BlackSwan Zine

Healthcare: Northlight Financial Sells Two Medical Centers for .72M

analyst — Mon, 23 Apr 2012 20:06:19 +0000

Healthcare: DaVita Anchored MOB Sells For .7M

analyst — Mon, 23 Apr 2012 20:02:55 +0000

CH Castor LP purchased the medical office building at 7198 Castor Ave. in Philadelphia, PA from an LP for .7 million, or about 7 per square foot. The 22,139-square-foot building was constructed in 1950 with a complete renovation in 2010. It is in the Northeast Philadelphia submarket and was fully-leased to multiple tenants including DaVita Dialysis at the time of sale. Matt Gorman and Michael Shover of Marcus & Millichap represented the seller and the buyer. Read More

Healthcare: Steward Health Care System confirms sale-lease-back of medical buildings

analyst — Mon, 23 Apr 2012 20:00:56 +0000

By Charles Winokoor for Taunton Gazette Taunton — Steward Health Care System, the for-profit medical group that owns Taunton’s Morton Hospital and Saint Anne’s Hospital in Fall River, has sold off a portfolio consisting of 13 medical office buildings worth approximately 0 million. Steward spokesman Chris Murphy confirmed Tuesday that the lease-back agreement with Arizona-based Healthcare Trust of America includes Taunton’s Northwoods Medical Center at 2007 Bay St., as well as a Saint Anne’s-affiliated building. Murphy last November told the Taunton Daily Gazette the sale-lease-back of Northwoods was intended to raise capital for making improvements in the 10 hospitals the Boston-based business has purchased during the past two years. “All proceeds from the sale are going to be re-invested into improvements,” he reiterated on Tuesday. Murphy said the announcement of the sale having gone through at the end of March didn’t generate immediate media attention, because it was only posted as an online press release by Business Wire. A spokeswoman for Heathcare Trust, when contacted by phone to identify the address of the Fall River building, said the real-estate investment firm doesn’t comment on press releases. Healthcare Trust was formed in 2006 and, according to its website, has accumulated an acquisition portfolio of .5 billion. Steward Health Care Systems is owned by private equity firm Cerberus Capital Management of Manhattan. Read more

Healthcare: Froedtert Health courts customers in affluent areas

analyst — Mon, 23 Apr 2012 19:50:32 +0000

By Guy Boulton for the Journal Sentinel The million medical office building that Froedtert Health plans to build in New Berlin is the most recent example of the competition among health systems for suburban patients. That trend is well-established in the Milwaukee area, and it is becoming increasingly common throughout the country, according to a study published this month in Health Affairs, a health policy journal. Health systems are competing for insured patients through targeted expansions in more affluent communities by building hospitals and clinics and by buying physician practices, according to a long-running tracking study of 12 large metropolitan communities by the Center for Studying Health System Change. The strategy is a shift in how hospitals and health systems compete, said Emily Carrier, a physician and senior health researcher at the Center for Studying Health System Change. Competition once focused on profitable services, such as orthopedics and cardiology, and offering cutting-edge technology, such as the CyberKnife Robotic Radiosurgery System. Beginning around 2007, health systems began to look to nearby and often more affluent communities. The Milwaukee area is not one of the communities in the tracking study, but the same trend can be seen in this market. Aurora Health Care spent about 0 million to build hospitals in Summit in Waukesha County and Grafton in Ozaukee County, while Wheaton Franciscan Healthcare spent million to build a hospital in Franklin and million to open an orthopedic hospital in the same building in a partnership with surgeons. For Froedtert Health, the 135,000-square-foot medical office building in New Berlin will lessen the pressure on its Wauwatosa campus, where clinic visits have increased almost 40% in the last five years. The site, at S. Moorland and W. Beloit roads, is part of a 48-acre parcel where Children's Hospital and Health System opened a pediatric outpatient clinic in 2009. Construction will begin this month and is expected to be completed late next year. The new building gives Froedtert Health and the Medical College of Wisconsin an additional presence in a suburban market. William Petasnick, chief executive of Froedtert Health, said the project is part of Froedtert Health's strategy to expand its network of primary-care clinics. That's become increasingly important for academic medical centers such as Froedtert Hospital, he said. Academic medical centers once could rely on referrals from independent primary-care physicians. But primary-care physicians now typically work for a health system and refer patients to specialists and hospitals within that system. In recent years, a joint venture of Froedtert Health and the Medical College has been buying primary-care physician practices and hiring physicians. "This is very march part of that strategy to expand our geographic region," Petasnick said. Read More

Senior Housing: New Premier Community Breaks Ground in Lake Houston Area

analyst — Fri, 13 Apr 2012 15:54:09 +0000

HOUSTON, April 12, 2012 -- Emeritus at Kingwood, a premier new senior living community, will open its doors this Fall in the beautiful Lake Houston area of Texas. This newly constructed community has been specifically designed for seniors whose needs range from assisted living and memory care, to short-term rehabilitation and long-term skilled nursing. This means that Kingwood residents will have a constant community of friends and staff, even though their health-care needs may change. Emeritus at Kingwood is now taking reservations and is hosting a free informational luncheon for the public on Friday, April 27, from Noon-1 p.m., at the Kingwood Country Club, located at 1700 Lake Kingwood Trail, Kingwood Clubhouse, Kingwood, TX 77339. Space is limited, so guests should RSVP for the luncheon by calling 281-312-4400 or emailing kingwood-ed@emeritus.com. For those who can't attend, a one-on-one appointment can be arranged. Luncheon guests will learn about this gorgeous new community with its 93 private and shared apartments, including 49 assisted living apartments, 26 memory care apartments, and 18 skilled nursing apartments. Kingwood will also feature beautiful outdoor courtyards, elegant dining rooms, and spacious and welcoming common areas. Guests will meet Kingwood's Executive Director Diann DiFrancesco, and Community Relations Director AnnMarie Handsel, and learn about all our extensive care options, including our innovative memory care program, Join Their Journey®. For more information about the community, visit www.emeritus.com/texas/houston/emeritus-kingwood . Benefits of Early Reservations Future residents can reserve an apartment for a ,000 fully refundable deposit, which gives them priority selection of their new home. The first 20 residents to reserve will become an exclusive member of the Founder's Club, which provides 0 off their monthly rent for as long as they live in the community, among other perks! Emeritus Senior Living Emeritus at Kingwood is part of Emeritus Senior Living, the nation's largest assisted living and memory care provider, with the ability to serve approximately 49,700 residents. More than 28,000 employees support 478 communities throughout 44 states coast to coast. Emeritus offers the spectrum of senior residential choices, care options and life enrichment programs that fulfill individual needs and promote purposeful living throughout the aging process. Its experts provide insights on senior living, care, wellness, brain health, caregiving and family topics at www.Emeritus.com , which also offers details on the organization's services. Emeritus' common stock is traded on the New York Stock Exchange under the symbol ESC. Contact: Diann DiFrancesco, Executive Directorkingwood-ed@emeritus.comAnnMarie Handsel, Community Relations Directorkingwood-crd@emeritus.com281-620-4642 SOURCE Emeritus Senior Living Copyright (C) 2012 PR Newswire. All rights reserved

