Transactions: Health Care REIT finds $200M deal
Firm acquires four-MOB portfolio in Southern California for more than $500 PSF By John B. Mugford The country’s second largest owner of healthcare real estate (HRE), Toledo, Ohio-based Health Care REIT (NYSE: HCN) recently found a deal to its liking in Southern California, picking up a portfolio of four healthcare properties with five facilities for […]
Transactions: CNL to land portfolio for $238 million
REIT agrees to buy 13 MOBs from pioneering MOB developer Meadows & Ohly By John B. Mugford One of the Southeast’s most prolific medical office building (MOB) developers during the past four decades will soon cash in on the market’s historically high pricing. Atlanta-based Meadows & Ohly LLC, which has developed more than 60 MOBs […]
Transactions: The Broe Group buys troubled D.C.-area office, plans to convert it to MOB
ROCKVILLE, Md. – Denver-based the Broe Group recently paid $16 million for a 120,000 square foot general office building in Rockville, Md., that it intends to convert to an MOB. The company has renamed the facility the Shady Grove Medical Pavilion, which is listed by RCA as a “troubled situation” property, as it has an […]
Transactions: Q2 MOB sales pick up the pace
Quarter saw $1.69 billion in volume, making the first half of 2014 a record-setter By John B. Mugford Sales of medical office buildings (MOBs) in the first half of 2014 showed no signs of slowing down, as the volume actually topped that of the first-half of a record-setting 2013. For the second quarter (Q2) of […]
Transactions: ProMed sells facilities for $205M
Israel-based subsidiary sells large building to HCP Inc., 5 MOBs to HTA By John B. Mugford It looks as if Scottsdale, Ariz.-based Healthcare Trust of America Inc. (NYSE: HTA) landed even more of a gem from New York-based ProMed Properties Inc. than reported in June. A couple of months after ProMed sold a six-building medical […]
Transactions: New hospital owner acquires MOB across the street in Downey, Calif.
DOWNEY, Calif. – On the heels of acquiring the former Downey Regional Medical Center, PIH Health recently purchased an MOB across the street from what is now known as PIH Health Hospital–Downey. The not-for-profit health system, which was founded in 1959 and is based in Whittier, Calif., paid $11.3 million for the 56,121 square foot […]
Transactions: ARC Healthcare Trust II continues to make buys, nears closing of offering
NEW YORK – Like its predecessor with a very similar name, ARC Healthcare Trust II Inc. is off to a fast start in the healthcare real estate (HRE) sector. So fast, in fact, that the non-traded real estate investment trust (REIT) is already nearing the possible closing of its public stock offering, which began in […]
Transactions: DOC REIT keeps on making buys
Recent acquisitions push Physicians Realty Trust’s portfolio above $500 million By John B. Mugford At the time of its initial public offering a year ago this month, Milwaukee-based Physicians Realty Trust (NYSE: DOC) owned a portfolio of medical properties with a total purchase-price value of about $124 million.
Transactions: ARC Healthcare Trust II lands two Florida MOBs for a total of $22.6 million
CLEARWATER, VENICE, Fla. – ARC Healthcare Trust II, a 1-year-old unlisted REIT, continued to build its portfolio in May with the acquisition of four Gulf Coast-area MOBs from a well-known Florida real estate firm.
Transactions: Firm focused on corporate real estate purchases three Chicago-area MOBs
BERWYN, Ill. – As the country’s health systems face daunting expenses and myriad new challenges in the era of healthcare reform, they are being encouraged by many HRE professionals to adopt a more corporate mentality when it comes to occupying real estate.
Transactions: HTA grabs MOBs along East Coast
By John B. Mugford Portfolios are the rare gems in today’s healthcare real estate (HRE) investment arena, where available, attractive medical office buildings (MOBs) remain in short supply compared to the amount of capital that would-be buyers desperately want to place.
Transactions: Flagship-Drake joint venture acquires FED and MOB in Virginia for $19.55 million
FREDERICKSBURG, Va. – A joint venture composed of an investment fund operated by Charlotte, N.C.-based Brackett Flagship Properties and New York-based Drake Real Estate Partners recently acquired a health system’s key off-campus property in Fredericksburg, about 45 miles south of Washington, D.C.
Transactions: More HRE Transactions
Crossroads Development Partners LLC of Schaumburg, Ill., recently led a venture to acquire a two-building, 53,000 square foot, Class B MOB asset in Hoffman Estates, Ill., for $1.2 million, or about $23 PSF. The Medcoa Professional Complex at 990 to 1000 Grand Canyon Parkway was acquired from an affiliate of Boston-based Admirals Bank, which took […]
Hot Property: Ortho group monetizing portfolio
Two facilities comprise portfolio to be net leased to Arlington, Texas, group Name: Arlington Orthopedic Portfolio Cities: Arlington and Mansfield, Texas Number of buildings: 2 Total square footage: 49,660 Occupancy: 100% Tenant: Arlington Orthopedic Associates Seller: Arlington Orthopedic Associates Brokers: Daniel Turley, Mindy Berman and Steven Leathers, Jones Lang LaSalle
Transactions: CNL buys Houston assets from HCN
CNL’s $76 million Houston Orthopedic & Spine Hospital campus acquisition includes a four-story, 126,946 square foot single-tenant specialty surgical hospital and a four-story, 99,768 square foot, multi-tenant, Class A MOB. Photos courtesy of Colliers International Firm acquires specialty hospital, medical office for $76M from Health Care REIT By John B. Mugford Orlando, Fla.-based CNL Healthcare […]
