BlackSwan Zine

In Austin, medical office space continues to outperform other commercial real estate markets, according to a recent report. Buoyed by hospital and health care expansions, medical office space in the greater Austin has outpaced other segments, according to Austin-based Site Solutions Inc.’s Medical MarketScope.

Health Care REIT, Inc. (NYSE:HCN) announced that its Board of Directors declared a cash dividend for the quarter ended December 31, 2009 of $0.68 per share. The dividend will be the company’s 155th consecutive quarterly payment, payable February 19, 2010, to stockholders of record on February 8, 2010 (see also Health Care REIT, Inc.).

Omega Healthcare Investors, Inc. (NYSE:OHI) (the “Company”) announced the pricing of a private placement of $200 million aggregate principal amount of 71/2% senior notes due 2020 (the “Notes”). The Notes were priced at 98.278% of par value (before initial purchasers’ discount). The offering is expected to close on February 9, 2010 subject to customary closing conditions.

Medical Office Buildings, commonly referred to as MOBs, are one of the few darlings of the current real estate finance industry. They garner low rates, great terms, and even bankers’ whose commercial loan portfolios took a drubbing want to lend in that space. Need proof?

Woman’s Hospital has filed plans for its five-story medical office building at the new campus at Airline Highway and Pecue Lane. At just under 250,000 square feet, the building’s cost is pegged at $23 million, but it will ultimately be about $39 million with the tenant spaces built out, spokeswoman Jodi Conachen said.

One of Portland’s best-known architects is breaking ground on a $45 million cooperative housing project for seniors. The 62-unit Sheldon Cooperative will be among the first co-ops of its kind in Oregon.

The Southern Nevada medical-office market has been hurt by the recession and the shortage of medical professionals, analysts said. The average vacancy rate was 17 percent at the end of 2009, a slight increase from the third quarter when the rate was 16.57 percent. The vacancy rate was 15.45 percent at the end of 2008.

Demolition is imminent at the closed St. Joseph Hospital, which will be replaced by a $179 million senior-living complex. The project, called Aberdeen Heights, will have 243 apartments on what had been the hospital’s 18-acre site. Some apartments are scheduled to be ready by September 2011.

by Blanca Torres for San Francisco Business Times
San Leandro is beginning to see its transit-oriented dreams come true.
The city mostly known for warehouses and industrial sites has several developments including office, residential and commercial in the works for its downtown area near the BART station.
“This is just furthering smart growth,” said Cynthia Battenberg, business development [...]

The only coastal emergency medical department between Oceanside and La Jolla is moving ahead on its first major upgrade in 16 years. Construction began last week on a parking garage for Scripps Memorial Hospital Encinitas, with crews ripping up the old north parking lot and rerouting utility lines to make way for the excavation.