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Montecito Medical Acquires 4-Building Medical Office Property

Montecito Medical Acquires 4-Building Medical Office Property

by | Dec 15, 2022 11:59 am | Medical Office Buildings, Other Services

Montecito Medical, a leading acquirer of medical office properties nationwide, has completed the acquisition of a four-building portfolio in eastern Indiana and western Ohio. All four buildings, which total nearly 32,000 square feet, are tenanted by Whitewater Eye Centers. The properties include the group’s headquarters in Richmond, Indiana. The acquisition expands Montecito’s footprint in Indiana and Ohio. Terms of the deal were not disclosed. Montecito Medical Real Estate specializes in healthcare-related real estate acquisitions and funding. Since 2006, it has completed transactions across the U.S. involving more than $5 billion in medical real estate. According to the LevinPro HC... Read More »
Occupancy Rates, Job Growth Provide Strength for Healthcare Real Estate

Occupancy Rates, Job Growth Provide Strength for Healthcare Real Estate

by | Dec 14, 2022 2:54 pm | Ambulatory Surgery Centers, Medical Office Buildings, Other Services

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 »
Cross Country Healthcare Acquires Third Agency During 2022

Cross Country Healthcare Acquires Third Agency During 2022

by | Dec 14, 2022 12:55 pm | Healthcare Staffing, Other Services

Cross Country Healthcare, Inc. (NASDAQ: CCRN) announced on December 13 that it acquired Hireup Leadership Inc. This marks Cross Country Healthcare’s third transaction of 2022, where it previously acquired two healthcare staffing agencies. Cross Country Healthcare provides healthcare staffing and workforce solutions in the United States. In 2021, the company reported revenue of $1.67 billion. Hireup is an interim leadership firm based in Santa Barbara, California. Hireup partners with organizations, including hospitals, academic medical centers and clinics, to recruit healthcare leaders within nursing, allied, physician, human resources and finance. This acquisition strengthens Cross... Read More »
Irwin Naturals Acquires Florida Mind Health Center

Irwin Naturals Acquires Florida Mind Health Center

by | Dec 13, 2022 1:13 pm | Other Services

Irwin Naturals Inc. (CSE: IWIN) announced it acquired Florida Mind Health Center for an unspecified amount. Clare Clinic, Inc., which does business as Florida Mind Health Center, is a ketamine clinic that has locations in Gainesville, Tallahassee and Panama City, Florida. Founded in 1994, Irwin Naturals Inc. is a nutraceuticals (natural products and supplements) company with a portfolio of products available in more than 100,000 retail locations across North America. Its national chain of psychedelic mental health clinics is called Irwin Naturals Emergence. It generated more than $100 million in revenue in 2021. This transaction represents Irwin Naturals eighth acquisition in the year.... Read More »
Lincoln Advisors Acquires MOB in Atlanta’s Buckhead Neighborhood

Lincoln Advisors Acquires MOB in Atlanta’s Buckhead Neighborhood

by | Dec 12, 2022 3:08 pm | Medical Office Buildings, Other Services

Lincoln Advisors, an affiliate of international real estate firm Lincoln Property Company, has acquired the Northwest Medical Center, a four-story, 149,202-square-foot medical office building (MOB) in the Buckhead neighborhood of Atlanta. Lincoln Advisors paid $71.8 million for the Class A asset. The property is 81% leased to 25 tenants with a weighted average remaining lease term of approximately 9.4 years. The sale price is approximately $483 per square foot. A joint venture between Harrison Street and HealthAmerica Realty Group sold the property. CBRE Group, Inc. represented the sellers and procured the buyer. According to the LevinPro HC database this marks the 204th MOB acquisition of... Read More »
Hillhouse Acquires CRO George Clinical

Hillhouse Acquires CRO George Clinical

by | Dec 9, 2022 12:31 pm | CRO, Other Services, Private Equity

George Clinical announced on December 9 that it has entered into a sale agreement with Hillhouse, a Beijing-based global investment firm with deep experience in partnering with and supporting healthcare businesses. The George Institute will hold a minority stake in George Clinical following the acquisition and will maintain a collaboration in applicable scientific areas such as in the Global Kidney Patients Trials Network. BofA Securities acted as lead financial advisor on the transaction and Lazard Australia acted as co-advisor. Herbert Smith Freehills LLP acted as legal advisor on the transaction. Financial terms of the transaction were not disclosed. George Clinical is a global clinical... Read More »