News Release: Cleveland Clinic and Akron General Sign Letter of Intent
Agreement Would Make Cleveland Clinic a Minority Owner of Akron General Monday, June 9, 2014, Akron, Ohio: Cleveland Clinic and Akron General Health System have signed a Letter of Intent (LOI) to enter into an arrangement in which Cleveland Clinic will invest in and become a minority owner of Akron General Health System, making Akron […]
News Release: HFF arranges construction financing for development of Victory Medical Center in Fort Worth, Texas
DALLAS, TX – HFF announced today that it has arranged construction financing for the development of Victory Medical Center, a 104,971-square-foot, surgical hospital in Fort Worth, Texas. HFF worked on behalf of the borrower, a joint venture between Harrison Street Real Estate Capital, LLC, Pisula Development Company, Victory Healthcare and a physician-ownership group, to secure […]
News Release: Alternivest Healthcare Purchases 30 Acres in New Braunfels for Mixed-Use Medical Development
SAN ANTONIO (June 4, 2014) – CBRE represents San Antonio-based Alternivest Healthcare in the purchase of approximately 30 acres in New Braunfels, Texas. The site will be master-developed as an age-in-place destination, with plans to include a medical office building, skilled nursing facility, and assisted living/memory care. The medical office building will be known as […]
News Release: $22,650,000 Disposition of a Four-Building, 111,175 Square Foot Medical Office Portfolio Located in Southwest Florida
Transaction Overview Healthcare Real Estate Capital (“HRE Capital”), as exclusive financial advisor to AW Property Co. (“AW”), is pleased to announce the disposition of a four-building, 111,175 square foot medical office building portfolio (“Portfolio”). Located in Southwest Florida, the 98 percent occupied Portfolio included multi-tenant and master leased medical office buildings and an ambulatory surgery […]
News Release: CHP Acquisition – Houston Orthopedic & Spine Hospital Campus
CNL Healthcare Properties, Inc. is pleased to announce their acquisition of the Houston Orthopedic & Spine Hospital Campus located in Houston, Texas for $76,000,000. The HOSH campus consists of a 126,946 square foot specialty hospital and a 99,768 square foot medical office building. Lincoln Harris will provide leasing and management services for the campus. GE […]
News Release: Flagship Healthcare Real Estate Fund Partners with Drake Real Estate Partners to Acquire Freestanding Emergency Department & Medical Office Building in Fredericksburg, VA
May 29, 2014 Fredericksburg, VA – Flagship Healthcare Real Estate Fund and Drake Real Estate Partners have acquired The Professional Plaza at Lee’s Hill, a 71,000 square foot freestanding emergency department and medical office building located at 10401 Spotsylvania Avenue in Fredericksburg, Virginia. This modern facility is the seventh acquisition for the Flagship Healthcare Real […]
News Release: Caddis Partners names Jason Hinkel as Regional Director of Development
Based in Atlanta, the 25-year industry veteran is responsible for growing development activity in the Southeast Region for the Dallas-based healthcare real estate firm ATLANTA and DALLAS, May 28, 2014 – Leading national healthcare real estate firm Caddis Partners LLC has named industry veteran Jason Hinkel as Regional Director of Development. Mr. Hinkel’s role will […]
Cover Story: Should systems monetize hospitals?
Selling MOBs is common, BOMA panel notes, but what about inpatient buildings? By John B. Mugford In healthcare real estate (HRE), there’s an untapped gold mine of properties awaiting investors who can figure out how to obtain them: acute care hospitals. Therein lies the difficulty, however, as the holders of more than 85 percent of […]
Transactions: DOC REIT acquires two LTACH facilities from major operator LifeCare
MILWAUKEE – Milwaukee-based Physicians Realty Trust (Nasdaq: DOC) recently acquired the real estate of two LifeCare Hospitals in the Pittsburgh and Fort Worth, Texas, areas. The healthcare-focused REIT, which previously acquired a LifeCare facility in Plano, Texas, paid $40 million for the two long-term acute care hospitals (LTACHs). Upon selling the LTACHs, Plano-based LifeCare Family […]
Transactions: Montecito, Oak Street joint venture acquires buildings in Maine
AUGUSTA, Maine – A joint venture (JV) of Nashville, Tenn.-based Montecito Medical and Chicago-based Oak Street Real Estate Capital LLC recently acquired two MOBs in Augusta that house doctors with MaineGeneral Health System. While Montecito did not disclose the price the JV paid for the facilities, reports indicate that it acquired one of the buildings, […]
Transactions: CNL making move into inpatient rehabilitation by purchasing five facilities
ORLANDO, Fla. – CNL Healthcare Properties’ first endeavor into owning inpatient rehabilitation facilities (IRFs) is certainly going to be a significant one. On May 13, the non-traded real estate investment trust (REIT) entered into purchase agreements to acquire three post-acute care rehabilitation hospitals for a total of $68 million in Oklahoma, Nevada and Indiana. The […]
Transactions: 2014 MOB sales off to a record start
By John B. Mugford After a record-setting year and fourth quarter (Q4) of 2013 for medical office building (MOB) sales, a letdown was certainly in the works to kick off 2014. And sure enough, the total MOB sales volume for Q1 fell 37 percent from the previous quarter, Q4 2013. But that doesn’t mean Q1 […]
Transactions: Texas Center for Athletes trades
Competitive bidding fetches $32.7M for San Antonio sports medicine complex By John B. Mugford With portfolios of medical office buildings (MOBs) seemingly in short supply, it was not surprising that significant interest was shown by a number of investors interested in a large medical facility in San Antonio’s 900-acre South Texas Medical Center complex. When […]
Transactions: Another buy for PRT
In more news from Physicians Realty Trust, the publicly traded REIT closed in April on the acquisition of the South Bend Orthopaedics facility at 14026 to 14134 Jackson Road in Mishawaka, Ind. The REIT paid $14.9 million for the two-story, 45,200 square foot facility, for a price per square foot (PSF) of $330, according to […]
