- Walmart Health may be considering a sale of its health care clinics. One source said the retailer may be discussing a sale to Humana. Walmart closed its 51 health care clinics in April as a result of poor financial performance.
- Healthcare Realty Trust (“HRT”) generated $400M in proceeds from the disposition of several assets and from joint venture transactions. HRT is in the process of completing additional asset sales which would create an additional $600M in sale proceeds.
- AW Property Co. has acquired a portfolio of medical outpatient buildings (“MOBs”) from HRT for $72M. The portfolio includes six MOBs leased to Cone Health in the Greensboro, NC metro area.
- Large U.S. banks can withstand a significant drop in commercial real estate values according to the Federal Reserve. The Federal Reserve performs an annual stress test on banks to see if they can withstand a 40% drop in commercial real estate values.
- Three articles were published on Andrew Dick’s LinkedIn page, including: 5 Health Care Trends to Watch, California’s Bill Regulating Private Equity Transactions and Massachusetts’ Bill Regulating Hospital Sale-Leaseback Transactions.
- Over the next ten years, ambulatory surgery center (“ASC”) volume is expected to increase by 21% according to a new report. The aging population and improved diagnostic capabilities are expected to drive the increase in patient volume. The top three specialties driving opportunities in ASCs are orthopedics, spine and gastroenterology.
- SSM Health released plans for its new Cardinal Glennon Children’s Hospital in St. Louis. This 14-story facility will be over 505,000 sf and include more than 200 beds.
- A new $143M, 96-bed behavioral health care facility has been approved at the Los Angeles Medical Center campus.
- The University of Miami acquired a former Macy’s furniture store in Pinecrest (Miami) for $40M. Redevelopment plans have not been announced but sources believe the property may be repurposed for UHealth operations.
- A new article summarizes states with and without certificate of need (“CON”) or moratorium requirements imposed on health care providers. The following states do not have CON restrictions: CA, CO, ID, KS, NH, NM, ND, PA, SD, TX, UT and WY.
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.
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.