Healthcare: Medical office – The new core asset class

analyst — Wed, 21 Mar 2012 18:55:11 +0000

q. Why is medical office an attractive asset class tolenders today? a. Medical office proved itself to be a more stable assetclass than other property types in the recent downturn.Medical office occupancy stayed at much higherlevels since hospitals, doctors and practice groupshave a high tendency to stay in place. Healthcare isn’trecession proof, but it demonstrated its recessionresistance. Investors looking for stable, predictableincome like the characteristics of healthcare realestate. Plus, a high percentage of occupancy is tiedto highly rated, investment-grade hospitals. q. What makes medical office occupancy so stable a. Think about how long the doctors you and your familygo to have been in the same place! Factors that drivecontinuity in healthcare occupancy are the significantinvestment in infrastructure for medical office andclinical space, and the synergies gained from locatingin dedicated medical office buildings and in medicalclusters close to hospitals. Healthcare is local anddemand for services is pretty continuous, no matterwhat community you’re in. READ MORE

Why is medical office an attractive asset class to

lenders today?

Houston-Based Real Estate Developer Closes More Than Million in Healthcare Property Transactions in Two Months

analyst — Thu, 09 Feb 2012 18:20:28 +0000

NEW YORK, Feb 8, 2012 (GlobeNewswire via COMTEX) -- Medistar Corporation, under the advisement of healthcare investment banking firm Hammond Hanlon Camp LLC, has completed the sale of three healthcare properties which were developed and owned by Medistar.

On January 31, 2012, Griffin-American Healthcare REIT II, Inc. closed on the purchase of the Spokane Integrated Medical Plaza, a 96,000 square foot medical office building and 395-space attached parking structure in Spokane, Washington for .5 million. The property is strategically located adjacent to the Deaconess Hospital campus. Community Health Systems and Northwest Orthopedic Specialists lease 97 percent of the building's net rentable area pursuant to long-term leases.

On December 16, 2011, Duke Realty Corporation closed on the purchase of a 36-bed short stay surgical hospital and a 53,000 square foot medical office building. The portfolio, which sold for .47 million, is located in San Antonio, Texas. The hospital is 100% leased by CHRISTUS Santa Rosa Health System, a part of CHRISTUS Health, one of the nation's largest Catholic healthcare systems. CHRISTUS Santa Rosa also leases more than 70 percent of the fully occupied, multi-tenant medical office building.

P.J. Camp, a principal with Hammond Hanlon Camp LLC, said "We were pleased to work with a very well-regarded development company in Medistar. The properties attracted interest from a wide spectrum of investors as a result of their high-quality construction and strong credit tenancy."

About Medistar Corporation

Medistar Corporation is a full-service real estate development company that specializes in the design, development, financing and construction of healthcare real estate. The company focuses on medical office buildings, integrated medical plazas and other facilities for the healthcare industry, as well as corporate developments and corporate facilities.

About Griffin-American Healthcare REIT II, Inc.

Griffin-American Healthcare REIT II, Inc. is a real estate investment firm that specializes in the acquisition and management of healthcare real estate. As a leading publicly registered non-traded real estate investment trust, the company seeks to raise up to .0 billion in equity and to acquire a diversified portfolio of healthcare-related assets focused primarily on medical office buildings, hospitals, and skilled nursing and assisted living facilities. The REIT currently owns a diverse and growing portfolio of clinical healthcare-related real estate valued in excess of 0 million. The company is based in Newport Beach, CA.

About Duke Realty Corporation

Duke Realty Corporation, a publicly traded real estate investment trust based in Indianapolis, IN, is one of the largest commercial real estate companies in the United States. Founded in 1972, the company owns and operates approximately 143 million rentable square feet of industrial, office and medical office properties in 18 major U.S. cities. Duke Realty's healthcare division has over 20 years of experience supporting hospitals and physician groups with development, ownership, leasing and management services related to healthcare real estate. Duke Realty Corporation is publicly traded on the NYSE under the symbol DRE and is listed on the S&P MidCap 400 Index.

About Hammond Hanlon Camp LLC

Hammond Hanlon Camp LLC ("H2C") is a healthcare-focused strategic advisory and investment banking firm with a particular emphasis on the not-for-profit sector. The firm traces its heritage back almost 30 years through its predecessor organizations, including Shattuck Hammond Partners. H2C's principals have served as lead advisors on transactions in the healthcare industry totaling over billion. The company is based in New York and has offices across the country in San Diego, Atlanta and Chicago. h2cllc.com

This news release was distributed by GlobeNewswire, www.globenewswire.com

SOURCE: Hammond Hanlon Camp LLC

        CONTACT: Brittany Mazin
        Hammond Hanlon Camp LLC
        Bmazin@h2cllc.com
        646-351-0970

