Articles and Blogs

Presbyterian Healthcare Services and UnityPoint Health executives have agreed not to pursue a planned cross-market merger that would have created a system of nearly 50 hospitals. The nonprofit systems proposed the partnership in March; however, financial issues have led to the merger being abandoned. Walgreens plans to close 60 underperforming VillageMD clinics and exit... READ MORE

Healthpeak Properties, Inc. and Physicians Realty Trust have announced an all-stock merger valued at around $21 billion. The combined company will possess a 52-million-square-foot healthcare real estate portfolio. The company will operate under the name of Healthpeak Properties, Inc. and trade as “DOC” on the NYSE. Last week, mortgage rates reached their highest level... READ MORE

According to a recent study, physician-owned hospitals treated some of the most expensive Medicare beneficiaries at significantly lower costs compared to traditional hospitals, despite serving similar patient populations. The study follows a recent Congressional hearing that debated legislation to loosen restrictions on physician-owned hospitals. The Pennsylvania Supreme Court will weigh in on the extent... READ MORE

Rite Aid has filed for bankruptcy protection under Chapter 11 of the bankruptcy code. In connection with the filing, Rite Aid plans to reject over 300 leases as the debt-ridden company looks to downsize its “sub-optimal” brick-and-mortar footprint. Closing underperforming locations is a crucial part of the company’s restructuring plan. Deloitte released its Global... READ MORE

Site prep is underway on a 68-acre parcel where University Health is building a new full-service hospital near Texas A&M University-San Antonio. The $475M project is planned for the historically underserved south side of San Antonio and will open in 2027. In response to hundreds of cancer patients coming from out of state to... READ MORE

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... READ MORE

Investment firm Black Salmon is partnering with Allen Morris Company on a $1B mixed-use development in the Miami Health District. The 7-acre project is expected to include 500,000 sf of medical office, 1,000 apartments and a 150-room hotel. Fitch Ratings expects the recently proposed federal nursing home staffing standards to increase costs for SNFs,... READ MORE

Kayne Anderson Real Estate acquired a $1.3B medical office building (“MOB”) loan portfolio from Synovus Bank. The loan portfolio includes 106 floating-rate mortgages secured by 308 MOBs across 33 states. CBRE released its Q2 Healthcare Real Estate Investor Update. MOB transaction volume for Q2 remained consistent with the previous quarter with $1.8B in transactions... READ MORE

The Gilbert Family Foundation, Henry Ford Health and Shirley Ryan AbilityLab announced plans for a $439M inpatient rehab hospital and research facility in Detroit. Plans for the project include a 125,000-sf inpatient tower with 72 beds. According to a recent Bloomberg article, private equity is no longer a reliable last resort as a buyer... READ MORE

A group of California tech billionaires spent $800M to acquire nearly 50,000 acres of land between Sacramento and San Francisco to develop what they are calling a “modern metropolis”. The project, if approved, would be one of the largest development projects in the works nationally. While detailed plans have not been released, the project... READ MORE