MINNEAPOLIS (PRWEB) July 29, 2011
The level of healthcare real estate sales transaction and development activity seems to be increasing, if the most recent edition of Healthcare Real Estate Insights is any indication. Eleven medical office building (MOB) sales transactions, a dozen new outpatient developments and 10 inpatient projects are detailed in the current edition of HREI, a national healthcare real estate publication based in Minneapolis.
Some of the major deals include:
▪ American Realty Capital Healthcare Trust Inc., a non-traded real estate investment trust (REIT), plans to acquire medical properties totaling 765,038 square feet at multiple locations for a price of $257.5 million.
▪ Healthcare Trust of America Inc., another non-traded REIT, announced that it has entered a purchase agreement to acquire the Desert Ridge Medical Campus in Phoenix for $32.75 million.
▪ Grubb & Ellis Healthcare REIT II has closed on the $7.2 million acquisition of a 41,000 square foot MOB on the campus of Doctors Hospital in Sarasota, Fla.
Some new MOB and other outpatient developments described in the current edition of HREI include:
▪ A group of physicians in the western Philadelphia suburb of Bryn Mawr, Pa., recently broke ground for the $32 million, 141,000 square foot Bryn Mawr Medical Arts Pavilion.
▪ White Plains, N.Y.-based private equity firm Seavest Inc. and developer Trammell Crow Co. broke ground in recent weeks on a $13.6 million, two-story, 62,454 square foot MOB in Warwick, R.I., on the campus of Kent Hospital, about 15 miles from Providence.
▪ Indianapolis-based Duke Realty recently started construction of an 87,000 outpatient facility on the Raleigh, N.C., campus of WakeMed Health & Hospitals.
▪ Denver-based NexCore Group recently started development on an $18 million, 60,000 square foot medical office building (MOB) on the campus of Saint Agnes Hospital in Baltimore.
A sampling of the inpatient projects detailed in the current edition of HREI involve RegionalCare Hospital Partners in Alabama, Sisters of Mercy Health Care in Missouri, Kapi’olani Medical Center for Women & Children in Honolulu, and Lowell (Mass.) General Hospital, to name just a few.
“A few dozen projects are not definitive proof of a sustained market recovery, but the recent flurry of activity certainly suggests that healthcare real estate development and investment might be gaining strength,” says John B. Mugford, Editor of HREI.
“We certainly observed a slowdown in healthcare real estate activity from mid-2008 through most of 2010, and recent MOB sales volume has been inconsistent,” Mr. Mugford acknowledges. “But the healthcare real estate niche outperformed most other commercial real estate sectors during the recession, and the recent volume of activity seems to be accelerating.
“In addition to the transactions and projects mentioned in our current edition, we are already working on numerous articles about other new deals and developments that will be published in upcoming editions of Healthcare Real Estate Insights.”
About Healthcare Real Estate Insights
Launched in January 2003, Healthcare Real Estate Insights has come to be recognized as the most trusted independent source of news and trend information in the healthcare real estate development, financing and investment sector. This monthly, national, B2B newsletter offers sophisticated players the most comprehensive coverage in the industry available anywhere. For more information or to subscribe, please visit us at http://www.hreinsights.com.
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