NUWAY Alliance Acquires Ramsey County Care Center to Relocate Cochran Recovery Services
NUWAY Alliance has acquired Ramsey County Care Center as the new location for Cochran Recovery Services (CRS). CRS is a part of NUWAY Alliance. According to data captured in the LevinPro HC database, this represents the 148th MOB transaction of 2023. This deal also marks NUWAY’s second transaction of the year. In August, the company acquired Arrigoni East and West, which provides housing for those going through substance abuse recovery programs. Located in Maplewood, Minnesota, Ramsey County Care Center operated as a nursing home for older adults from 1959 to 2022, when it closed. It features spacious bedrooms, several communal spaces, a full-service commercial kitchen and... Read More »
Montecito Medical Acquires Chapel Hill, NC MOB
Montecito Medical Real Estate announced on August 28 its acquisition of an 11,515-square-foot medical building in Chapel Hill, North Carolina for an undisclosed price. The two-story MOB is fully occupied and tenanted to the UNC Physicians Network, part of UNC Health, which uses the property as an internal medicine clinic. UNC Health is one of the nation’s leading academic healthcare systems, with more than 33,000 employees providing care to patients in all of North Carolina’s 100 counties through its 11 hospitals and hundreds of clinical practices. Montecito Medical specializes in healthcare-related real estate acquisitions and funding. Since 2006, it has completed transactions... Read More »
Shuman Development Group Acquires Reading, PA Medical Office Buildings
Shuman Development Group announced its acquisition of two medical office buildings (MOBs) Pennsylvania from Penn State Health. The Penn State Health St. Joseph downtown properties in Reading, Pennsylvania are located at 604 Walnut Street and 145 North 6th Street. Haven Behavioral Hospital of Eastern Pennsylvania, an acute care behavioral health hospital, is housed on the third floor of the North 6th Street property. Shuman Development Group is a Reading, Pennsylvania-based real estate developer. Following the sale, which is expected to close in October 2023, Penn State Health will become a tenant in the buildings. Terms were not disclosed. According to data captured... Read More »
Montecito Medical Acquires Two Las Vegas Medical Office Buildings
Montecito Medical Real Estate announced on August 22 its acquisition of two medical office buildings (MOBs) in Las Vegas. The properties, which total1 6,536 square feet, are fully occupied by Women’s Health Associates of Southern Nevada. One of the two properties serves as the group’s practice hub, and the other is adjacent to a 297-bed hospital, Valley Hospital Medical Center, in the heart of a medical corridor. Montecito Medical Real Estate specializes in healthcare-related real estate acquisitions and funding. Since 2006, it has completed transactions across the United States involving more than $5.1 billion in medical real estate. With the addition of these two... Read More »
Medical Properties Trust Cuts Dividend in Half to Bolster its Balance Sheet
After several large-scale divestments, one of the largest hospital landlords in the country is cutting its dividend to investors by nearly 50%. Medical Properties Trust, Inc. (NYSE: MPW) announced on Monday that “its Board of Directors has adopted an updated capital allocation strategy designed to significantly strengthen its balance sheet.” The dividend will be slashed from $0.29 per quarter to $0.15, which, according to the company, should help reduce leverage and improve long-term debt and equity capital costs. This change follows a number of divestments from MPW’s portfolio after the past 18 months that have resulted in lower adjusted funds from operations, including its... Read More »Schedule a demo
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