News & Analysis: REIT nabs $161.6M deal
SELLER IS AA-RATED SOUTH CAROLINA SYSTEM By John Mugford Finally, a headliner of a transaction in the medical office building (MOB) market. In what should prove to be one of the biggest – if not the biggest – MOB transactions of 2009, Grubb & Ellis Healthcare REIT Inc. announced July 15 that it has agreed […]
Industry Pulse: August 2009
DALLAS – Good news for folks in Dallas. Not only are they getting delivery of a spanking new Parkland Hospital in 2014, but they’re going to pay less in taxes for it. That’s because the public health system that owns and operates the massive hospital recently received AAA credit ratings from both Fitch and Standard […]
Special Report: Equity providers tell BOMA their story
MOB CONFERENCE PANELISTS DISCUSS WHAT INVESTORS ARE LOOKING FOR NOW By John Mugford When it comes to doing healthcare real estate deals in the current market, everyone seems to utter the mantra that “cash is king.” There’s also a notion that equity funding is available for the right deals, at the right price and with […]
Transactions: Sanders Trust buys large MOB in Indy
145,000 SQUARE FOOT METHODIST PROFESSIONAL CENTER 2 IS FULLY OCCUPIED By John Mugford Birmingham, Ala.-based Sanders Trust in June acquired the 145,000 square foot, 100 percent occupied Methodist Professional Center 2 (MPC2) in Indianapolis. The five-story medical office building (MOB) is on the massive campus of the 802-bed Methodist Hospital, which is the state’s largest […]
Companies: Firm launches $40M fund
MED REAL ESTATE STILL STRONG, OMAN-GIBSON SAYS By John Mugford A combination of the current economic conditions and tight lending market, as well as the relative strength of healthcare real estate, has prompted a national development firm to start a fund that could see investments totaling up to $90 million in medical office buildings (MOBs) […]
News & Analysis: New debt, new equity
LILLIBRIDGE GETS $250M REFI, PLUS $30M FROM PRU By John Mugford For many commercial property owners and developers – including those involved in healthcare real estate – the recession has put them in quite a financial pinch. They face difficulties in refinancing mortgages when debt maturities come due, and in trying to raise capital to […]
Industry Pulse: July 2009
CHICAGO – Despite signs that healthcare real estate is showing signs of fatigue in the current economy, there are still plenty of folks in the industry who say that now and in the somewhat near future is not that bad of a time to be a service provider or investor in the medical office space […]
Transactions: Knoxville MOB part of two-asset sale
PARKSIDE PLAZA REPORTEDLY SOLD FOR $267 PSF TO LLC THAT INCLUDES A TIC Staff Reports Earlier this year, the two-building Parkside Plaza at Turkey Creek office complex in a suburb of Knoxville, Tenn., was sold in a deal valued at more than $40 million, according to a recent news release from NAI Knoxville. The brokerage […]
Special Report: Proceed with caution
WHAT CONSTITUTES A ‘GOOD’ DEAL IN THIS MARKET? By Murray W. Wolf In this difficult economy, deal-hungry healthcare real estate developers and investors might be tempted to consider just about any opportunity that comes down the pike. But that makes it all the more important for them to remain objective and disciplined, and to temper […]
Industry Pulse: June 2009
SAN FRANCISCO – Healthcare Real Estate Insights™ recently had an interesting conversation with the president of the New Century Healthcare Institute, which is based in San Francisco. Wanda Jones, often referred to as a healthcare futurist, is currently advocating a plan for rebuilding the state’s healthcare facilities that goes against the current conventional wisdom. As […]
News & Analysis: $154M Baylor deal done
NOW DUKE SEEKS JV FOR ANOTHER 1.9 MILLION SF By John Mugford Now that Duke Realty Corp. (NYSE: DRE) has found an equity partner for its massive Baylor Cancer Center project, the firm is seeking a joint venture (JV) investor for 19 additional healthcare properties totaling more than 1.9 million square feet. That’s according to […]
Industry Pulse: May 2009
SILICON VALLEY, Calif. – Silicon Valley has long been known as a hotbed of high-tech. Now it is looked upon as a place where hospital beds are being built despite the recession. A recent study by the California Hospital Association indicates that 41 percent of the state’s hospitals have halted construction projects or major equipment […]
Sunrise avoids bankruptcy – for now
SENIOR LIVING FIRM BUYS TIME TO STRUCTURE NEW LONG-TERM FINANCING DEAL By Murray W. Wolf When a market leader like General Motors Corp. (NYSE: GM) teeters on the edge of bankruptcy, it stokes concerns about the entire automotive industry. The same might be said of the senior living business, where bankruptcy could loom for the […]
Transactions: San Antonio MOB trades for $13.7M
NEW YORK-BASED REAL ESTATE ENTITY BUYS STONETERRA MEDICAL PLAZA By John Mugford Because potential buyers of medical office buildings (MOBs) have become more selective about their transactions in the current economy, some properties are sitting on the selling block a bit longer than they would have just a year or so ago. But eventually, professionals […]
News & Analysis: G&E REIT plans changes
NEW NAME AND $2.2 BILLION IN NEW EQUITY PLANNED By John Mugford One thing has been quite constant at Grubb & Ellis Healthcare REIT since it was established back in 2006, when it was known as NNN Healthcare/Office REIT: an aggressive appetite for acquiring medical office buildings (MOBs). This appetite for MOBs and other healthcare […]