Our Health Care Real Estate Briefing is your comprehensive summary of weekly health care real estate highlights currently happening across the nation.
- New York Governor postponed a new law that restricts how nursing homes operate in the state. The law requires nursing homes to use 70% of their revenue for patient care and at least 40% of revenues on staffing and all profits in excess of 5% must be returned to the state per Skilled Nursing News.
- The U.S. Real Estate Index is up 36.8%, beating the broader U.S. equity market that achieved a 26.4% return over the same 12-month period. Health care and hotel REIT indexes underperformed during the same time per Morningstar.
- Nearly 8% of outstanding senior housing bonds are in default, but this hasn’t deterred investors. Demand remains strong for senior housing bonds, 30-year senior housing bonds traded at 2.12%, 10-year taxable bonds traded 6.6% and 10-year tax-exempt bonds at 4.4% per WSJ.
- Hall Render is seeking guests for its Health Care Real Estate Advisor podcast. Contact Andrew Dick at adick@wp.hallrender.com if interested.
- A JV between Starwood Capital Group and Trinity Capital Advisors announced plans to develop Spark LS, a $1B life sciences campus located on 109 acres in Research Triangle in Morrisville, NC – will include 1.5M sf of space spread over 12 to 15 buildings per REBusinessonline.
- Mayo Clinic has grown tremendously over the past 20 years, although it has failed to complete a majority of its 86 development projects that were announced in its most recent 5-year plan according to a recent report. A detailed summary of Mayo’s real estate projects can be found in this Post Bulletin article.
- Summit Healthcare REIT acquired 8 SNFs in Georgia for $130M at the end of 2021. The acquisition includes 826 beds valued at $157K per bed per Summit Healthcare REIT.
- Harrison Street acquired three MOBs from Ryan Companies in the Milwaukee area for $92M per the Milwaukee Business Journal.
- Arbah Capital has acquired Constitution Health Plaza in Philadelphia, a medical complex valued at $87M per Arab News.
- HCA Healthcare purchased MD Now Urgent Care, the largest urgent care chain in Florida with 59 locations per HealthCareDive.
- Abrazo Health acquired 27 acres of land in Buckeye, AZ, which it plans to use for a new ASC, hospital and MOB per Phoenix Business Journal.
If you have questions or would like additional information about our Real Estate services, please contact:
- Andrew Dick at adick@wp.hallrender.com or (317) 977-1491; or
- Your primary Hall Render contact.
Hall Render blog posts and articles are intended for informational purposes only. For ethical reasons, Hall Render attorneys cannot—outside of an attorney-client relationship—answer an individual’s questions that may constitute legal advice.
