News & Analysis: New debt, new equity
LILLIBRIDGE GETS $250M REFI, PLUS $30M FROM PRU By John Mugford For many commercial property owners and developers – including those involved in healthcare real estate – the recession has put them in quite a financial pinch. They face difficulties in refinancing mortgages when debt maturities come due, and in trying to raise capital to […]
Transactions: Knoxville MOB part of two-asset sale
PARKSIDE PLAZA REPORTEDLY SOLD FOR $267 PSF TO LLC THAT INCLUDES A TIC Staff Reports Earlier this year, the two-building Parkside Plaza at Turkey Creek office complex in a suburb of Knoxville, Tenn., was sold in a deal valued at more than $40 million, according to a recent news release from NAI Knoxville. The brokerage […]
Transactions: San Antonio MOB trades for $13.7M
NEW YORK-BASED REAL ESTATE ENTITY BUYS STONETERRA MEDICAL PLAZA By John Mugford Because potential buyers of medical office buildings (MOBs) have become more selective about their transactions in the current economy, some properties are sitting on the selling block a bit longer than they would have just a year or so ago. But eventually, professionals […]
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 […]
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 […]
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 […]
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 […]
Transactions: Grubb & Ellis buys two MOB portfolios
HEALTHCARE REIT ACQUIRES SEVEN MEDICAL OFFICE ASSETS FOR $77 MILLION By John Mugford During a time when medical office building (MOB) sales are slowing because of the current commercial credit crunch, Santa Ana, Calif.-based Grubb & Ellis Healthcare REIT acquired two MOB portfolios in September with a total of about 404,000 square feet of space. […]
Transaction (September 2008)
Baptist buys land for hospital in ‘Bama HEALTH SYSTEM PROPOSING 140-BED HOSPITAL IN HOOVER, NEAR BIRMINGHAM By John Mugford Like putting together a puzzle, Birmingham, Ala.-based Baptist Health system recently completed its third and final land acquisition needed to build its proposed 140-bed hospital in Hoover, Ala., a town of about 70,000 people. Baptist paid […]
Industry Pulse (September 2008)
NEW YORK – There seem to be fewer large medical office building (MOB) portfolios on the market these days, the prices of the assets that are available are relatively high, and the challenging capital environment seems to have put a bit of damper on some MOB new developments. So it’s probably not surprising that some […]
News and Analysis (July 2008)
Grubb goes to town HEALTHCARE REIT MAKES BUYS FOR $256M By John Mugford Don’t worry about whether Grubb & Ellis Healthcare REIT Inc. can wade through the current commercial lending crunch and slow economy. The Santa Ana, Calif.-based real estate investment trust (REIT) that focuses on healthcare properties went on a bit of a buying […]
