Industry Pulse (June 2006)
Industry Pulse CLEVELAND — Cleveland Clinic recently launched an ambitious five-year, $1.25 billion fundraising campaign to generate major financial support for the provider in four major areas. The clinic is seeking $440 million to support a capital improvements campus master plan, $300 million to support clinical and basic research, $275 million for medical and patient […]
News and Analysis (May 2006)
New player makes jump to MOBs MONTECITO, KNOWN FOR RESIDENTIAL CONDOS, ACQUIRES 14 BUILDINGS By John Mugford Jacksonville, Fla.-based Montecito Property Co. LLC has become quite a significant player in the residential condo-conversion industry, in which it buys multifamily properties and turns them into upscale condominiums. “Significant” could be considered an understatement, as the […]
Industry Pulse (May 2006)
CHICAGO – Children’s Memorial Hospital of Chicago recently announced plans for a $750 million, 275-bed replacement hospital at a new location. Plans call for construction of the new hospital in downtown Chicago at a site near Northwestern Memorial Hospital. The provider’s current campus on the city’s north side is slated for sale to developers. Construction […]
Industry Pulse (April 2006)
INDEPENDENCE TOWNSHIP, Mich. – Providers have big plans for an area along Interstate 75 in northern Oakland County, about halfway between Detroit and Flint. Flint-based McLaren Health Care Corp. has proposed a $600 million medical care village on 80 to 90 acres. The first phase would include a medical office building (MOB) of up […]
News & Analysis: Cogdell Spencer (March 2006)
REIT is interested in Indy COGDELL ENTERS NEW MARKET WITH $39.9 MILLION BUY By Murray W. Wolf Cogdell Spencer Inc.’s acquisition last month of Methodist Professional Center One, an Indianapolis medical office building (MOB), was notable for several reasons: ▪ It was the first acquisition by Cogdell Spencer (NYSE: CSA) since the Charlotte, […]
Transactions: Atlanta MOB deal (March 2006)
RREEF acquires MOB for $61.3 million NEW DETAILS EMERGE IN RECENT ACQUISITION OF DOCTORS CENTER FOUR IN ATLANTA By Murray W. Wolf Newly obtained information reveals that RREEF North America paid $61.283 million, nearly $294 per square foot, for its recent acquisition of an Atlanta medical office building (MOB). As reported in last […]
Industry Pulse (March 2006)
NEW YORK – Another major institutional player with large sums of capital intends to start investing in medical office buildings (MOBs). The latest entry is JPMorgan Investment Management Inc., which could invest up to $125 million in MOBs. The news was heard during a conference last month in New York, where Granite Partners LLC hosted, […]
Industry Pulse (Febuary 2006)
CLEVELAND – The board of directors of University Hospitals Health System (UHHS) in mid-January unanimously approved core elements a vast new strategic plan, called Vision 2010. The plan calls for investments of more than $1 billion, including significant upgrades to the University Hospitals of Cleveland (UHC) campus, new facilities and considerable expansions at several of […]
News & Analysis: Page 1 (Febuary 2006)
Health has allure for Fluor HUGE FIRM OPENS NASHVILLE OFFICE WITH FORMER HCA EXECS By John Mugford New entrants seem to be jumping into the red-hot healthcare real estate market almost daily. But, when a Fortune 500 firm launches a healthcare division with four former HCA Inc. executives in a Nashville, Tenn., office – […]
Company Profile: Fluor Healthcare (Febuary 2006)
Health has allure for Fluor HUGE FIRM ENTERS THE MARKET WITH EX-HCA EXECS By John Mugford New entrants seem to be jumping into the red-hot healthcare real estate market almost daily. But, when a Fortune 500 firm launches a healthcare division with four former HCA Inc. executives in a Nashville, Tenn., office – now […]
Industry Pulse (January 2006)
ATLANTA – A replacement hospital plays a significant part in a $3 billion capital improvements master plan at Emory University in Atlanta. As part of the plan, a 700-bed replacement hospital for the Emory Hospital and Clinic would be built across the road from its current location, and would be clustered with medical research and […]
Companies & People (January 2006)
COMPANIES A joint venture of Paric Corp. and Barton Malow Co. is building the $75 million, five-story, 180,000 square foot, 72-bed Progress West HealthCare Center on 48 acres in O’Fallon, Mo. St. Louis-based Paric and Southfield, Mich.-based Barton Malow say the project will be completed next year. St. Louis-based HOK is the project architect… Minneapolis-based […]
Financing & Investment (January 2006)
Beverly Enterprises Inc. (NYSE: BEV) of Fort Smith, Ark., announced Nov. 21 that financing commitments related to its previously reported merger process had been fulfilled, including receipt of a $350 million equity commitment and a $50 million letter of credit. The company has entered into an amended merger agreement at a revised all-cash price of $12.50 per share. Under the amended agreement, Fillmore Strategic Investors LLC, an affiliate of Fillmore Capital Partners – a private equity firm focused on investments principally in the lodging and healthcare sectors – will replace North American Senior Care (NASC) and its affiliates as the acquiring entity.
Transactions: Demand for MOBs remains sky high
MEDICAL OFFICE BUILDING PRICES KEEP RISING AND CAP RATES KEEP FALLING By John Mugford Statistics concerning nationwide sales of medical office buildings (MOBs) continue to tell a compelling and, for that matter, somewhat incredible story. In a nutshell, the story goes like this: More and more investors are looking to acquire MOBs, finding available product […]
Industry Pulse: December 2005
LEXINGTON, Ky. – UK Medical Center at the University of Kentucky recently received approval from the university’s board of trustees for a $450 million expansion project that includes a 473-bed replacement hospital and a new parking garage. The new garage is the first phase of the project and is targeted for completion in March 2007. […]