Student Housing: Public College, Private Dorm

analyst — Tue, 31 Jan 2012 15:19:17 +0000

By RONDA KAYSEN for New York Times With state budgets tight and demand for a college education at a high point, public universities across the country are increasingly turning to the private sector to build and finance on-campus dormitories. Even before the recession, states found that companies that specialize in student housing could build residence halls more rapidly and cheaply than universities could. They can ease the burden of being a landlord. And perhaps most important, these partnerships free capital for facilities like classrooms and laboratories. But as bad economic times make these arrangements even more appealing, the new efforts raise questions about how private ownership of dorms will affect student life and costs in years to come. Public universities that have entered into or are considering such partnerships include the University of California, Irvine; Arizona State; Portland State; the University of Kentucky; and Montclair State in New Jersey, which in the fall opened the Heights, a two-tower complex with 2,000 beds and a 24,000-square-foot food court that officials say is the largest residence hall complex in the state. Private colleges and universities have been slower to embrace the concept as they have traditionally financed their student housing with endowments, philanthropy and student fees. Private colleges are less attractive to private developers because they tend to be smaller, so their housing needs are less extensive. Although proponents of private partnerships point to lower costs for construction and operation, those savings are not necessarily passed on to students. A room at the Heights, for example, costs about ,000 more a semester than a room in Montclair State’s other dorms. “These things are often sold as savings, but they don’t often result in savings,” said Edward P. St. John, an education professor at the University of Michigan and an editor of “Privatization and Public Universities,” published in 2006. Montclair State officials point to additional amenities available at the Heights and its mint condition as reasons for the premium price tag. A committee of university officials and employees of Capstone Development Partners, the builder, will determine the cost each year. Capstone developed the Heights, enlisting the Provident Resources Group, a nonprofit organization, to finance the 1 million project with tax-exempt bonds issued by the New Jersey Economic Development Authority. Capstone will manage it for the next 40 years or until the bonds are paid off and the title reverts to the university. The university will retain authority over student conduct within. Montclair State previously financed its capital projects with tax-exempt municipal bonds. But after a decade of ambitious construction projects, the university had a lot of debt. The New Jersey Economic Stimulus Act of 2009 gave it the authority to enter into a partnership with a private firm. “We needed to provide housing for our students, and we needed to find a way to do it,” said Susan A. Cole, the president of Montclair State. Private developers have long had an interest in student housing. As student populations surged in the decades after World War II, universities quickly built out their own campuses, and builders responded with inexpensive, bare-bones low-rise and garden apartments. Read More

Healthcare: Griffin-American Pays 4.3M for 11 Properties in 5 States

analyst — Wed, 18 Jan 2012 17:29:46 +0000

ATLANTA - In a 4.3 million transaction, Griffin-American Healthcare REIT II has scooped up 10 skilled nursing facilities with 1,364 beds in Georgia, Tennessee, Louisiana and Alabama plus a 60,000-square-foot medical office building in Texas. Patrick Hurst, Matt Ryan and Michael Hoagberg of Houlihan Lokey represented Wellington Healthcare Services LP in its disposition of the skilled nursing centers. Chris Bodnar of CB Richard Ellis represented PHT Investment Holdings LLC in the sale of the Sierra Providence East Medical Plaza I in El Paso. Georgia has the largest concentration in the portfolio - six nursing facilities in Gainesville, Snellville, Covington, Conyers and two in Atlanta. Formerly Grubb & Ellis Healthcare REIT II, the California-based buyer's medical office property is part of the 42-acre campus of the 110-bed Sierra Providence East Medical Center. The three-story medical office building, delivered in 2008, is 90 percent leased to 13 tenants, including the medical campus' owner, Dallas-based Tenet Healthcare. The nursing facilities total 454,000 square feet in designs ranging from 20,000 square feet to 77,000 square feet. The 10 buildings, developed between 1969 and 1999, are master leased through 2027 by Wellington affiliates. The Georgia properties are: • Bell Minor Facility: 2200 Old Hamilton Place NE, Gainesville. A single-story, 104-bed property totaling 39,000 square feet. • Buckhead Facility: 2920 Pharr Court South, Atlanta. A five-story, 220-bed property totaling 77,000 square feet. • New London Facility: 2020 McGee Road, Snellville. A single-story, 144-bed property totaling 45,000 square feet. • Riverside Facility: 5100 West St., Covington. A single-story, 158-bed property totaling 42,000 square feet. • Rockdale Facility: 1510 Renaissance Drive, Conyers. A single-story, 102-bed property totaling 48,000 square feet. • Westminster Facility: 560 St. Charles Ave. NE, Atlanta. A two-story, 84-bed property totaling 20,000 square feet. In Tennessee, Griffin-American Healthcare REIT acquired an 85-bed, 33,000-square-foot nursing facility at 5081 Easley St., in Millington and a 120-bed, 38,000-square-foot Parkway facility at 200 S. Parkway West in Memphis. The Alabama purchase was the 120-bed, 46,000-square-foot Sea Breeze facility at 550 Congress St. in Mobile. In Louisiana, the buyer took the deed to a 227-bed, 66,000-square-foot facility at 1736, Irving Place in Shreveport. The portfolio deal closed with the buyer assuming nine separate U.S. Housing and Urban Development loans totaling .5 million and a .7 million loan with Capital Funding Group; drawing down .4 million from its line of credit with Bank of America; million in borrowings under a line of credit with KeyBank; and net cash proceeds received from its offering. The REIT financed the medical office building with cash proceeds from its offering, which has reaped about 2.85 million since its launch in late December.

Healthcare: Steward to sell, lease back Northwoods Medical Center in Taunton

analyst — Mon, 23 Apr 2012 20:06:19 +0000

New York City Real Estate

Healthcare: DaVita Anchored MOB Sells For .7M

analyst — Mon, 23 Apr 2012 20:02:55 +0000

Healthcare: Steward Health Care System confirms sale-lease-back of medical buildings

analyst — Mon, 23 Apr 2012 20:00:56 +0000

Healthcare: Froedtert Health courts customers in affluent areas

analyst — Mon, 23 Apr 2012 19:50:32 +0000

Senior Housing: New Premier Community Breaks Ground in Lake Houston Area

analyst — Fri, 13 Apr 2012 15:54:09 +0000

Healthcare: Medical office – The new core asset class

analyst — Wed, 21 Mar 2012 18:55:11 +0000

Why is medical office an attractive asset class to

lenders today?

Houston-Based Real Estate Developer Closes More Than Million in Healthcare Property Transactions in Two Months

analyst — Thu, 09 Feb 2012 18:20:28 +0000

About Medistar Corporation

About Griffin-American Healthcare REIT II, Inc.

About Duke Realty Corporation

About Hammond Hanlon Camp LLC

This news release was distributed by GlobeNewswire, www.globenewswire.com

SOURCE: Hammond Hanlon Camp LLC

        CONTACT: Brittany Mazin
        Hammond Hanlon Camp LLC
        Bmazin@h2cllc.com
        646-351-0970

Student Housing: Public College, Private Dorm

analyst — Tue, 31 Jan 2012 15:19:17 +0000

Healthcare: Griffin-American Pays 4.3M for 11 Properties in 5 States

analyst — Wed, 18 Jan 2012 17:29:46 +0000

Healthcare: Steward to sell, lease back Northwoods Medical Center in Taunton

analyst — Mon, 23 Apr 2012 20:06:19 +0000

BlackSwan Zine

analyst — Mon, 23 Apr 2012 20:06:19 +0000

New York City Real Estate

Healthcare: DaVita Anchored MOB Sells For .7M

analyst — Mon, 23 Apr 2012 20:02:55 +0000

Healthcare: Steward Health Care System confirms sale-lease-back of medical buildings

analyst — Mon, 23 Apr 2012 20:00:56 +0000

Healthcare: Froedtert Health courts customers in affluent areas

analyst — Mon, 23 Apr 2012 19:50:32 +0000

Senior Housing: New Premier Community Breaks Ground in Lake Houston Area

analyst — Fri, 13 Apr 2012 15:54:09 +0000

Healthcare: Medical office – The new core asset class

analyst — Wed, 21 Mar 2012 18:55:11 +0000

Why is medical office an attractive asset class to

lenders today?

