Industry Pulse: April 2009
MANASSAS, Va. – When members of the Healthcare Real Estate Insights™ Editorial Advisory Board met last November in Dallas to discuss the industry, they were asked to make a few predictions about future trends in both healthcare and healthcare real estate. One prediction to emerge from the conversation – initiated by Todd Lillibridge, the CEO […]
Transactions: Lillibridge, Grubb & Ellis acquire MOBs
LILLIBRIDGE ACQUIRES ILLINOIS PORTFOLIO; GRUBB PURCHASES WISCONSIN MOBs By John Mugford Medical office building (MOB) sales have fallen dramatically because of the recession and tight credit market. Yet at least two firms have continued to make MOB acquisitions in recent months in unrelated transactions. They are Chicago-based Lillibridge and Santa Ana, Calif.-based Grubb & Ellis […]
Industry Pulse: March 2009
WASHINGTON – As we all know by now, healthcare is not recession-proof. However, it was one of the few sectors to add jobs in 2008, as an estimated 371,600 healthcare jobs were added last year, according to the U.S. Bureau of Labor Statistics. In December 2008, as the rest of the economy was shedding jobs, […]
Companies: Seavest obtains $11M in MOB financing
PROJECT WILL BE FIFTH DEVELOPMENT FIRM HAS DONE FOR FLORIDA HOSPITAL Staff Reports At a time when the capital market is extremely tight, White Plains-based Seavest Inc. recently secured an $11 million construction loan for a 60,000 square foot medical office building (MOB) in Orlando, Fla.. The Surgical Medical Plaza MOB is under construction on […]
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 […]