- The federal government plans to define “zero-emissions building” for the real estate industry. The definition is part of a plan to create uniform guidelines for reducing greenhouse gas emissions. The building industry accounts for 1/3 of all greenhouse gas emissions in the U.S.
- The Biden administration announced a new initiative that would prohibit unpaid medical bills from affecting Americans’ credit scores.
- According to a new report, CMS’s minimum staffing proposal for nursing homes would require nursing home operators to hire 102,000 additional nurses at a cost of $6.8B. Government officials originally estimated the cost of compliance at $4B.
- The largest non-profit nursing home providers own 30% of the nursing homes in the country. The largest non-profit operators are The Evangelical Lutheran Good Samaritan Society, Ascension Living, The Carmelite System, Inc., Benedictine and Trinity Health Senior Communities.
- According to a new Kaufman Hall survey of health care real estate investors, 90% of respondents reported that occupancy rates have improved or remained the same over the last 12 months and 86% of respondents expect their MOB portfolios to perform the same or better in 2024. MOBs remain a stable and attractive asset for investors.
- New research shows that older adults experienced a 10% decline in frailty levels within a year of entering a senior housing facility.
- Cushman & Wakefield released its mid-year medical office building report for Orlando, Florida. The overall asking rate for MOB space is $26.76/sf, vacancy for the market sits at 6.3% and unemployment in the market sits below the U.S. average at 3%.
- H2C released a new report outlining opportunities for University Real Estate Foundations. The report focuses on tracking performance and grouping assets, creating value throughout an asset’s lifecycle, utilizing new development strategies and leveraging public-private partnerships.
- A new article summarized why hospitals are closing throughout the U.S. Common trends include declining patient volumes, financial challenges, labor costs and issues with reimbursement. Hospital closures are often linked to financial difficulties, aging infrastructure, unstable reimbursement environments and ownership changes.
- The University of Chicago Medicine broke ground on a new $815M oncology facility on its Chicago campus. The 575,000 sf, seven-story project will include space for clinical services and research.
For more information on real estate matters, please contact:
- Andrew Dick at adick@hallrender.com or (317) 977-1491;
- Joel Swider at jswider@hallrender.com or (317) 429-3638; or
- Your primary Hall Render contact.
Special thanks to Gabriel Vaughn, undergraduate intern, for his assistance in the preparation of this article.
Hall Render blog posts and articles are intended for informational purposes only. For ethical reasons, Hall Render attorneys cannot give legal advice outside of an attorney-client relationship.