Houston-Based Real Estate Developer Closes More Than Million in Healthcare Property Transactions in Two Months

analyst — Thu, 09 Feb 2012 18:20:28 +0000

About Medistar Corporation

About Griffin-American Healthcare REIT II, Inc.

About Duke Realty Corporation

About Hammond Hanlon Camp LLC

This news release was distributed by GlobeNewswire, www.globenewswire.com

SOURCE: Hammond Hanlon Camp LLC

        CONTACT: Brittany Mazin
        Hammond Hanlon Camp LLC
        Bmazin@h2cllc.com
        646-351-0970

Student Housing: Public College, Private Dorm

analyst — Tue, 31 Jan 2012 15:19:17 +0000

Healthcare: Griffin-American Pays 4.3M for 11 Properties in 5 States

analyst — Wed, 18 Jan 2012 17:29:46 +0000

Healthcare: Steward to sell, lease back Northwoods Medical Center in Taunton

analyst — Mon, 23 Apr 2012 20:02:55 +0000

CH Castor LP purchased the medical office building at 7198 Castor Ave. in Philadelphia, PA from an LP for $3.7 million, or about $167 per square foot. The 22,139-square-foot building was constructed in 1950 with a complete renovation in 2010. It is in the Northeast Philadelphia submarket and was fully-leased to multiple tenants including DaVita Dialysis at the time of sale. Matt Gorman and Michael Shover of Marcus & Millichap represented the seller and the buyer. Read More

BlackSwan Zine

analyst — Mon, 23 Apr 2012 20:06:19 +0000

New York City Real Estate

Healthcare: DaVita Anchored MOB Sells For .7M

analyst — Mon, 23 Apr 2012 20:02:55 +0000

Healthcare: Steward Health Care System confirms sale-lease-back of medical buildings

analyst — Mon, 23 Apr 2012 20:00:56 +0000

Healthcare: Froedtert Health courts customers in affluent areas

analyst — Mon, 23 Apr 2012 19:50:32 +0000

Senior Housing: New Premier Community Breaks Ground in Lake Houston Area

analyst — Fri, 13 Apr 2012 15:54:09 +0000

Healthcare: Medical office – The new core asset class

analyst — Wed, 21 Mar 2012 18:55:11 +0000

Why is medical office an attractive asset class to

lenders today?

Houston-Based Real Estate Developer Closes More Than Million in Healthcare Property Transactions in Two Months

analyst — Thu, 09 Feb 2012 18:20:28 +0000

About Medistar Corporation

About Griffin-American Healthcare REIT II, Inc.

About Duke Realty Corporation

About Hammond Hanlon Camp LLC

This news release was distributed by GlobeNewswire, www.globenewswire.com

SOURCE: Hammond Hanlon Camp LLC

        CONTACT: Brittany Mazin
        Hammond Hanlon Camp LLC
        Bmazin@h2cllc.com
        646-351-0970

Student Housing: Public College, Private Dorm

analyst — Tue, 31 Jan 2012 15:19:17 +0000

Healthcare: Griffin-American Pays 4.3M for 11 Properties in 5 States

analyst — Wed, 18 Jan 2012 17:29:46 +0000

Healthcare: Steward to sell, lease back Northwoods Medical Center in Taunton

analyst — Mon, 23 Apr 2012 20:00:56 +0000

By Charles Winokoor for Taunton Gazette Taunton — Steward Health Care System, the for-profit medical group that owns Taunton’s Morton Hospital and Saint Anne’s Hospital in Fall River, has sold off a portfolio consisting of 13 medical office buildings worth approximately $100 million. Steward spokesman Chris Murphy confirmed Tuesday that the lease-back agreement with Arizona-based Healthcare Trust of America includes Taunton’s Northwoods Medical Center at 2007 Bay St., as well as a Saint Anne’s-affiliated building. Murphy last November told the Taunton Daily Gazette the sale-lease-back of Northwoods was intended to raise capital for making improvements in the 10 hospitals the Boston-based business has purchased during the past two years. “All proceeds from the sale are going to be re-invested into improvements,” he reiterated on Tuesday. Murphy said the announcement of the sale having gone through at the end of March didn’t generate immediate media attention, because it was only posted as an online press release by Business Wire. A spokeswoman for Heathcare Trust, when contacted by phone to identify the address of the Fall River building, said the real-estate investment firm doesn’t comment on press releases. Healthcare Trust was formed in 2006 and, according to its website, has accumulated an acquisition portfolio of $2.5 billion. Steward Health Care Systems is owned by private equity firm Cerberus Capital Management of Manhattan. Read more

BlackSwan Zine

analyst — Mon, 23 Apr 2012 20:06:19 +0000

New York City Real Estate

Healthcare: DaVita Anchored MOB Sells For .7M

analyst — Mon, 23 Apr 2012 20:02:55 +0000

Healthcare: Steward Health Care System confirms sale-lease-back of medical buildings

analyst — Mon, 23 Apr 2012 20:00:56 +0000

Healthcare: Froedtert Health courts customers in affluent areas

analyst — Mon, 23 Apr 2012 19:50:32 +0000

Senior Housing: New Premier Community Breaks Ground in Lake Houston Area

analyst — Fri, 13 Apr 2012 15:54:09 +0000

Healthcare: Medical office – The new core asset class

analyst — Wed, 21 Mar 2012 18:55:11 +0000

Why is medical office an attractive asset class to

lenders today?

Houston-Based Real Estate Developer Closes More Than Million in Healthcare Property Transactions in Two Months

analyst — Thu, 09 Feb 2012 18:20:28 +0000

About Medistar Corporation

About Griffin-American Healthcare REIT II, Inc.

