1. HCA plans to invest $4.6B this year in land and construction projects for new hospital and outpatient projects. HCA has purchased land in Austin, Las Vegas, Salt Lake City and in various Florida markets for new hospital projects. HCA has around 182 hospitals in the U.S. and U.K. and 2,500 outpatient clinics.
  2. California has created a $150M loan program for struggling hospitals. The program will provide zero interest loans to non-profit and public hospitals on the brink of closure or closing. One in five California hospitals are at risk of closure, according to one report.
  3. The Georgia debate over repealing the state’s certificate of need (“CON”) law continued as a Georgia advocacy group has launched a campaign in favor of repeal. The advocacy group claims that CON laws restrict access to health care and drive up costs. A Georgia legislative committee is currently reviewing the state’s CON law.
  4. Colorado’s Supreme Court recently held that certain CARES Act eviction requirements continue to apply to residential evictions. The Court found that the pandemic-era eviction rules didn’t include an expiration date. The CARES Act requires residential landlords to provide tenants with 30 days’ notice before an eviction.
  5. Hall Render is hosting a health care real estate conference in November for hospital and health system executives. For details, reach out to Andrew Dick or Joel Swider.
  6. Private real estate fundraising declined by 48% year-over-year according to new data published by Realfin. The banking crisis, inflation, monetary policy and the Russia-Ukraine conflict were cited as reasons for the slump in fundraising. Debt funds are actively seeking capital as a result of many bank lenders being on the sidelines.
  7. Virtua Health announced plans to sell its 110-acre “unicorn” site in South Jersey. The large site was initially purchased by Virtua for a $1B new hospital project. Plans changed when Virtua acquired Lourdes Health System.
  8. HCA released plans for its new Ashland, Virginia, hospital campus. The plans include a 60-bed hospital, an 80,000 sf medical office building and an outparcel for commercial or civic uses.
  9. Minto Communities announced impressive sales figures for its active adult segment called Latitude Margaritaville. In 2022, Minto sold 40 to 50 homes per month (600 sales per year) in its Jimmy Buffet-inspired retirement communities.
  10. UNC Health may establish a $5M affordable housing fund as a result of the growth of its Eastowne development. UNC’s Eastowne project is a large, mixed-use development in Chapel Hill, North Carolina. UNC plans to add 8 to 10 medical and life science buildings on or near the project over the next few years.