Healthcare Real Estate

Event Coverage

GlobeSt.com Celebrates Building Blocks Foundation Fund

Natalie Dolce | September 21, 2018

We joined more than 400 commercial real estate colleagues last night to recognize the collective work of Building Block supporters and community partners.

News

Mission Capital Refis Ten-Property Florida Portfolio

David Wilkening | September 21, 2018

DMCC was able to secure a non-recourse CMBS loan, which replaced ten individual mortgages.

News

Mayo Clinic Embarks on $190M Expansion of Rochester Campus

John Jordan | September 19, 2018

The Mayo Clinic is partnering with Singapore-based Pontiac Land on the $190-million project that will also include hotel space.

News

Avison Young Launches Life Sciences Group

John Jordan | September 19, 2018

The new group will span 10 regional markets in the U.S., Canada, Mexico and Europe and comprise 17 Avison Young leasing professionals.

News

Montecito Medical Expands New England Presence with Providence Buy

John Jordan | September 18, 2018

The four-story, 68,500 square-foot property is the largest facility for University Medicine, which operates nine other clinics throughout Rhode Island.

News

Health Quest, Marist College to Build New Medical School

John Jordan | September 13, 2018

The projected construction cost of the project is $75 million. The operating costs of the facility for the first 10 years (2019-2029) is estimated at $184.8 million.

News

Harrison Street Acquires Half-Million SF Medical Office Complex in Morristown, NJ

Steve Lubetkin | September 13, 2018

“These assets are highly sought-after, especially given lack of opportunities to acquire these types of deals in the market,” says HFF's José Cruz.

News

Location is Vital for Healthcare Assets

Lisa Brown | September 12, 2018

Hospitals and medical providers seek to place offices in neighborhoods and suburban areas, closer to where people live and work, in order to reduce costs and appeal to patients seeking medical care.

News

Private Investors Gravitate to Standalone Senior Assets

Lisa Brown | September 11, 2018

Strategic Student & Senior Housing Trust Inc., a public non-traded REIT sponsored by SmartStop Asset Management LLC, purchased Courtyard at Mt. Tabor senior facility for $92 million.

Research

Cushman & Wakefield: Life Sciences Driving Improved NJ Office Fundamentals

Steve Lubetkin | September 10, 2018

The industry’s annual contribution to the state economy is estimated at $47.5 billion—86 percent higher than the national average, says Andrew Judd, Cushman & Wakefield’s New Jersey market leader.

News

North Cypress Med Center Nets IRR of 17%

Lisa Brown | September 06, 2018

The $148 million sale resulted in an approximate $100 million gain for Medical Properties Trust which plans to use proceeds to make additional investments in US hospital real estate and elsewhere.

News

Senior Housing Community in Portland Trades for $92M

John Jordan | September 05, 2018

The CoC offers independent living, assisted living and memory care and is located at 6125 and 6323 SE Division St.

Research

Supply Is Not Close to Meeting Medical Office Demand

Erika Morphy | September 05, 2018

Transwestern estimates that total demand for medical office space across the US could range from 150.5 million square feet to 225.8 million square feet by 2019.

Q&A

How is Population Growth Affecting Healthcare?

Lisa Brown | September 04, 2018

Texas is expected to grow from 28 million to 45 million by 2040, which is outpacing the growth of healthcare professionals in the state, GlobeSt.com learns in this EXCLUSIVE.

News

CBRE Group Acquires Longstanding New England JV

John Jordan | September 04, 2018

CBRE/New England, combined with the Purpura-led team, manages more than 100 million square feet of commercial property and corporate facilities and has more than 1,200 employees.

US Medical Office Market Not Softening

Brian J. Rogal | August 30, 2018

A slight uptick in the national vacancy rate will not give investors much pause.

Event News

Council Thinks Outside the Course for Cure

Lisa Brown | August 30, 2018

Northern California Real Estate and Construction Council’s annual Bike to Hope capitalizes on the plethora of commercial real estate types who are avid bicyclists to raise money for life-threatening diseases.

News

Capitol Seniors Housing Opens Arbor Terrace Mountainside in New Jersey

Steve Lubetkin | August 28, 2018

Capitol Senior Housing has other holdings in New Jersey, including the newly opened Atria Norwood, Arbor Terrace Morris Plains, and The Chelsea at the Solana Marlboro, and is opening new communities in Mount Laurel and Shrewsbury.

Research

Amid Surging Medical Office Market in Metro Atlanta, Transwestern Leasing Brookhaven Medical Center II

Steve Lubetkin | August 27, 2018

Transwestern says Atlanta’s medical office market last year absorbed 639,378 square feet and is on track to match or exceed that level in 2018, with absorption of 390,458 square feet already reported in the first half of the year.

News

Annaly Capital Secures Regulatory Approvals for MTGE Investment Deal

John Jordan | August 22, 2018

The cash and stock merger deal, which was announced on May 2, is expected to close on Sept. 7. The deal values MTGE at $19.65 per share of MTGE common stock based on the closing price of Annaly’s common stock on April 30, 2018.

News

Growing Population Drives Healthcare Demand

Lisa Brown | August 21, 2018

Due to a strong healthcare infrastructure and fast-growing population, MedProperties Realty Advisors has strengthened its commitment to the Austin market by investing in three medical office buildings.

Analysis

Healthy Developments On The Rise in South Florida

David Wilkening | August 21, 2018

Industry groups estimate there are 1.3 million potential buyers each year in the United States for wellness-infused homes and communities.

News

Brookdale to Sell Battery Park Senior Housing Complex for $194M

John Jordan | August 20, 2018

The 14-story Downtown Manhattan property contains 217 senior independent living units and has been operated by Brookdale for nearly 20 years.

