Transactions: Grubb & Ellis REIT II acquires LTAC
HEALTHCARE REIT PLANS TO BUY A VARIETY OF MEDICAL PROPERTY TYPES By John Mugford As part of its growth strategy, Santa Ana, Calif.-based Grubb & Ellis Healthcare REIT II Inc. plans to acquire a variety of medical properties, not just medical office buildings (MOBs). The non-traded real estate investment trust (REIT), which had its start […]
Q&A: Grubb & Ellis REIT II off to active start
DANNY PROSKY IS PRESIDENT AND COO OF GRUBB’S SECOND HEALTHCARE TRUST By John Mugford It usually takes some time for a newly formed real estate investment trust (REIT) to get rolling. Back in 2006, for example, it took four months for the fledgling NNN Healthcare/Office REIT to break impounds – in other words, to raise […]
Transactions: ProMed makes foray into D.C. area
DEMAND WAS HIGH FOR VIRGINIA SQUARE PLAZA, WHICH SOLD FOR $20.6 MILLION By John Mugford Interest from potential buyers was quite intense for Virginia Square Plaza, a two-building medical office and general office building campus that had been put up for sale in the Rosslyn-Ballston Corridor in Arlington, Va. In fact, according to Jim […]
Transactions: HTA buying MOB near Pittsburgh CBD
REIT AGREES TO PAY $40.65 MILLION FOR FOUR-STORY, 191,612 S.F. FACILITY By John Mugford Officers with Scottsdale, Ariz.-based Healthcare Trust of America Inc. (HTA), a privately held real estate investment trust (REIT) that has been on quite a buying spree in the last six months, say their company is not confined to buying medical office […]
Provider Profile: Vanguard bets on Detroit
$1.27 BILLION DEAL WOULD BE FIRM’S BIGGEST YET By Dan Emerson For decades, the city of Detroit has been a poster child for post-industrial, urban decay. With the U.S. auto industry in slow, steady decline, the Motor City has lost roughly half of its population since its peak of 1.8 million some 60 years ago. […]
Transactions: NHP, PMB proceed with $211M deal
PUBLICLY TRADED REIT ACQUIRES INTEREST IN FIVE SOUTHERN CALIFORNIA MOBs By John Mugford Back in 2008, publicly traded real estate investment trust (REIT) Nationwide Health Properties Inc. (NYSE: NHP) and San Diego-based Pacific Medical Buildings struck a deal so large that it garnered national headlines. After all, the multi-year deal called for NHP to acquire […]
Transactions: Once again, HTA snaps up MOBs
IN JUST 30 DAYS, REIT AGREES TO FOUR ACQUISITIONS TOTALING $110 MILLION By John Mugford We realize Healthcare Trust of America Inc. (HTA) has been receiving plenty of publicity lately. However, the Scottsdale Ariz.-based, self-managed, non-traded healthcare real estate investment trust (REIT) has been making medical office building (MOB) acquisitions at a dizzying rate – […]
Transactions: Kaiser pays $42.8M for office building
PLANNED MOB CONVERSION IS MANAGED CARE FIRM’S LATEST DEAL IN D.C. AREA By John Mugford Oakland, Calif.-based Kaiser Permanente recently acquired a 200,000 square foot office building in Gaithersburg, Md., for $42.8 million. Kaiser plans to convert it into a medical office facility. Kaiser’s plans call for offering primary care, specialty care, full-service imaging, pharmacy […]
Transactions: Healthcare Trust remains acquisitive
REIT WOULD BUY THREE MOBS AND LTAC; IT ALSO CLOSES ON A FIRST MORTGAGE By John Mugford Last month, we reported that Scottsdale, Ariz.-based Healthcare Trust of America Inc. (HTA) had entered agreements to acquire 16 medical office buildings (MOBs) in the Phoenix area as well as three other MOBs in other states. In recent […]
News & Analysis: REIT makes $62.5M buy
VENTAS CLOSES ON THREE-BUILDING ACQUISITION By John Mugford At a couple of recent conferences and meetings focusing on healthcare real estate, Vincent M. “Vince” Cozzi, the managing director of acquisitions for Chicago-based Ventas Inc. (NYSE: VTR), made it clear that just because the company has plenty of cash on hand, it is not feeling any […]
Transactions: NHP nears $300 million deal with PMB
REIT WOULD BUY INTERESTS IN 7 MOBs WITH A TOTAL OF 600,000 SQUARE FEET By John Mugford Newport Beach, Calif.-based Nationwide Health Properties Inc. (NYSE: NHP) and San Diego-based Pacific Medical Buildings (PMB) made big headlines the last time they struck a big deal in early 2008. That deal was for as much as $2 […]
Product Focus: MOB sales jumped in Q3
VOLUME NEARLY TRIPLED VS. Q2; CAP RATES ROSE By John Mugford Folks involved in the sales of medical office buildings (MOBs) were predicting, or perhaps hoping for, a strong rebound by the second half of this year. According statistics recently released by New York-based Real Capital Analytics (RCA) Inc., they got one – in some […]
Special Report: Permanent shift for capital markets?
NIC PANELISTS SAY THINGS WILL GET BETTER, BUT IT WILL NEVER BE THE SAME By Murray W. Wolf In this, our fourth article from the 19th Annual NIC Conference, we explore how the recent disruptions in the capital markets have changed – perhaps permanently – and how that will affect the senior living sector. This […]
Transactions: Health Care REIT Inc. sells MOB park
ATLANTA-BASED ROBERTS COMMERCIAL PICKS UP EIGHT ASSETS FOR $7.7 MILLION Staff Reports Toledo, Ohio-based Health Care REIT Inc. (NYSE: HCN) in recent weeks sold the eight-building Johns Creek Medical Office Park in Johns Creek, Ga., for $7.7 million, or about $106 per square foot. The buyer was Atlanta-based Roberts Commercial Real Estate Services. The medical […]
Company Profile: FHA 242 debt in demand
INNOVATIVE CAPITAL GETTING HOSPITAL DEALS DONE By John Mugford At the start of this decade, as Alan P. Richman was delving into the idea of starting a company that would, among other services, secure Federal Housing Administration (FHA) Section 242 mortgage insurance for rural community hospitals, there were certainly some obstacles to overcome. “I was […]