About Duke Realty Corporation

About Hammond Hanlon Camp LLC

This news release was distributed by GlobeNewswire, www.globenewswire.com

SOURCE: Hammond Hanlon Camp LLC

        CONTACT: Brittany Mazin
        Hammond Hanlon Camp LLC
        Bmazin@h2cllc.com
        646-351-0970

Student Housing: Public College, Private Dorm

analyst — Tue, 31 Jan 2012 15:19:17 +0000

Healthcare: Griffin-American Pays 4.3M for 11 Properties in 5 States

analyst — Wed, 18 Jan 2012 17:29:46 +0000

Healthcare: Steward to sell, lease back Northwoods Medical Center in Taunton

analyst — Mon, 23 Apr 2012 19:50:32 +0000

By Guy Boulton for the Journal Sentinel The $45 million medical office building that Froedtert Health plans to build in New Berlin is the most recent example of the competition among health systems for suburban patients. That trend is well-established in the Milwaukee area, and it is becoming increasingly common throughout the country, according to a study published this month in Health Affairs, a health policy journal. Health systems are competing for insured patients through targeted expansions in more affluent communities by building hospitals and clinics and by buying physician practices, according to a long-running tracking study of 12 large metropolitan communities by the Center for Studying Health System Change. The strategy is a shift in how hospitals and health systems compete, said Emily Carrier, a physician and senior health researcher at the Center for Studying Health System Change. Competition once focused on profitable services, such as orthopedics and cardiology, and offering cutting-edge technology, such as the CyberKnife Robotic Radiosurgery System. Beginning around 2007, health systems began to look to nearby and often more affluent communities. The Milwaukee area is not one of the communities in the tracking study, but the same trend can be seen in this market. Aurora Health Care spent about $500 million to build hospitals in Summit in Waukesha County and Grafton in Ozaukee County, while Wheaton Franciscan Healthcare spent $89 million to build a hospital in Franklin and $39 million to open an orthopedic hospital in the same building in a partnership with surgeons. For Froedtert Health, the 135,000-square-foot medical office building in New Berlin will lessen the pressure on its Wauwatosa campus, where clinic visits have increased almost 40% in the last five years. The site, at S. Moorland and W. Beloit roads, is part of a 48-acre parcel where Children's Hospital and Health System opened a pediatric outpatient clinic in 2009. Construction will begin this month and is expected to be completed late next year. The new building gives Froedtert Health and the Medical College of Wisconsin an additional presence in a suburban market. William Petasnick, chief executive of Froedtert Health, said the project is part of Froedtert Health's strategy to expand its network of primary-care clinics. That's become increasingly important for academic medical centers such as Froedtert Hospital, he said. Academic medical centers once could rely on referrals from independent primary-care physicians. But primary-care physicians now typically work for a health system and refer patients to specialists and hospitals within that system. In recent years, a joint venture of Froedtert Health and the Medical College has been buying primary-care physician practices and hiring physicians. "This is very march part of that strategy to expand our geographic region," Petasnick said. Read More

BlackSwan Zine

analyst — Mon, 23 Apr 2012 20:06:19 +0000

New York City Real Estate

Healthcare: DaVita Anchored MOB Sells For .7M

analyst — Mon, 23 Apr 2012 20:02:55 +0000

Healthcare: Steward Health Care System confirms sale-lease-back of medical buildings

analyst — Mon, 23 Apr 2012 20:00:56 +0000

Healthcare: Froedtert Health courts customers in affluent areas

analyst — Mon, 23 Apr 2012 19:50:32 +0000

Senior Housing: New Premier Community Breaks Ground in Lake Houston Area

analyst — Fri, 13 Apr 2012 15:54:09 +0000

Healthcare: Medical office – The new core asset class

analyst — Wed, 21 Mar 2012 18:55:11 +0000

Why is medical office an attractive asset class to

lenders today?

Houston-Based Real Estate Developer Closes More Than Million in Healthcare Property Transactions in Two Months

analyst — Thu, 09 Feb 2012 18:20:28 +0000

About Medistar Corporation

About Griffin-American Healthcare REIT II, Inc.

About Duke Realty Corporation

About Hammond Hanlon Camp LLC

This news release was distributed by GlobeNewswire, www.globenewswire.com

SOURCE: Hammond Hanlon Camp LLC

        CONTACT: Brittany Mazin
        Hammond Hanlon Camp LLC
        Bmazin@h2cllc.com
        646-351-0970

Student Housing: Public College, Private Dorm

analyst — Tue, 31 Jan 2012 15:19:17 +0000

Healthcare: Griffin-American Pays 4.3M for 11 Properties in 5 States

analyst — Wed, 18 Jan 2012 17:29:46 +0000

Healthcare: Steward to sell, lease back Northwoods Medical Center in Taunton

analyst — Fri, 13 Apr 2012 15:54:09 +0000

HOUSTON, April 12, 2012 -- Emeritus at Kingwood, a premier new senior living community, will open its doors this Fall in the beautiful Lake Houston area of Texas. This newly constructed community has been specifically designed for seniors whose needs range from assisted living and memory care, to short-term rehabilitation and long-term skilled nursing. This means that Kingwood residents will have a constant community of friends and staff, even though their health-care needs may change. Emeritus at Kingwood is now taking reservations and is hosting a free informational luncheon for the public on Friday, April 27, from Noon-1 p.m., at the Kingwood Country Club, located at 1700 Lake Kingwood Trail, Kingwood Clubhouse, Kingwood, TX 77339. Space is limited, so guests should RSVP for the luncheon by calling 281-312-4400 or emailing kingwood-ed@emeritus.com. For those who can't attend, a one-on-one appointment can be arranged. Luncheon guests will learn about this gorgeous new community with its 93 private and shared apartments, including 49 assisted living apartments, 26 memory care apartments, and 18 skilled nursing apartments. Kingwood will also feature beautiful outdoor courtyards, elegant dining rooms, and spacious and welcoming common areas. Guests will meet Kingwood's Executive Director Diann DiFrancesco, and Community Relations Director AnnMarie Handsel, and learn about all our extensive care options, including our innovative memory care program, Join Their Journey®. For more information about the community, visit www.emeritus.com/texas/houston/emeritus-kingwood . Benefits of Early Reservations Future residents can reserve an apartment for a $1,000 fully refundable deposit, which gives them priority selection of their new home. The first 20 residents to reserve will become an exclusive member of the Founder's Club, which provides $200 off their monthly rent for as long as they live in the community, among other perks! Emeritus Senior Living Emeritus at Kingwood is part of Emeritus Senior Living, the nation's largest assisted living and memory care provider, with the ability to serve approximately 49,700 residents. More than 28,000 employees support 478 communities throughout 44 states coast to coast. Emeritus offers the spectrum of senior residential choices, care options and life enrichment programs that fulfill individual needs and promote purposeful living throughout the aging process. Its experts provide insights on senior living, care, wellness, brain health, caregiving and family topics at www.Emeritus.com , which also offers details on the organization's services. Emeritus' common stock is traded on the New York Stock Exchange under the symbol ESC. Contact: Diann DiFrancesco, Executive Directorkingwood-ed@emeritus.comAnnMarie Handsel, Community Relations Directorkingwood-crd@emeritus.com281-620-4642 SOURCE Emeritus Senior Living Copyright (C) 2012 PR Newswire. All rights reserved

