Company Profile: Small firm, big presence
GOOD REPUTATION KEEPS HEALTHAMERICA HUMMING By John Mugford When Thomas W. “Tommy” Tift III was in Los Angeles for a healthcare real estate conference and some meetings earlier this year, he took an afternoon away from business to enjoy the nice weather and squeeze in a round of golf. But the getaway quickly turned into […]
Inpatient projects: Plans unveiled for $360M N.D. hospital
371-BED FACILITY WOULD REPLACE OLDER CAMPUS AND BE BUILT OUT OF FLOOD PLAIN By Dan Emerson While much of the country is struggling to dig out of the recession, the state of North Dakota has been enjoying an economic boom, fueled in large part by new oil-field discoveries. At the same, the state’s largest city, […]
Companies: Cain Brothers represents VHS in deal
PUBLICLY TRADED VANGUARD ACQUIRES MAJORITY INTEREST IN TEXAS SYSTEM By John Mugford Acquisitions of independent hospitals by larger companies and health systems are continuing at a rapid pace. In a recent example, Nashville, Tenn.-based Vanguard Health Systems (NYSE: VHS), a publicly traded system with 26 hospitals and complementary facilities nationwide, acquired a 51 percent interest […]
Inpatient Projects: Mercy reveals $950M Joplin makeover
PLAN WOULD REPLACE, EXPAND MED CENTER DESTROYED BY EXTREME TORNADO By John Mugford The ABC TV reality show “Extreme Makeover: Home Edition” is scheduled to rebuild “multiple homes” in tornado-ravaged Joplin, Mo., next month. An EF5 tornado – the fiercest category – which ripped through the southwestern Missouri community May 22, killed scores of people […]
Outpatient Projects: NexCore’s N.Y. project on track for ‘12
$30 MILLION, THREE-STORY, 85,000 SQUARE FOOT FACILITY IS BEING BUILT FOR UHS By John Mugford All of the structural steel is in place for a future 85,000 square foot outpatient facility in Vestal, N.Y., located in the south-central part of the state, about 110 miles south of Syracuse. Denver-based NexCore Group is the developer of […]
Q & A: MOBs drive HTA strategy
MARK ENGSTROM STILL SEES AMPLE OPPORTUNITIES By John Mugford Anyone who follows the medical real estate sector has watched Healthcare Trust of America Inc. (HTA) build its large portfolio of medical office buildings (MOBs) by relying on its many health system relationships, an aggressive acquisitions strategy, a willingness to move into almost any geographic region […]
Special Report: Recent deals suggest sellers’ market
BOMA PANELISTS EXPLORE IMBALANCE OF REAL ESTATE SUPPLY AND DEMAND By Murray W. Wolf Anyone who has been involved in commercial real estate for more than five minutes knows there is probably no such thing as a “typical” deal. There are too many variables – geographic market, specific location within that market, age of the […]
Inpatient Projects: New replacement opens doors in N.Y.
$350M ORANGE REGIONAL MEDICAL CENTER REPLACES TWO AGING CAMPUSES By John Mugford New freestanding replacement hospitals don’t come along very often in the state of New York. In fact, it’s been more than two decades since the last new one was completed anywhere in the Empire State. Until now, that is. The 383-bed, $350 million […]
Inpatient Projects: Alabama hospital buyer plans rebuild
TENNESSEE-BASED REGIONALCARE PLANS $227 MILLION REPLACEMENT FACILITY By John Mugford When Brentwood, Tenn.-based RegionalCare Hospital Partners acquired the assets of Coffee Health Group in Florence, Ala., in mid-2010, it pledged to seek state approval to build a replacement hospital for Eliza Coffee Memorial Hospital, which serves much of northwest Alabama. In recent weeks, the for-profit […]
Industry Pulse: July 2011
NEW YORK – Demand for healthcare facilities is approaching a point where it will outstrip supply, according to Jay Flaherty, chairman, president and CEO of Long Beach, Calif.-based HCP Inc. (NYSE: HCP), a large healthcare real estate investment trust (REIT). In a REIT.com video interview at “REITWeek 2011: NAREIT’s Investor Forum” at the Waldorf Astoria […]
Provider News: A joint venture considered in Colorado
PACT MAKES SENSE, SYSTEMS SAY, IN ERA OF REFORM, PHYSICIAN SHORTAGES By John Mugford At a time when many hospital consolidations are taking place throughout the country, two well-known players in Colorado are considering what the entities are calling a “joint operating agreement.” Officials with the University of Colorado Hospital at the Anschutz Medical Campus […]
Inpatient Projects: Baylor hospital to get $100.5M tower
165,741 SQUARE FOOT EXPANSION PLANNED AT HOSPITAL IN GRAPEVINE, TEXAS By John Mugford Dallas-based Baylor Health Care System is shoring up plans for a $100.5 million expansion at its hospital in Grapevine, located in the northern suburbs of the Dallas/Fort Worth Metroplex.Baylor’s plans call for the construction of a new a five-story, 165,741 square foot […]
Outpatient Projects: Site work starts on 176,462 s.f. MOB
COGDELL SPENCER ERDMAN IS BUILDING $27.8 MILLION PROJECT IN DULUTH, MINN. By John Mugford As hospitals across the country continue to add more and more employed physicians, many are seeing a need for new spaces where these doctors can provide services. One place this is happening is in downtown Duluth, Minn., where design/build firm Cogdell […]
Q & A: New job for MOB pioneer
SYDNEY SCARBOROUGH TAKES ON NEW ROLE AT JLL By John Mugford When Sydney P. Scarborough was asked a question during the ensuing interview about what she enjoys doing outside of work, there was a caveat that went something like this: “It’s obvious that at work your passion entails helping hospitals reduce costs, but outside of […]
Industry Pulse: June 2011
FRISCO, Texas – The general consensus among professionals involved in healthcare real estate, as well as the healthcare industry in general, is that the development of new physician-owned hospitals is dead, killed by Section 6001 of the Patient Protection & Affordable Care Act. The provision, for the most part, prohibited the opening of new physician-owned […]