Boston-area Life Sciences Campus Acquired for Nearly $600 Million
In what has been reported by the Boston Business Journal as one of the largest commercial property transactions in the Boston area during the past year, CS Capital Management, Inc. has acquired a Waltham, Massachusetts-based life sciences campus for $578 million. The seller was TPG Real Estate’s Alloy life science platform. TPG bought the nearly 600,000-square-foot campus in 2020 for $340 million with a strategy of attracting more life science tenants through a lab conversion. CS Capital Management is a real estate investment management and advisory company with approximately $848 million of institutional assets under management. According to data captured in the LevinPro HC database, this... Read More »
Concentra Acquires Connecticut Occupational Health Locations
Concentra, Inc. announced on January 23 that it acquired PhysicianOne Urgent Care’s Connecticut occupational health business. PhysicianOne provides walk-in and virtual medical care for non-life-threatening illnesses and injuries around the clock. PhysicianOne’s 16 occupational health locations in Connecticut are being acquired. PhysicianOne still operates five Massachusetts and three New York locations. Concentra, a division of Select Medical, is a premier provider of occupational health services focused on improving the health of America’s workforce, one patient at a time. The company is headquartered in Addison, Texas and operates more than 540 urgent care centers in 44... Read More »
Will 2023 be the Year Medical Office Building M&A Activity Declines?
Did transaction activity peak in 2022 in the medical office building (MOB) market? While that question will officially be answered at the end of this year, it may already be time to start thinking about the possibility of a drop in MOB deal activity in 2023. According to data captured from the LevinPro HC database, there were 214 MOB deals in 2022 and 160 MOB transactions in 2021. Alan Pontius, senior vice president and national director of Marcus & Millichap’s office, industrial and healthcare divisions, discussed headwinds that look to shape the MOB market in 2023. “We’ll probably see a flattening, even a modest decrease, in overall activity,” Pontius said. “In the first quarter of... Read More »
Concentra Acquires Lehigh Valley Health Network’s Occupational Health Business in Bethlehem and Allentown, Pennsylvania
Concentra, Inc., a division of Select Medical, announced on January 23 the acquisition of the occupational health business of Lehigh Valley Health Network (LVHN) in Bethlehem and Allentown, Pennsylvania. This includes the former LVHN locations of HealthWorks–Allentown, HealthWorks–Trexlertown, HealthWorks–Bethlehem, Healthworks–Bethlehem Township and HealthWorks–Highland Avenue (previously Coordinated Health–Highland Avenue). All occupational health services previously provided at these locations are now provided by Concentra. Terms of the deal were not disclosed. Concentra’s Bethlehem and Allentown centers offer the full suite of occupational health services, including work injury care,... Read More »