Transactions: IRA Realty Capital buys MOB in Dallas
FIRM PAYS $25.5 MILLION FOR 85,879 SQ. FT. EYE INSTITUTE OF TEXAS BUILDING By John Mugford A joint venture led by Newport Beach, Calif.-based IRA Realty Capital has acquired an 85,879 square foot MOB in Dallas for $25.5 million, or $297 PSF. The property, known as The Eye Institute of Texas, was 81 percent leased […]
Transactions: Griffin-American buys MOBs for $52M
IN JUST TWO YEARS SINCE INCEPTION, REIT’S TOTAL PORTFOLIO HITS $715 MILLION By John Mugford. Griffin-American Healthcare REIT II went on a bit of a buying spree in recent weeks, making three separate acquisitions with five medical office buildings (MOBs) for a total price of $52.5 million. The transactions closed in the first quarter (Q1). […]
Provider Perspective: Provider panel tackles tough topics
REIMBURSEMENTS, INDUSTRY M&As, MOBs AND THE ENDLESS NEED FOR CAPITAL By Murray W. Wolf In addition to repurposing of other types of commercial real estate for healthcare use (please see “Adaptive reuse on a roll,” starting on Page 1), providers had plenty more to say at the recent InterFace Medical Office West conference in Los […]
Transactions:AW, MedProperties acquire portfolio
OWNER/OPERATOR, PRIVATE EQUITY FIRM BUY SIX MOBS IN SOUTHWEST FLORIDA By John Mugford Palm Beach Gardens, Fla.-based AW Property Co. has a goal of substantially adding to its medical office building (MOB) portfolio – up to $250 million worth – in its home state of Florida in a three-year period. At the same time, Dallas-based […]
Transactions: HTA makes big entry into Boston area
REIT ACQUIRES 13-BUILDING PORTFOLIO FROM STEWARD HEALTH CARE FOR $100M By John Mugford Greater Boston’s medical office building (MOB) market is considered a very difficult one to crack into, especially when it comes to the third-party ownership of on-campus facilities. A lack of developable land on which to build and a reluctance by many of […]
News Release: Just Closed Northside East Cobb Medical Campus
The CBRE Healthcare Capital Markets Group acted as the exclusive advisor for the monetization of the Northside East Cobb Medical Campus. Sale Date: Sale Price: Sale PPSF: Building Size: Occupancy: YOC: March 21, 2012 $19,200,000 $277 69,341 SF 96.85% 1985, 1990, 1991 (renovated 2009) The CBRE Healthcare Capital Markets Group is pleased to announce the sale of the Northside East Cobb […]
Companies: JLL-led 410-bed hospital project done
NEW PARKVIEW REGIONAL MEDICAL CENTER HAS OPENED IN FORT WAYNE, IND. By John Mugford There were weather challenges and a labor strike to overcome, but the new Parkview Regional Medical Center in Fort Wayne, Ind., was completed a month early and was basically $11 million under budget. The 410-bed hospital project was led by a […]
Transactions: Duke Realty buys five MOBs near Cincy
REIT ACQUIRES PORTFOLIO WITH MORE THAN 109,000 S.F. – PLUS ROOM FOR MORE By John Mugford Indianapolis-based Duke Realty Corp. (NYSE: DRE) is on an aggressive path toward bolstering its medical real estate portfolio, both through acquisitions and development. The company added to its more than 4 million square feet of medical real estate holdings […]
Provider Perspective: Off-campus plans grow
OUTPATIENT STRATEGIES ARE A PROVIDER PRIORITY By Murray W. Wolf According to some estimates, 70 percent of healthcare today is still delivered in an inpatient setting. But, some predict that during the next several years, the pendulum will swing to 70 percent of the care being delivered in outpatient locations – and many of those […]
Inpatient Projects:Cincy hospital plans $265M project
ORTHO FACILITY WILL BE CENTERPIECE OF PROJECT BY THE CHRIST HOSPITAL By John Mugford The Christ Hospital in Cincinnati plans to begin construction this coming summer on a $265 million expansion and improvement at its main campus in the historic district of Mt. Auburn, just north of downtown. According to hospital officials as well as […]
Transactions: Griffin-American REIT snaps up MOBs
DURING THE FIRST QUARTER OF 2012, THE UNLISTED REIT HAS BEEN ON A TEAR By John Mugford We realize that when it comes to our coverage of healthcare real estate transactions, we’ve been giving plenty of press to Griffin-American Healthcare REIT II, the unlisted healthcare real estate investment trust (REIT) based in Newport Beach, Calif. […]
Product Focus: A strong close to 2011
FOURTH QUARTER SAW BIG JUMP IN MOB SALES By John Mugford Medical office building (MOB) sales were cruising along at a good and above average pace for most of 2011 until – wham! – they took off in the fourth quarter (Q4), just as many sales professionals had predicted. In fact, MOB sales in Q4 […]
Transactions: UHT buys Washington MOB for $31.1M
PUBLICLY TRADED REIT BUYS 99,000 SQUARE FOOT FACILITY FROM HEALTH SYSTEM By John Mugford Universal Health Realty Trust (NYSE: UHT) has been quite active in recent months – both buying and selling medical office building (MOB) assets. In late January, the King of Prussia, Pa.-based publicly traded real estate investment trust (REIT) was on the […]
Transactions: Duke Realty buys Chicago-area MOB
PRICE WAS $47.8M; REIT ALSO ACQUIRES CHRISTUS, COMMUNITY HEALTH FACILITIES By John Mugford Indianapolis-based Duke Realty Corp. has a goal of continuing to add to its medical office building (MOB) holdings. Well, the publicly traded real estate investment trust (REIT) did so with several significant purchases in recent weeks, the largest being a 104,912 square […]
Project Case Study: Foreclosed project getting new life
MERIDIAN HAS HIGH HOPES FOR SELLING MED BUILDINGS IN PALMDALE, CALIF. By John Mugford As a victim of the gung-ho medical office building (MOB) development spree that took place prior to the Great Recession, a 34,300 square foot speculative project marketed heavily to doctors has sat virtually vacant in Palmdale, Calif., since it was completed […]
