Daily market intelligence on mortgages, equity raising, investment sales, and CMBS.

Tuesday, 12 September 2017

Physicians Realty Trust Adds 10 Medical Offices to Portfolio

Written by 
Rate this item
(0 votes)

Physicians Realty Trust has acquired eight medical-office buildings with a total of about 417,753 square feet for $129.7 million. The properties include:

- The 112,986-square-foot Clearview Cancer Institute in Huntsville, Ala., which the Milwaukee REIT bought from Anchor Health Properties for $53.3 million, or $472/sf. The property at 3601 CCI Drive Northwest is fully leased.

- The 102,977-sf Northside Cherokee/Towne Lake medical-office facility in Atlanta, which it bought for $38 million, or $369/sf. The building at 900 Towne Lake Parkway is fully leased to Northside Hospital through 2028.

- The 14,400-sf HonorHealth Mesa medical office in Mesa, Ariz., for which it paid $4.8 million, or $333/sf. The facility at 1124 East McKellips Road is fully leased.

- Five Catholic Health Initiative properties in four states with a total of 187,390 sf, which it bought for $33.7 million, or $180/sf. The properties are 97 percent leased.

Separately, the REIT had agreed to pay $156 million, or $430/sf, for the 363,174-sf Northside Center Pointe I & II medical-office property in Atlanta for $156 million, or $430/sf. The deal is expected to close before Sept. 15. And it's paying $10 million, or $372/sf, for the 26,859-sf Franklin ASC medical-office building in Franklin, Tenn.

Comments? E-mail Jen Loukedis or call her at (267) 247-0112, Ext. 212.



weekly-call-to-action

“The Weekly”

“The Weekly” is Commercial Real Estate Direct’s PDF newsletter, sent to subscribers every Friday morning. With over 100 news stories published on Commercial Real Estate Direct each week, “The Weekly” features the top stories in commercial real estate that industry participants need to know first. “The Weekly” also contains:

  • Breaking mortgage, CMBS, and REIT news

  • Quarterly league tables with rankings of B-piece buyers, book runners, and lenders

  • Industry moves and changes in “The Insider“

Additional Info

  • Syndicate to Realpoint: No
  • Sector: Office
  • Subject: Property Acquisitions (ACQ), REITS -general (REITS)
  • Valuation: Between $100 million and $150 million
  • Private: No
Read 549 times

Data Digest

 

CMBS DELINQUENCY VOLUME

dqdataFP1

 

CMBS SPECIAL SERVICING VOLUME

sschartfp

Top Bookrunners Domestic, Private-Label CMBS - 2016
Investment Bank #Deals Vol$mln MktShr%
JPMorgan Securities 14.94 10,350.16 15.14
Deutsche Bank 14.21 9,926.60 14.52
Wells Fargo Securities 13.36 9,513.96 13.92
Citigroup 10.87 8,061.79 11.80
Goldman Sachs 10.05 7,563.72 11.07

 

RCA CPPI

 

cppichart FP

 

 

CMBS 2.0 Spreads

AAAspreads

Top CMBS Loan Contributors - 2016
Lender #Loans Vol$mln MktShr%
JPMorgan Chase Bank 133.67 8,670.33 13.34
Goldman Sachs 156.20 7,418.37 11.41
Deutsche Bank 178.17 6,510.75 10.02
Citigroup 184.41 5,512.20 8.48
Morgan Stanley 113.18 4,130.53 6.35

 

 

 

REITCafe

  • Challenging Retail Environment Weights on REITs
    Mixed economic news is weighing on retail markets, pushing REIT performance down in 2015. This week, the National Retail Federation announced that back-to-school spending is expected to be down 9.3% in 2015. This news came on the heels of a report from the Commerce Department stating that retail sales declined 0.3%...
     
  • US REITs Feeling Effects from Turmoil in Greece and China
    International economic forces have taken center stage this week, affecting both US stock markets and REITs. The crash in the Chinese stock market and ongoing concerns about the future of Greece in the eurozone drove markets down during the first half of the week. REITs fared better than the overall market...

  • What Does Increased Construction Mean for Apartment REITs?
    REITs so far this year have raised $17.1 billion of capital through the sale of unsecured notes, bringing the total raised over the past two and a half years to just more than $75 billion. That’s more than they raised during the previous five years. The massive volume shouldn’t be a surprise as it comes while the yield from 10-year Treasury bonds, the benchmark...
shouldn’t be a surprise as it comes while the yield from 10-year Treasury bonds, the benchmark against which most REIT’s price their bonds
warehouse-backstage