Jim Albertelli, Esq.

Friends – On behalf of Joel Swider and myself, below is our weekly hospital real estate briefing: 1. Revista published recent data indicating that, from 2017-2022, MOB portfolios consistently traded at a premium (reflected in lower average cap rates) as compared to single-asset MOBs. That trend reversed in late 2023 due to rising interest rates; however, since mid-2024, this so-called “portfolio premium” has returned.   2. Emory University (Atlanta, GA) plans to issue more than $1B in tax-exempt bonds to help fund the acquisition, construction and installation of health care and education projects.   3. UCSF Health plans to sell $575M in bonds to finance a 300K-sf cancer center, clinic and life science space. The building will be part of a 21-acre campus that will also include 2,600 housing units, 1.6M-sf of commercial space, a 250-room hotel and parks.   4. Hall Render Advisory Services recently published an Integration Playbook for health care M&A, which provides advice on pre- and post-closing integration strategies. Among the tips: (1) start with clear integration objectives before the deal closes; (2) execute a structured, phase-based integration; and (3) prioritize leadership, communication and patient care.   5. The new Roper St. Francis Hospital being constructed in North Charleston, SC, is expected to bring over 3,600 new jobs to the metro area. Construction is underway on a $1.2B hospital campus, slated to open in 2029 and spanning 27 acres.   6. UNC Health Pardee broke ground on a 39,000-sf adaptive reuse clinic project in downtown Brevard, NC. The $15M project will see an inline shopping center converted into a medical office building with 48 exam rooms, a retail pharmacy and a 300-person waiting room.   7. As part of a certificate of need process, the NC Health Department is scheduled to hold public hearings on competing applications by Cone Health and by a Novant-Duke Health partnership to build a new hospital in Mebane, NC. Each provider is prepared to spend over $225M on the new facility if selected.   8. The redevelopment group, which is converting the former Doctors Hospital in Milwaukee into senior apartments, recently received state and federal affordable housing tax credits. The former hospital includes a nine-story building and a five-story building and was built in 1928.   9. The American College of Emergency Physicians recently called “E.R. boarding” (the practice of keeping patients in the emergency department for extended periods) a national health crisis. A recent WSJ article highlighted the growing scarcity of unoccupied hospital beds, which tends to be worse in urban areas.   10. The American Medical Association voiced its support for federal legislation that would create exemptions to permit physician ownership of hospitals in high-need rural areas. The bill would allow physicians to own rural hospitals as long as the facility is more than a 35-mile drive from a main patient campus or a critical-access hospital.

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🔥 From hard hats to high finance Danny Flores went from building roads to closing $1B+ loans — and now he’s dominating the multifamily game. In this week's Crowdfunding Lawyers vodcast, he breaks down: ✅ The biggest underwriting mistakes ✅ What makes (and breaks) investor trust ✅ How to actually structure your deals the right way 🎙 AVAILABLE NOW via YouTube! 🔗 https://lnkd.in/evHvKQZs #MultifamilyInvesting #SyndicationStrategy #CapitalRaisingShow #DannyFlores

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One of the main reasons for license transfer delays is failing to vet the buyer properly. Inquire about their criminal background, source of funds, and whether they have a lease or a letter of intent(site control) You’ll find that some buyers, whether they know it or not, are wasting your time (and theirs). You don’t want to jump into a transaction that’ll inevitably be a dead end. Due diligence is king when it comes to buyers. Be careful.

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Large deals bolstered #commercial #sales volume in the counties of #MiamiDade, #Broward, and #PalmBeach in the first half of 2025,according to #MIAMIRealtors® analysis of county records. In the first half of 2025, $5.6 billion of #multifamily, #office, #industrial, and #retail #commercial real estate traded hands, a 10% increase from the same period last year. #Broward outperformed, with a 47% increase, with sales rising to $2.3 billion in sales due to two large office transactions in the financial center of #LasOlas-- the Bank of America Center and the Las Olas Center. In #MiamiDade, sales rose to $2.7 billion, up 13% from the prior year. The largest deal was the purchase of a luxury apartment complex by investment giant Blackstone from Greystar in April 2025. Blackstone’s acquisition reflects the strong confidence of institutional #investors in Miami-Dade’s luxury multifamily market. In #PalmBeach County, sales fell 45% to $660 million, but #retail was a bright spot. The acquisition of Marketplace at the Outlets in West Palm Beach in May 2025 was the largest deal in Palm Beach and in the Tri-County area. The power center development is anchored by Whole Foods Market and about 20 national brands. Retail outlook is strong in Palm Beach, which is the center for wealth migration in Florida and the nation, with $5 billion in net household income from migration in 2022. Scroll below or download the 2025 Q2 Southeast Florida Commercial Report at Miami Association of Realtors BROWARD-MIAMI, a Division of MIAMI REALTORS® JTHS-MIAMI, a Division of MIAMI REALTORS® MIAMI Commercial

