Weekly Health Care Real Estate Briefing: Hurricane Ian Forces Hospital Evacuations I Atlanta Mayor Stops Hospital Redevelopment I American Healthcare REIT Goes Public

Posted on September 30, 2022 in Health Law News

Published by: Hall Render

Hurricane Ian forced 16 Florida hospitals to evacuate, although only a few hospitals sustained any major damage per NBC news.
American Healthcare REIT plans to go public on the New York Stock Exchange. The REIT owns 313 health care facilities in the U.S. and U.K., as well as a controlling interest in Trilogy Health Services, the operator of 122 senior care campuses. The REIT’s assets are valued at $4.5B making it the 9th largest REIT in the U.S. per Senior Housing News.
Atlanta’s Mayor has issued an executive order prohibiting the redevelopment of the Atlanta Medical Center. The order was issued following Wellstar’s announcement that it plans to close the 460-bed hospital according to the Atlanta Business Chronicle.
Hall Render attorneys recently published the following health care real estate articles: 1. Real Estate Investor Identified as Conspirator in Recent Antitrust Monopolization Complaint; 2. Why Operating Covenants Shouldn’t Be Included in Health Care Leases; and 3. What Health Care Providers Look for in New Locations.
Moody’s issued a credit downgrade for Envision Healthcare, a large physician staffing and ASC operator, warning that bankruptcy or major restructuring is likely on the horizon. Envision has received negative publicity for issuing surprise bills to patients per Fierce Healthcare.
Revista published new MOB pricing data. The bulk of MOB sale transactions are trading between $300 to $600 sf with cap rates ranging from four to six.
NPR published an article looking at hospital profitability and patient debt. The results are mixed, although Dallas Ft. Worth is one of the most profitable hospital markets, the building spree in that market has been driven by large profit margins per NPR.
Seavest acquired 6 emergency hospitals in Dallas Ft. Worth from Baylor Health System per Connect.
StepStone Real Estate has made a significant investment in Anchor Health Properties per PR Newswire.
The fastest growing behavioral health operators are focused on autism and outpatient mental health services per Behavioral Health Business.