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Health Care Real Estate Briefing – January 18, 2022

Posted on January 18, 2022 in Health Law News

Published by: Hall Render

Our Health Care Real Estate Briefing is your comprehensive summary of weekly health care real estate highlights currently happening across the nation.

  1. The Department of Health and Human Services extended the public health emergency through April 16, 2022.
  2. Since the pandemic began, nursing homes and assisted living facilities have lost more than 400,000 jobs. In some communities, fast food restaurants are paying $19 per hour when CNAs would make $13 per hour according to Marketplace.org.
  3. QHC, an Iowa company that operates 8 nursing homes and 2 assisted living facilities, filed for Chapter 11 bankruptcy at the end of 2021 citing “crippling staffing and employee retention issues” since the onset of the pandemic per Skilled Nursing News.
  4. Staffing shortages at home health agencies and nursing homes are creating problems at hospitals. Patients being discharged have nowhere to go and home health referral acceptance rates have fallen 15% while SNFs declined referrals 10% more often in 2021 compared to 2019 per Fierce Healthcare.
  5. The Consumer Price Index increased 7% over the past 12 months, up from 6.8% in November. The CPI hasn’t increased at this pace since 1982. The price of used cars is up 37%, furniture is up 17% and approximately 49% of small business owners plan to raise prices this year per the WSJ.
  6. Straub Medical Center in Honolulu broke ground on a $1B, 15-year expansion project that will nearly triple the size of its campus per the Honolulu Star.
  7. UT Southwestern Medical Center and the Texas Health and Human Services Commission plan to build a new $237M, 200-bed inpatient psychiatric hospital in Dallas per D Magazine.
  8. University of Iowa Hospitals and Clinics received approval to move forward with plans for a new hospital tower, a teaching and research building and an ambulatory care center per the Iowa City Press.
  9. Baptist Health and Broward Health have made headlines as they compete for 25 acres of surplus land in Sunrise, FL for a new hospital per the Real Deal.
  10. Spectrum Health plans to spend $151M to build three new MOBs in Western Michigan, including a 240K sf MOB in Grand Rapids, a 15K sf rural health clinic in Lakeview and 33K sf MOB in Big Rapids per Mlive.
  11. Artemis Real Estate Partners and Thomas Park Investments formed a JV to acquire $500M in MOBs located in the mid-Atlantic and Northeast per Business Wire.
  12. Artemis Real Estate Partners and Hicks Ventures formed a $100M JV to develop 20 inpatient rehabilitation and behavioral health hospitals per Modern Healthcare.
  13. Ryan Cos. sold 11 MOBs totaling 500K sf to Harrison Street per the Minneapolis Business Journal.

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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.