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Opportunity knocks, people! "Smaller #commercialrealestate transactions are showing signs of renewed strength, even as overall activity remained below the market’s peak three years ago. According to data from Green Street, sales of #properties priced between $5 million and $25 million totaled $45.24 billion in the first half, a 3.5% increase from $43.7 billion during the same period in 2024. While #dealvolume is still down about 27% from the 2022 high of $62.26 billion, industry analysts say momentum is returning. Growth has been driven largely by #multifamily, #industrial and #retail assets, with select #office properties reentering the mix. Smaller #dealmaking represents an important share of the overall market, even though larger transactions continue to account for most of the sector’s dollar volume." #larrythetitlelawyer

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Texas made housing affordable by putting real dollars behind it. That’s why companies moved and other states are taking notes. Sharon Wilson Geno, President of National Multifamily Housing Council, breaks it down with Jack Stone and Alexander B. Gornik. Full episode in the comments below 🎧 #NoCapPodcast #commercialrealestate #realestatenews #multifamily

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The latest issue of Texas Apartments magazine is here! From legal updates to expert tips, trends, and tools to help your business thrive (it's a must-read for anyone in the rental housing industry). 💼📈📖 Read it now: https://lnkd.in/d2RKmi7k

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🏦 Mortgage Subservicing's Makeover Moment: Industry Giants Reshape the Landscape 🔄 According to a recent HousingWire article, the mortgage subservicing sector is undergoing significant transformation. Notably, Rocket Companies announced a $9.4 billion offer to acquire Mr. Cooper Group, the largest subservicer in the U.S. This move underscores a trend where major players like Onity and Cenlar are re-evaluating their strategies to enhance efficiency and customer experience. As the industry evolves, these shifts could redefine how mortgage servicing operates, emphasizing technology integration and streamlined processes. #MortgageServicing #Subservicing #HousingMarket #RocketCompanies #MrCooper #Onity #Cenlar #HousingWireInsights https://lnkd.in/en8f36je

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Inventory Hive will run through the upcoming regulatory changes, including the Renters' Rights Act, and the new emphasis on the importance of robust inventory and inspection reports. 📋 Topics: ⏺️ What the end of Section 21 means for landlords, letting agents, and tenants ⏺️ How Section 8 possession claims will work and why strong evidence is essential ⏺️ The risks of inadequate documentation ⏺️ How to create time-stamped, photographic reports that protect you and your landlords. Webinar sign up 👉 https://ow.ly/zC6x50Yf8M8

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Miami’s residential market is shifting. Inventory is still below long-term averages, which has kept prices resilient even as rates remain elevated. But signs of balance are emerging. For buyers, this may be the best window in years. For sellers, realistic pricing is key. Are you seeing more opportunity or caution in today’s market? #MiamiRealEstate #HousingMarket #RealEstateTrends #InvestmentStrategy

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Is Google about to replace Zillow?!? This move by Google could signal the end of traditional real estate websites. Is this good for real estate? Is this good for realtors and consumers? Let me know in the comments BELOW!! #realestatenews #realestatelawyer #floridalawyer #realtornews

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💼 Northmarq’s Phoenix and Las Vegas Debt + Equity teams, led by Michael W. and Tyler Woodard, arranged refinancing for Istana at Wurzbach — a newly built 324-unit multifamily community in San Antonio, Texas. 🤝 “It was a challenging deal to place, but through Northmarq’s broad capital markets network and correspondent relationships we were positioned to meet our client’s capital needs successfully,” said Michael. #Northmarq #CRE #Multifamily 📰 Read more: https://ow.ly/5R0B50Xtz0W

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