News & Analysis: Big windfall for Windrose
REIT IS COMPLETING $241 MILLION, 22-ASSET DEAL By John Mugford Windrose Medical Properties Trust (NYSE: WRS), an Indianapolis-based, publicly traded and self-managed healthcare real estate investment trust (REIT), has a stated goal of acquiring about $100 million worth of medical office buildings (MOBs) annually. The company smashed that figure in one fell swoop last month […]
News & Analysis: New Orleans might never be the same
OTHER 2005 HURRICANES CAN’T RIVAL THE LONGTERM IMPACT OF KATRINA By John Mugford Katrina, Rita, Wilma… it looks as if 2005 will go down as yet another Year of the Hurricane. Lest we all forget that just a year ago, in 2004, four major hurricanes crashed into Florida and caused millions of dollars worth of […]
News & Analysis: Going the REIT route
MEDICAL DEVELOPERS DIFFER ON IPO STRATEGY By Murray W. Wolf The recent news that another longtime medical real estate firm – Cogdell Spencer Inc. – has transformed itself into a healthcare real estate investment trust (REIT) and gone public begs the question: Is that a good strategy? It depends who you talk with. Some veteran […]
Industry Pulse: November 2005
INDIANAPOLIS – As this edition of Healthcare Real Estate Insights™ was about to go to press, we learned that Windrose Medical Properties Trust (NYSE: WRS) has agreed to acquire 22 properties for a total of about $241 million. The sellers are various limited partnerships associated with medical real estate developer Bruce A. Rendina and Rendina […]
News & Analysis: Novant to sell $100 million+ portfolio
MEANWHILE, BAPTIST DEAL IS NEARLY DONE; COULD FETCH ALMOST $60 MILLION By Murray W. Wolf Novant Health Inc. of Winston-Salem, N.C., plans to sell seven medical office buildings (MOBs) totaling more than 700,000 square feet, a portfolio that will probably fetch more than $100 million. That’s according to a principal with the investment bank that […]
News & Analysis: Katrina’s consequences
FATE STILL FOGGY FOR GULF COAST MED FACILITIES By John Mugford Hurricane Katrina struck more than a month ago. Yet, the future of many affected healthcare facilities – and the implications for the Gulf Coast medical real estate market – remain difficult to forecast. The massive hurricane’s eye made landfall near New Orleans on Aug. […]
Industry Pulse: October 2005
SPRINGFIELD, Ohio – Community Mercy Healthcare Partners has reached an agreement with local officials on a 45-acre site for a $280 million healthcare campus that the provider plans to build in this west-central Ohio city. The new hospital would be the result of a merger between two long-time Springfield providers: Springfield Community Hospital and Mercy […]
News & Analysis: Inland Empire is attracting investment
CALIFORNIA REGION HAS NEARLY $2 BILLION IN MEDICAL PROJECTS IN THE WORKS By Brian Busek When one looks for the big action in medical real estate in California, the gaze typically runs along the coast line from the San Francisco Bay down to Los Angeles and into San Diego. Travel east from the salt spray, […]
News & Analysis: MOBs are hot properties
PRICES AND VELOCITY BOTH CONTINUE TO INCREASE By John Mugford There’s a rumbling in the tummies of many institutional investors these days, with one of their major cravings being medical office buildings (MOBs). And it doesn’t look as if these appetites will ease anytime soon. That’s the word – not in those exact terms, of […]
Industry Pulse: September 2005
SAN FRANCISCO – California Pacific Medical Center (CPMC) officials have finally outlined plans for a $1 billion medical center in San Francisco’s Cathedral Hill neighborhood. The long-awaited plan includes up to 600 new seismic safety law-compliant hospital beds, plus a $210 million medical office building (MOB). Officials of the Sutter Health affiliate say they plan […]
News & Analysis: Minnesota hospital plans still in limbo
LEGISLATURE ADJOURNS WITHOUT DECISION ON FIRST NEW BEDS IN 21 YEARS By John Mugford The good news coming out of Minnesota in mid-July was that the state Legislature mercifully concluded a bitter stalemate and reached agreement on a $30 billion budget. As a result, lawmakers ended a weeklong state government shutdown and adjourned for the […]
Publisher’s Letter: Thanks for the feedback
READER SURVEY COMMENTS WILL HELP US IMPROVE By Murray W Wolf Dear Reader: At the risk of blowing our own horn, I am delighted to report that nearly 94 percent of the respondents to our recent reader survey gave Healthcare Real Estate Insights™ an overall rating of “excellent” (67 percent) or “good” (28 percent). Many […]
News & Analysis: HCN expects asset sales
REIT’S THREE-YEAR BUYING BINGE COULD BE OVER By Jessica Griffith Health Care REIT Inc. added 25 skilled nursing facilities and five specialty care centers to its investment portfolio during the second quarter. But, the company does not plan to purchase a significant number of buildings during the second half of 2005. “We could end up […]
Industry Pulse: August 2005
MILWAUKEE, Wis. – New details have emerged in Columbia St. Mary’s plan to consolidate two Milwaukee medical campuses. Plans call for a new $417 million, 513-bed replacement hospital to be called Columbia St. Mary’s Lake Drive Hospital. It will be built at the site of the current Columbia St. Mary’s Milwaukee Campus. The existing 237-bed […]
News & Analysis: Pacific closes the book on CHW deal
FIRM ACQUIRES THE LAST SIX PROPERTIES THAT WERE PART OF 2003 AGREEMENT By John Mugford Pacific Medical Buildings (PMB) has closed the book on its 2003 deal to acquire more than 1 million square feet of medical office space from Catholic Healthcare West (CHW) with the acquisition of six more buildings. The San Diego-based medical […]