Occupancy Rates, Job Growth Provide Strength for Healthcare Real Estate
Steve Bolen provided encouraging news for attendees at the December 13 New York Healthcare Summit in New York City’s financial district. “For 2022, health care was among the top targeted sectors for expansion within virtually every one of our capital sources,” said Bolen, the U.S. head of healthcare real estate at LaSalle Investment Management. “For 2023, healthcare real estate is among the top targeted sectors for expansion for our clients.” Bolen’s confidence hasn’t been shaken by speculation that next year could bring an economic downturn for the United States. “There’s a growing chorus of economists suggesting that a recession could be a reality in 2023,” Bolen said. “That is a... Read More »
Our Lady of the Lake Regional Medical Center Sells Baton Rouge, Louisiana Surgery Center
Baton Rouge, Louisiana-based Our Lady of the Lake Regional Medical Center sold its ambulatory surgery center (ASC) in the same city for $8.95 million. The Lake Surgery Center was sold to Perkins Plaza Development, represented by orthopedic surgeon Larry “Chip” Bankston, MD. According to the LevinPro HC database, this marks the 27th ASC acquisition of 2022. Established in 2002, Lake Surgery Center is a 23,000-square-foot facility. The surgery center is co-owned by Our Lady of the Lake Regional Medical Center and Dr. Bankston’s practice, Baton Rouge Orthopaedic Clinic. In addition to Dr. Bankston, other officers for Perkins Plaza Development include Our Lady of the Lake... Read More »
Atlas Healthcare Partners & Banner Health Acquire 2 Arizona ASCs
Atlas Healthcare Partners, in partnership with Banner Health, one of the largest nonprofit health care systems in the country, announced the acquisition of two ambulatory surgery centers (ASCs) in Scottsdale and Tucson, Arizona. The two ASCs, Banner Surgery Center – Desert Vista and Banner Cardiovascular Center – Tanque Verde, grow Atlas Healthcare’s portfolio to 27 ASCs that it manages throughout the United States. Banner Surgery Center – Desert Vista, located in Scottsdale, Arizona, will feature two operating rooms. It will also provide pain management and spine services in partnership with two physician investors. Banner Cardiovascular Center – Tanque Verde was converted from an... Read More »
Orthopedic Care Partners Expands Presence in Missouri
On Aug. 29, Orthopedic Care Partners (OCP) announced it acquired an ambulatory surgery center (ASC) in Wentzville, Missouri for an undisclosed price, marking Orthopedic Care Partners’s second acquisition of 2022. The company previously acquired the practice of Dr. Luke Choi, an orthopedic practice in Jefferson City, Missouri. The facility, which opened in late 2021, includes clinic space, an imaging center and two operating rooms. OCP, a portfolio company of Varsity Healthcare Partners, is a strategic partner and support organization for top-performing orthopedic practices currently comprised of The Orthopaedic Institute (FL), The Steadman Clinic (CO), Motion Orthopaedics... Read More »
Ambulatory Surgery Center in Naperville, Illinois Sold for $15.2 Million
Physician Real Estate Capital Advisors, LLC (PRECAP) announced on August 15 that it advised a sale of an ambulatory surgery center (ASC) in Naperville, Illinois for $15.2 million. The building was sold by an undisclosed seller. The acquirer is also undisclosed, but it is a privately-held company that specializes in healthcare-related real estate acquisitions. The 19,000 square foot building was built in 2008 and is occupied by Suburban Gastroenterology, Ltd. and Midwest Endoscopy Center, LLC. SGI employs nine physicians with a tenth starting in 2023. The price is $763 per square foot. PRECAP provides sale-leaseback and investment sale healthcare real estate advisory services to... Read More »Schedule a demo
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