BlackSwan Zine

analyst — Mon, 23 Apr 2012 20:06:19 +0000

New York City Real Estate

Healthcare: DaVita Anchored MOB Sells For .7M

analyst — Mon, 23 Apr 2012 20:02:55 +0000

Healthcare: Steward Health Care System confirms sale-lease-back of medical buildings

analyst — Mon, 23 Apr 2012 20:00:56 +0000

Healthcare: Froedtert Health courts customers in affluent areas

analyst — Mon, 23 Apr 2012 19:50:32 +0000

Senior Housing: New Premier Community Breaks Ground in Lake Houston Area

analyst — Fri, 13 Apr 2012 15:54:09 +0000

Healthcare: Medical office – The new core asset class

analyst — Wed, 21 Mar 2012 18:55:11 +0000

Why is medical office an attractive asset class to

lenders today?

Houston-Based Real Estate Developer Closes More Than Million in Healthcare Property Transactions in Two Months

analyst — Thu, 09 Feb 2012 18:20:28 +0000

About Medistar Corporation

About Griffin-American Healthcare REIT II, Inc.

About Duke Realty Corporation

About Hammond Hanlon Camp LLC

This news release was distributed by GlobeNewswire, www.globenewswire.com

SOURCE: Hammond Hanlon Camp LLC

        CONTACT: Brittany Mazin
        Hammond Hanlon Camp LLC
        Bmazin@h2cllc.com
        646-351-0970

Student Housing: Public College, Private Dorm

analyst — Tue, 31 Jan 2012 15:19:17 +0000

Healthcare: Griffin-American Pays 4.3M for 11 Properties in 5 States

analyst — Wed, 18 Jan 2012 17:29:46 +0000

Healthcare: Steward to sell, lease back Northwoods Medical Center in Taunton

analyst — Wed, 21 Mar 2012 18:55:11 +0000

Why is medical office an attractive asset class to

lenders today?

BlackSwan Zine

analyst — Mon, 23 Apr 2012 20:06:19 +0000

New York City Real Estate

Healthcare: DaVita Anchored MOB Sells For .7M

analyst — Mon, 23 Apr 2012 20:02:55 +0000

Healthcare: Steward Health Care System confirms sale-lease-back of medical buildings

analyst — Mon, 23 Apr 2012 20:00:56 +0000

Healthcare: Froedtert Health courts customers in affluent areas

analyst — Mon, 23 Apr 2012 19:50:32 +0000

Senior Housing: New Premier Community Breaks Ground in Lake Houston Area

analyst — Fri, 13 Apr 2012 15:54:09 +0000

Healthcare: Medical office – The new core asset class

analyst — Wed, 21 Mar 2012 18:55:11 +0000

Why is medical office an attractive asset class to

lenders today?

Houston-Based Real Estate Developer Closes More Than Million in Healthcare Property Transactions in Two Months

analyst — Thu, 09 Feb 2012 18:20:28 +0000

About Medistar Corporation

About Griffin-American Healthcare REIT II, Inc.

About Duke Realty Corporation

About Hammond Hanlon Camp LLC

This news release was distributed by GlobeNewswire, www.globenewswire.com

SOURCE: Hammond Hanlon Camp LLC

        CONTACT: Brittany Mazin
        Hammond Hanlon Camp LLC
        Bmazin@h2cllc.com
        646-351-0970

Student Housing: Public College, Private Dorm

analyst — Tue, 31 Jan 2012 15:19:17 +0000

Healthcare: Griffin-American Pays 4.3M for 11 Properties in 5 States

analyst — Wed, 18 Jan 2012 17:29:46 +0000

Healthcare: Steward to sell, lease back Northwoods Medical Center in Taunton

analyst — Thu, 09 Feb 2012 18:20:28 +0000

On January 31, 2012, Griffin-American Healthcare REIT II, Inc. closed on the purchase of the Spokane Integrated Medical Plaza, a 96,000 square foot medical office building and 395-space attached parking structure in Spokane, Washington for $32.5 million. The property is strategically located adjacent to the Deaconess Hospital campus. Community Health Systems and Northwest Orthopedic Specialists lease 97 percent of the building's net rentable area pursuant to long-term leases.

On December 16, 2011, Duke Realty Corporation closed on the purchase of a 36-bed short stay surgical hospital and a 53,000 square foot medical office building. The portfolio, which sold for $43.47 million, is located in San Antonio, Texas. The hospital is 100% leased by CHRISTUS Santa Rosa Health System, a part of CHRISTUS Health, one of the nation's largest Catholic healthcare systems. CHRISTUS Santa Rosa also leases more than 70 percent of the fully occupied, multi-tenant medical office building.

About Medistar Corporation

About Griffin-American Healthcare REIT II, Inc.

Griffin-American Healthcare REIT II, Inc. is a real estate investment firm that specializes in the acquisition and management of healthcare real estate. As a leading publicly registered non-traded real estate investment trust, the company seeks to raise up to $3.0 billion in equity and to acquire a diversified portfolio of healthcare-related assets focused primarily on medical office buildings, hospitals, and skilled nursing and assisted living facilities. The REIT currently owns a diverse and growing portfolio of clinical healthcare-related real estate valued in excess of $600 million. The company is based in Newport Beach, CA.

About Duke Realty Corporation

About Hammond Hanlon Camp LLC

Hammond Hanlon Camp LLC ("H2C") is a healthcare-focused strategic advisory and investment banking firm with a particular emphasis on the not-for-profit sector. The firm traces its heritage back almost 30 years through its predecessor organizations, including Shattuck Hammond Partners. H2C's principals have served as lead advisors on transactions in the healthcare industry totaling over $30 billion. The company is based in New York and has offices across the country in San Diego, Atlanta and Chicago. h2cllc.com

This news release was distributed by GlobeNewswire, www.globenewswire.com

SOURCE: Hammond Hanlon Camp LLC

        CONTACT: Brittany Mazin
        Hammond Hanlon Camp LLC
        Bmazin@h2cllc.com
        646-351-0970

BlackSwan Zine

analyst — Mon, 23 Apr 2012 20:06:19 +0000

New York City Real Estate

Healthcare: DaVita Anchored MOB Sells For .7M

analyst — Mon, 23 Apr 2012 20:02:55 +0000

Healthcare: Steward Health Care System confirms sale-lease-back of medical buildings

analyst — Mon, 23 Apr 2012 20:00:56 +0000

Healthcare: Froedtert Health courts customers in affluent areas

analyst — Mon, 23 Apr 2012 19:50:32 +0000

Senior Housing: New Premier Community Breaks Ground in Lake Houston Area

analyst — Fri, 13 Apr 2012 15:54:09 +0000

Healthcare: Medical office – The new core asset class

analyst — Wed, 21 Mar 2012 18:55:11 +0000

Why is medical office an attractive asset class to

lenders today?

