Five Hospitals Buying Land For Expansions

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Below are five hospitals or health systems that purchased or announced plans to buy land for expansions in the last three months.

1. HCA buys land, plans freestanding ED
Nashville, Tenn.-based HCA Healthcare has purchased a plot of land in Tennessee to build a freestanding emergency department.

4. Ascension St. Vincent’s buys 33 acres for Florida hospital
Jacksonville, Fla.-based Ascension St. Vincent’s purchased a parcel of land in Florida’s St. Johns County for nearly $18 million.

5. Encompass Health buys land for rehab hospital in Florida
Birmingham, Ala.-based Encompass Health bought a plot of land in St. Augustine, Fla., to build a new hospital, the company said July 10.

2. South Carolina hospital buys land for expansion
The board of Orangeburg, S.C.-based Regional Medical Center agreed to buy a 6.5-acre plot of land for an expansion.

3. University Health System to buy land in San Antonio for new hospital
San Antonio-based University Health System plans to buy an 80-acre parcel of land to build a second hospital.

Source: Becker’s Hospital Review

Medical Office Buildings Have Remained Strong Through It All

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As was predicted, albeit with some caution, medical office buildings (MOBs) have held up very well from as an investment and property type since the onset of the COVID-19 pandemic.

This statement comes not just from an anecdotal point of view, but from one of statistics and data.

During the Healthcare Virtual Conference 2020 sponsored and webcast Sept. 24 by Seattle-based Colliers International, Mike Hargrave, principal with healthcare real estate (HRE) research and data firm Revista, provided the most recent data concerning the health of the MOB product type. Mr. Hargrave provided the virtual audience with a lot to chew on during the “Revista Lunch and Learn” presentation.

 

Source: HREI

 

Dallas Investors Buy The Las Colinas Medical Building In Irving, Texas

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Dallas-based Ridgeline Capital Partners has purchased a 70,000-square-foot medical office building in Irving.

The three-story building is at 6121 N. State Highway 161 and was acquired in a joint venture with Harrison Street, a Chicago-based investor. The building was constructed in 2019 to house primary care physicians.

The property is near Medical City Las Colinas hospital and is more than 80% leased to tenants including UT Southwestern Medical Center. An ambulatory surgery center will open in the building early next year.

“This is a medical campus with best-in-class tenants that provide a wide range of services for patients in one convenient location,” Jeff Axley, managing principal for Ridgeline, said in a statement. “The building was attractive to us due to its triple A credit-rated anchor tenant UT Southwestern Medical Center, Ambulatory Surgery Center and strategic location adjacent to Healthcare Associates of Texas, which provide additional primary care patient referrals to our tenants.”

Ridgeline Capital Partners acquires and operates medical office buildings, health care real estate and behavioral health facilities in Texas and the Southeast.

 

Source: The Dallas Morning News