UDLR Healthcare Buys Medical Office Building for $13.5 Million  

UDLR Healthcare Buys Medical Office Building for $13.5 Million  

JLL Capital Markets announced on January 17 that it arranged the $13.5 million sale and the $10.1 million acquisition financing for a medical office building (MOB) in Glendale, Arizona. The buyer was UDLR Healthcare, and the seller was Banner Health.   Thunderbird Medical Pavilion is a 92,811-square-foot MOB, whose tenants include imaging, cardiovascular surgery specialists, general surgery specialists, ear nose and throat physicians and obstetrics/gynecology providers. It is 50% leased with more than 7 years of remaining lease term.  Focused on investing in MOBs, UDLR Healthcare is a partnership between GI Partners and a team of former executives from Healthcare Trust of... Read More »
CD Health Infrastructure Partners Hits the Ground Running

CD Health Infrastructure Partners Hits the Ground Running

CD Health Infrastructure Partners is capitalizing on the aging population in Northern Phoenix. The vertically integrated real asset investment firm acquired one medical office building, primarily leased out to Banner Health, in Paradise Valley, Arizona. Banner currently has the largest healthcare system in Arizona with over 50,000 employees. The medical office building has approximately 13,800 square feet, but the price for the facility was not disclosed. The Northern Phoenix area benefits from high population density and rapidly growing aging demographics. In particular, the population of age 75 and older within a 15-minute drive time is expected to grow at 5.8% per year from 2020 to... Read More »
Banner Health Goes On an Acquisition Spree

Banner Health Goes On an Acquisition Spree

Banner Health, the Phoenix, Arizona-based not-for-profit health system, is bucking a trend. Thanks to the impact of the COVID-19 epidemic in the United States, some healthcare analysts expect 2020 will be a “throw-away year” for earnings and M&A activity. Not so for Banner Health, which owns and operates 28 acute-care hospitals in six states, as well as Banner Health Network, Banner University Medicine, academic and employed physician groups, long-term care centers, outpatient surgery centers and an array of other services. It reported revenue of $2.37 billion in the first quarter of 2020, up from $2.33 billion in the same period in 2019. In August 2019, the system acquired... Read More »
Banner Health Adds Two Physician Groups

Banner Health Adds Two Physician Groups

Arizona’s Banner Health continues to beef up its physician roster. In February, the not-for-profit health system added Desert Vascular Specialists and The Orthopedic Clinic Association (TOCA). Banner Health owns and operates 28 acute-care hospitals in six states, as well as the Banner Health Network, Banner University Medicine, academic and employed physician groups, long-term care centers, outpatient surgery centers and an array of other services. Desert Vascular Specialists provides diagnostic and personal treatment strategies for its patients using both traditional vascular surgical and lesser invasive endovascular interventions. Desert Vascular Specialists and its two surgeons... Read More »

Hospitals Are Buying in to Home Health

One anticipated trend that did not come to fruition in 2016 was hospitals entering the home health & hospice space. The advent of bundled payments placed tremendous emphasis on providers to control the patient engagement from start to finish, making it almost imperative for health systems to secure post-acute care providers in the home health and rehabilitation sectors. In 2012 and 2013 combined, there were only two deals involving a hospital purchasing a home health & hospice company. In 2014 and 2015, there were just two deals each year, and in 2016 we saw three. However, in the first month of 2017, three hospital groups have purchased home health & hospice companies.... Read More »