Houston-Based Real Estate Developer Closes More Than Million in Healthcare Property Transactions in Two Months

analyst — Thu, 09 Feb 2012 18:20:28 +0000

About Medistar Corporation

About Griffin-American Healthcare REIT II, Inc.

About Duke Realty Corporation

About Hammond Hanlon Camp LLC

This news release was distributed by GlobeNewswire, www.globenewswire.com

SOURCE: Hammond Hanlon Camp LLC

        CONTACT: Brittany Mazin
        Hammond Hanlon Camp LLC
        Bmazin@h2cllc.com
        646-351-0970

Student Housing: Public College, Private Dorm

analyst — Tue, 31 Jan 2012 15:19:17 +0000

Healthcare: Griffin-American Pays 4.3M for 11 Properties in 5 States

analyst — Wed, 18 Jan 2012 17:29:46 +0000

Healthcare: Steward to sell, lease back Northwoods Medical Center in Taunton

analyst — Tue, 31 Jan 2012 15:19:17 +0000

By RONDA KAYSEN for New York Times With state budgets tight and demand for a college education at a high point, public universities across the country are increasingly turning to the private sector to build and finance on-campus dormitories. Even before the recession, states found that companies that specialize in student housing could build residence halls more rapidly and cheaply than universities could. They can ease the burden of being a landlord. And perhaps most important, these partnerships free capital for facilities like classrooms and laboratories. But as bad economic times make these arrangements even more appealing, the new efforts raise questions about how private ownership of dorms will affect student life and costs in years to come. Public universities that have entered into or are considering such partnerships include the University of California, Irvine; Arizona State; Portland State; the University of Kentucky; and Montclair State in New Jersey, which in the fall opened the Heights, a two-tower complex with 2,000 beds and a 24,000-square-foot food court that officials say is the largest residence hall complex in the state. Private colleges and universities have been slower to embrace the concept as they have traditionally financed their student housing with endowments, philanthropy and student fees. Private colleges are less attractive to private developers because they tend to be smaller, so their housing needs are less extensive. Although proponents of private partnerships point to lower costs for construction and operation, those savings are not necessarily passed on to students. A room at the Heights, for example, costs about $1,000 more a semester than a room in Montclair State’s other dorms. “These things are often sold as savings, but they don’t often result in savings,” said Edward P. St. John, an education professor at the University of Michigan and an editor of “Privatization and Public Universities,” published in 2006. Montclair State officials point to additional amenities available at the Heights and its mint condition as reasons for the premium price tag. A committee of university officials and employees of Capstone Development Partners, the builder, will determine the cost each year. Capstone developed the Heights, enlisting the Provident Resources Group, a nonprofit organization, to finance the $211 million project with tax-exempt bonds issued by the New Jersey Economic Development Authority. Capstone will manage it for the next 40 years or until the bonds are paid off and the title reverts to the university. The university will retain authority over student conduct within. Montclair State previously financed its capital projects with tax-exempt municipal bonds. But after a decade of ambitious construction projects, the university had a lot of debt. The New Jersey Economic Stimulus Act of 2009 gave it the authority to enter into a partnership with a private firm. “We needed to provide housing for our students, and we needed to find a way to do it,” said Susan A. Cole, the president of Montclair State. Private developers have long had an interest in student housing. As student populations surged in the decades after World War II, universities quickly built out their own campuses, and builders responded with inexpensive, bare-bones low-rise and garden apartments. Read More

BlackSwan Zine

analyst — Mon, 23 Apr 2012 20:06:19 +0000

New York City Real Estate

Healthcare: DaVita Anchored MOB Sells For .7M

analyst — Mon, 23 Apr 2012 20:02:55 +0000

Healthcare: Steward Health Care System confirms sale-lease-back of medical buildings

analyst — Mon, 23 Apr 2012 20:00:56 +0000

Healthcare: Froedtert Health courts customers in affluent areas

analyst — Mon, 23 Apr 2012 19:50:32 +0000

Senior Housing: New Premier Community Breaks Ground in Lake Houston Area

analyst — Fri, 13 Apr 2012 15:54:09 +0000

Healthcare: Medical office – The new core asset class

analyst — Wed, 21 Mar 2012 18:55:11 +0000

Why is medical office an attractive asset class to

lenders today?

Houston-Based Real Estate Developer Closes More Than Million in Healthcare Property Transactions in Two Months

analyst — Thu, 09 Feb 2012 18:20:28 +0000

About Medistar Corporation

About Griffin-American Healthcare REIT II, Inc.

About Duke Realty Corporation

About Hammond Hanlon Camp LLC

This news release was distributed by GlobeNewswire, www.globenewswire.com

SOURCE: Hammond Hanlon Camp LLC

        CONTACT: Brittany Mazin
        Hammond Hanlon Camp LLC
        Bmazin@h2cllc.com
        646-351-0970

