What You Missed in Medical Real Estate This Week
- Shane Lovelady
- Jul 12
- 2 min read
Markets don’t slow down just because it’s summer. Here’s your dose of what went down in medical CRE last week:
• North Carolina gets its first standalone children’s hospital
UNC and Duke are teaming up on a 500‑bed pediatric hospital in Apex, NC—with outpatient services, behavioral beds, and associated research space. The 230‑acre Veridea campus broke ground but won’t open until 2027. Expect 8,000 jobs and a $2‑3 billion development cost backed by $320 million in state funding .
• Office-to-clinic in Danbury, CT
A 50 percent vacant suburban office building will be converted to a physical therapy clinic. It’s the fourth such adaptive reuse in Danbury since 2013—showing how medical use is stepping in where offices failed .
• St. Louis behavioral health bet
Marcus & Millichap sold a 63K sq ft former nursing facility on Broadway for $6.3 million. The buyer plans to turn it into a behavioral health center—a push into specialty care off campus .
• Surgical hospital deal in Houston
IRA Capital picked up Houston Physicians’ Hospital and adjacent outpatient buildings (150K sq ft) fully leased to Memorial Hermann and USPI. It includes long-term strategic expansion rights .
• Pasadena SNF to mental health housing
A former nursing facility sold for $5.1 million and will be repurposed into temporary housing with behavioral health support services—transitioning licensed healthcare real estate into community health solutions .
Why it matters
These moves tell a clear story: ESG capability, specialty care both inpatient and outpatient, and office to med conversions are in full swing. Developers, lenders, and investors in medical CRE need to see this as more than piecemeal. It’s a sector-wide wave.
What you should be thinking about
Job-generating healthcare campuses like Apex—plan for long timelines but massive impact.
Office conversions continuing to fill the MOB and behavioral care gaps in suburban markets.
Purpose-built specialty facilities with strong operator alignment—surgical, psych, behavioral.
Closed facilities finding new life—smart repositioning for community health and housing.
📅 Want to talk through which sector is right for your strategy—hospital build, clinic conversion, specialty asset? Book a call:
📰 Prefer the intel served weekly without the fluff? Sign up here:
Comments