Expert: When Physician Real Estate Owners Should Buy and Sell

Dallas-Fort Worth is a unique market for physician real estate owners. The city’s growing population affords the benefits of a primary market, allowing a practice to operate in a large medical office building in a densely populated area alongside a major freeway all while creating synergies with neighboring providers. However, given DFW is less dense than other major metropolitan areas like San Francisco, Los Angeles, and New York, providers here have a unique opportunity.  Physician groups can actually build their own facility at a reasonable price, allowing them to offer comprehensive services under one roof, providing a more convenient and… Full Story

Richardson Office Building Acquired by Methodist Health System

A real estate holding company owned by Methodist Health system has acquired a 120,000-square-foot medical office building in Richardson adjacent to the Methodist Richardson Medical Center. Holding company Pavilion Properties acquired the building from Pillar Commercial who just acquired the building in August of this year. Methodist Richardson Medical Center recently expanded by adding two floors and a parking garage to the existing medical center. Said Manny Ybarra, president of Pillar Commercial via release, “MRMC is a premier hospital system dedicated to the health of our community; and this acquisition allows them to extend their reach to residents in Richardson… Full Story

How CMS Rules May Impact Hospital Expansion

Last year, CMS announced that clinic visits would fall under its site neutral reimbursement model, meaning it would pay doctors the same amount for a doctor visit whether it takes place in a hospital outpatient facility or a regular office. This change means that “Healthcare systems whose real estate strategic plans included expansion of hospital outpatient departments and associated services likely will need to reassess their business cases for these sites to account for reduced reimbursements,” according to Cushman and Wakefield’s Vital Signs report detailing healthcare and medical office building real estate. CMS estimates it will save $800 million in 2020,… Full Story

Plano Medical Pavilion Purchased by Healthcare Realty Trust

Healthcare Realty Trust has purchased the Plano Medical Pavilion, a 48,192 square-foot  medical office building on the campus of the Baylor Scott & White Medical Center – Plano. The newly constructed building was sold by Heady Investments and Gulf Corporation, and the deal was brokered by JLL. Healthcare Realty is a Nashville-based publicly-traded Real Estate Investment Trust that owns, manages, acquires and develops medical real estate across the country. The office building will share the campus with Baylor Scott & White Heart Hospital Plano, Baylor Scoliosis Center and Baylor Scott & White Medical Center, which include 332 beds in total. “The… Full Story

100k-Square Foot Plano Healthcare Facility is on the Market

Last July, Dallas’ Cawley Partners bought the Parkside on Legacy healthcare building in Plano’s Legacy business park, and it has now hit the market again. The 101,608-square foot, three story Class-A healthcare facility should be receiving offers later this month. Completed in 2016 as a speculative project, in 2020 it will house Denver-based Eating Recovery Center, an eating disorder treatment facility with inpatient and outpatient services that has committed to an 18-year lease on the entire building. The property is undergoing more than $22 million in landlord and tenant improvements, allowing ERC to operate 72 inpatient beds. The organization is… Full Story

Meet the New Executive Vice President at New Era Partners

Michael W. Arvin will join New Era Partners as Executive Vice President of Strategy and Development, arriving with 30 years of experience in the healthcare real estate field. He will lead  strategic development and acquisition initiatives. Arvin led the local branch of healthcare real estate development and investment firm The Sanders Trust. He has experience with medical groups and both nonprofit and for-profit health systems such as Tenet Healthcare, HCA, US Oncology, and Methodist Health Systems, all based locally. “With Michael joining our executive leadership team New Era is well positioned to continue expanding our existing relationships and establishing new strategic… Full Story

Look: Medical City Heart and Spine Hospitals Now Open

Medical City Heart Hospital and Medical City Spine Hospital open for patients on October 8, offering specialized cardiovascular and spine care as departments of Medical City Dallas. The hospitals sit across Forest Lane from the main hospital and inhabit the location of now closed Forest Park Medical Center. The heart hospital will have 63 private patient rooms and cardiac services including complex vascular and heart surgery, advanced heart failure treatment, minimally invasive vascular surgery and other specialized heart care. Medical City Spine Hospital will have 24 beds of its own, and will treat both common and difficult to treat spinal conditions.… Full Story

Eosera Doubles Its Footprint in Fort Worth

Eosera, Inc., the biotech company that specializes in product ear-treatment will expand to a larger facility in Fort Worth by the end of this month. Eosera’s founder and CEO, Elyse Dickerson hopes the larger space will benefit the company’s increasing consumer demand for their ear-care products. The expansion doubles the size of the company’s warehouse and manufacturing space, where all manufacturing of Eosera’s products are done. The growth arrives with the addition of two new products. “The main driver is expansion of retail distribution and expansion of our product line. So because of both of those, we’ve had to increase our production of… Full Story

Healthcare Trust of America’s $55 Million Medical Office Building Expansion

Healthcare Trust of America has plans for a $55-$60 million office building on the campus that currently houses the Medical City Heart and Spine hospitals. Construction of the 107,000 square feet Class A medical office building will begin later this year. Called Pavilion III, it will include structured parking and will support the growing medical campus. Arizona-based HTA already owns two MOBs on the campus that are 90 percent leased as of June 30 and the new building will bring HTA’s total square footage to over 300,000 square feet on the campus. HTA has also purchased a 6-acre piece of land… Full Story

American Specialty Health Moves to AllianceTexas

AllianceTexas’ newest tenant is benefits management services company American Specialty Health. Hillwood’s 26,000 master planned community planned has leased 164,000 square feet of Class A office space from building owner Griffin Capital Essential Asset REIT. “We are pleased to welcome American Specialty Health to AllianceTexas’ ever-growing office community,” said Steve Aldrich, senior vice president of Hillwood via release. “Our region has an extensive and impressive list of top-tier health companies and with its cutting-edge healthcare services and new employment opportunities, ASH enhances that list in North Texas.” ASH gives guidance in musculoskeletal health solutions, fitness, exercise programs, and more to employer… Full Story