Student Housing: Public College, Private Dorm

analyst — Tue, 31 Jan 2012 15:19:17 +0000

Healthcare: Griffin-American Pays 4.3M for 11 Properties in 5 States

analyst — Wed, 18 Jan 2012 17:29:46 +0000

Healthcare: Steward to sell, lease back Northwoods Medical Center in Taunton

analyst — Wed, 18 Jan 2012 17:29:46 +0000

ATLANTA - In a $174.3 million transaction, Griffin-American Healthcare REIT II has scooped up 10 skilled nursing facilities with 1,364 beds in Georgia, Tennessee, Louisiana and Alabama plus a 60,000-square-foot medical office building in Texas. Patrick Hurst, Matt Ryan and Michael Hoagberg of Houlihan Lokey represented Wellington Healthcare Services LP in its disposition of the skilled nursing centers. Chris Bodnar of CB Richard Ellis represented PHT Investment Holdings LLC in the sale of the Sierra Providence East Medical Plaza I in El Paso. Georgia has the largest concentration in the portfolio - six nursing facilities in Gainesville, Snellville, Covington, Conyers and two in Atlanta. Formerly Grubb & Ellis Healthcare REIT II, the California-based buyer's medical office property is part of the 42-acre campus of the 110-bed Sierra Providence East Medical Center. The three-story medical office building, delivered in 2008, is 90 percent leased to 13 tenants, including the medical campus' owner, Dallas-based Tenet Healthcare. The nursing facilities total 454,000 square feet in designs ranging from 20,000 square feet to 77,000 square feet. The 10 buildings, developed between 1969 and 1999, are master leased through 2027 by Wellington affiliates. The Georgia properties are: • Bell Minor Facility: 2200 Old Hamilton Place NE, Gainesville. A single-story, 104-bed property totaling 39,000 square feet. • Buckhead Facility: 2920 Pharr Court South, Atlanta. A five-story, 220-bed property totaling 77,000 square feet. • New London Facility: 2020 McGee Road, Snellville. A single-story, 144-bed property totaling 45,000 square feet. • Riverside Facility: 5100 West St., Covington. A single-story, 158-bed property totaling 42,000 square feet. • Rockdale Facility: 1510 Renaissance Drive, Conyers. A single-story, 102-bed property totaling 48,000 square feet. • Westminster Facility: 560 St. Charles Ave. NE, Atlanta. A two-story, 84-bed property totaling 20,000 square feet. In Tennessee, Griffin-American Healthcare REIT acquired an 85-bed, 33,000-square-foot nursing facility at 5081 Easley St., in Millington and a 120-bed, 38,000-square-foot Parkway facility at 200 S. Parkway West in Memphis. The Alabama purchase was the 120-bed, 46,000-square-foot Sea Breeze facility at 550 Congress St. in Mobile. In Louisiana, the buyer took the deed to a 227-bed, 66,000-square-foot facility at 1736, Irving Place in Shreveport. The portfolio deal closed with the buyer assuming nine separate U.S. Housing and Urban Development loans totaling $70.5 million and a $12.7 million loan with Capital Funding Group; drawing down $38.4 million from its line of credit with Bank of America; $20 million in borrowings under a line of credit with KeyBank; and net cash proceeds received from its offering. The REIT financed the medical office building with cash proceeds from its offering, which has reaped about $472.85 million since its launch in late December.

BlackSwan Zine

analyst — Mon, 23 Apr 2012 20:06:19 +0000

New York City Real Estate

Healthcare: DaVita Anchored MOB Sells For .7M

analyst — Mon, 23 Apr 2012 20:02:55 +0000

Healthcare: Steward Health Care System confirms sale-lease-back of medical buildings

analyst — Mon, 23 Apr 2012 20:00:56 +0000

Healthcare: Froedtert Health courts customers in affluent areas

analyst — Mon, 23 Apr 2012 19:50:32 +0000

Senior Housing: New Premier Community Breaks Ground in Lake Houston Area

analyst — Fri, 13 Apr 2012 15:54:09 +0000

Healthcare: Medical office – The new core asset class

analyst — Wed, 21 Mar 2012 18:55:11 +0000

Why is medical office an attractive asset class to

lenders today?

Houston-Based Real Estate Developer Closes More Than Million in Healthcare Property Transactions in Two Months

analyst — Thu, 09 Feb 2012 18:20:28 +0000

About Medistar Corporation

About Griffin-American Healthcare REIT II, Inc.

About Duke Realty Corporation

About Hammond Hanlon Camp LLC

This news release was distributed by GlobeNewswire, www.globenewswire.com

SOURCE: Hammond Hanlon Camp LLC

        CONTACT: Brittany Mazin
        Hammond Hanlon Camp LLC
        Bmazin@h2cllc.com
        646-351-0970

Student Housing: Public College, Private Dorm

analyst — Tue, 31 Jan 2012 15:19:17 +0000

Healthcare: Griffin-American Pays 4.3M for 11 Properties in 5 States

analyst — Wed, 18 Jan 2012 17:29:46 +0000

Healthcare: Steward to sell, lease back Northwoods Medical Center in Taunton

analyst — Thu, 24 Nov 2011 04:50:35 +0000

By Charles Winokoor Taunton —Steward Health Care System — the Boston-based for-profit medical group that purchased the former Morton Hospital and Medical Center this year — intends to sell and lease back the Taunton hospital’s Northwoods Medical Center building at 2007 Bay Street. The decision to sell the building — adjacent to a plaza with BJ’s Wholesale Club and other businesses and restaurants — is part of a sale-leaseback strategy involving 11 medical buildings in the state, including two buildings formerly owned by St. Anne’s Hospital in Fall River. “Technically it’s not a sale,” said Chris Murphy, spokesman for Steward. “It’s not like putting your house up for sale — it doesn’t get listed into a data base.” What it does do, Murphy said, is produce a lump sum of capital to invest back into the 10 hospitals Steward has bought since the firm was formed in 2010. In the case of Morton, that entails a commitment to invest at least $110 million over 10 years with more than $25 million coming within the first year. In addition to technological improvements, Steward has agreed to eliminate $30.5 million of the formerly non-profit hospital’s unfunded liability debt, as well as repayment of $28 million in long-term debt. “We’ve begun the process,” of approaching investors for a leaseback deal, Murphy said. He declined, however, to estimate an asking price for the Bay Street property, formerly owned by Morton Property Inc. The building at 2007 Bay St., according to the city assessor’s online data base, is valued at $5.25 million; the land has an assessed value of $1.07 million. Murphy said the eventual sale-leaseback “will be invisible to the average patient” and will not create any disruption of patient care and physician services. “There will be no change in MOBs (medical office buildings),” he added. Murphy said Steward’s move is part of a national trend by operators of health care facilities looking to raise long-term capital. He declined to specify the length of any future agreement of a sale-leaseback of Northwoods, other than to say that it will be for “decades.” Murphy said it’s too soon to speculate if Steward will make it possible to reinstate the former Occupational Health Services, a program at Northwoods previously eliminated by Morton in order to save money. “We’re now evaluating and prioritizing the hospital,” he said. Dick Shafer, Taunton’s director of economic development, said sale-leaseback deals are commonplace in the world of mid to large companies. He said one need look no further than the former Morton Hospital and Medical Center, which previously entered into a sale-leaseback deal with Atlas Investment Group for its Mill River Place medical building. “It can be a good real estate deal as long as you’ve got the tenants,” Shafer said. Murphy said with approximately 2,500 doctors in its physicians network, Steward is in a position to sustain and fill any vacancies in buildings that have been sold and leased back. “We have a very reliable pool of tenants,” he said. Steward Health Care System is owned by Cerberus Capital Management, a private equity firm. Murphy said Steward’s purpose is to manage and operate hospitals, invest in infrastructure and recruit doctors. All the more reason, he added, that selling and leasing back secondary properties makes sense. “We’re not in the real estate business; it’s not our mission,” Murphy said.