthcare REIT acquired two MOB portfolios in September with a total of about 404,000 square feet of space. […]
Transaction (September 2008)
Baptist buys land for hospital in ‘Bama HEALTH SYSTEM PROPOSING 140-BED HOSPITAL IN HOOVER, NEAR BIRMINGHAM By John Mugford Like putting together a puzzle, Birmingham, Ala.-based Baptist Health system recently completed its third and final land acquisition needed to build its proposed 140-bed hospital in Hoover, Ala., a town of about 70,000 people. Baptist paid […]
Publisher’s Letter (September 2008)
Seeking transparency NIC SPEAKER’S CHALLENGE SEEMED FAMILIAR Dear Reader: Earlier this month, I attended the annual conference presented by the National Investment Center for the Seniors Housing & Care Industry (NIC) in Chicago. One of my biggest “gee whiz” moments was during the keynote speech by real estate consultant Peter D. Linneman, a professor of […]
News & Analysis: Cogdell Spencer JV
Cogdell ready to roll $350M JV FORMED WITH NORTHWESTERN MUTUAL By John Mugford For Charlotte, N.C.-based Cogdell Spencer Inc., the idea behind acquiring the country’s largest healthcare design/build firm earlier this year was to fuel growth by offering additional services to clients and expanding its platform nationwide. It was in March when publicly traded Cogdell […]