New Miami Senior Housing Combines Affordability, Transit Access

David Wilkening | August 16, 2018

The private/public effort is the first of its kind in 25 years.

Medical Office Looks Good for Buyers and Sellers

Brian J. Rogal | August 16, 2018

Public REITs have, temporarily at least, pulled back from the medical office sector, but sellers have not suffered.

News

Inland Private Capital Sells Medical Office Buildings in Illinois, Massachusetts

John Jordan | August 15, 2018

The company states the sale resulted in a total return to the investors of 142.10% (calculated based on the aggregate amount of original capital invested in the property).

News

Montefiore Raises Nearly $1.2B in Bond Financing

John Jordan | August 14, 2018

The bonds will be used to refinance certain existing debt and to provide reimbursement for certain strategic investments, enabling Montefiore to exit the Federal Housing Administration’s mortgage insurance program, according to DASNY.

Land & Buildings Wants Brookdale To Monetize $8B in Real Estate

Erika Morphy | August 10, 2018

It also would like the company to pursue REIT status.

Northwell Health to Build Outpatient Medical Complex on Upper East Side

John Jordan | August 07, 2018

The property is currently zoned to allow for a maximum of 278,149 square feet of commercial space, including 258,493 square feet above grade.

MBRE Healthcare Buys 3 MOBs For $35M

Adele Carter | August 05, 2018

"We continue to see institutional investors recognize medical office buildings as a viable core product for their portfolios."

Montecito Buys Satellite MOB For Boston Children’s Hospital

Adele Carter | August 02, 2018

"We love the characteristics of Boston Children’s hub-and-spoke model, where the satellite offices are leased on a long-term basis to an investment-grade system.”

Brookfield to Acquire Forest City in $11.4B Transaction

Betsy Kim | July 31, 2018

Brookfield will acquire all shares of common stock of Forest City for $25.35 per share.

News Thought Leadership

Medical Office Building Sale Provides ‘Rare Value-Add’

John Jordan | July 31, 2018

The 57,815-square-foot facility on the campus of Memorial Regional Hospital was purchased for $11.5 million by an unnamed private real estate investment firm.

Thought Leadership

Seniors Housing's Period of Adjustment

John Salustri | July 31, 2018

The good news is that the markets with the most new construction will be able to handle the resultant vacancy challenge. The bad news…well, according to Marcus & Millichap’s Adam Lewis, there isn’t any.

KAMCO and 90 North Deepen Midwest Portfolio

Brian J. Rogal | July 30, 2018

The Kuwait-based investment firm continues to build a portfolio in US secondary markets.

News

Expect the Unexpected with Building Systems

Lisa Brown | July 30, 2018

In this EXCLUSIVE, GlobeSt.com learns that tracking systems allow building owners to record the type, age and condition of building equipment and the best remediation course of action.

News

Columbia Residential Develops Affordable Senior Housing Near MARTA

Steve Lubetkin | July 30, 2018

East Decatur is one of the first affordable senior communities in the region offering such close proximity to a MARTA station.

Welltower, ProMedica Close $4.4B Quality Care Deal

Erika Morphy | July 27, 2018

Welltower will be able to better target post-acute care services with this acquisition, said CEO Tom DeRosa.

Breaking News

Quality Care Stockholders Approve $2B Welltower Deal

Erika Morphy | July 25, 2018

During the go-shop period Quality Care received a competing offer but the board never changed its recommendation to accept the Welltower offer.

News

Post-Acquisition, Hermann Expansion Continues

Lisa Brown | July 25, 2018

The hospital is nearing completion on a $650 million renovation and expansion to drive the latest technology and procedures, and provide for the growing healthcare needs in the Houston region.

Montecito Medical Acquires Beth Israel Deaconess MOB

Adele Carter | July 24, 2018

“Medical real estate doesn’t get much better than this prime property, given its location adjacent to the hospital campus and with a long-term lease to the dominant health system in the market."

LaSalle Investment Management Buys Memorial Hermann Medical Plaza

Adele Carter | July 24, 2018

According to a source in the Wall Street Journal the property traded for $405 million.

Apollo To Buy Hospital Chain LifePoint For $5.6B

Erika Morphy | July 24, 2018

The deal is a merger between LifePoint Health and RCCH HealthCare Partners, which is owned by Apollo.

The New MOB: Leaner, Greener and More Digital

Erika Morphy | July 23, 2018

An evolution in the medical office space is creating a schism between the traditional buildings and the modern medical office building.

Housing Faces Tariffs and Age Variations

Lisa Brown | July 22, 2018

In this EXCLUSIVE, KWA president Brian Webster discussed DFW area job growth, which is leading the charge on increased development, partnerships and the prevalence of senior housing.

News

Life Science Accelerator IndieBio to Open in NYC in 2019

Betsy Kim | July 20, 2018

IndieBio is receiving $25 million in state support to boost life science start-ups and the local economy.

Commentary

CRE’s Emerging Drug Problem

Anthony J. LoPinto | July 17, 2018

Amazon’s long-rumored entrée into the prescription business recently became a reality. It’s clear that the real estate industry will soon find itself with a major drug problem.

News

Another Watercrest-Titan Senior Living Project To Break Ground

John Jordan | July 16, 2018

The Winter Park, FL project named Watercrest Winter Park will be developed by Vero Beach, FL-based Watercrest Senior Living and Titan Development Real Estate Fund 1.

Alexandria Acquires 219 E. 42nd St. for $203M

Betsy Kim | July 13, 2018

The life sciences and tech REIT purchased the East Midtown property agreeing to a sale leaseback with Pfizer.

Middle-Market Digest

Middle Market Digest – The Northeast

Steve Lubetkin | July 13, 2018

A roundup of the latest leases, sales and other transactions in the Northeast middle markets.