HCP, Inc. (NYSE: HCP), disclosed with the reporting of second quarter, 2015 earnings that it had purchased a portfolio of 11 on campus medical office buildings from Memorial Hermann Health System.
The interesting things about this deal, however, are the pricing and location of these assets. The total value of the deal was $449M for the 8 properties comprising 437,895 square feet. This works out to $1,025 per square foot which makes it the highest priced publicly announced MOB deal (per SF) this year.
Healthcare Trust of America (NYSE: HTA) recently announced it had closed on over $190 million worth of acquisitions in the second quarter of 2015. The acquisitions were in the REIT’s existing markets of Boston, Charleston, Indianapolis and Raleigh. Based on preliminary 2Q data, HTA is setting the pace for MOB transactions in 2Q...
Ardent purchased Hillcrest health system in 2004 for roughly $281.2 million. According...
SABRA Healthcare REIT (NYSE: SBRA) announced in a recent filing that they purchased 4 post-acute SNFs located in Maryland at a price/bed that rivals some hospital trades.
I was so excited to hear that Dr. Sam Chandan would be presenting again at Revista's Medical Real Estate Investment Forum. I would rate Dr. Chandan’s presentation last year as the best one I heard all year -- Hands down. Dr. Chandan brings three very powerful elements to bear: his super-charged energy, an understanding of economic and market data, and the big picture thinking to bring it all together.
Overall, there are 26,545 medical properties in the top 50 metro areas. Of this, we count 1,895 hospitals, 15,116 medical office buildings
The conference was different from other health care real estate conferences in that the star of this show was the data. Networking was also a highlight, but everyone was talking about the data.
Below is a link to Mark Engstrom's (who is the Executive Vice President of Acquisitions at HTA REIT) opening speech on the importance of data and transparency to the medical office sector.