HEALTHCARE INFLUENCER: Avison Young
Avison Young’s healthcare capital markets group has grown into a significant presence in the national market over the past several years.
Avison Young’s National Healthcare Capital Markets Group
Avison Young’s national healthcare capital markets group is an influencer in the healthcare real estate community due to its extensive expertise working with large institutional investors, regional developers, hospital systems, and physician groups on significant investment transactions. The group is led by four principals, Jim Kornick and Chip Ryan, based in the Washington, DC office, and Mike Wilson and Erik Foster, based in the Chicago office.
This team has created a national platform over the past few years, expanding its client base significantly and securing assignments with such key healthcare firms as Grosvenor Americas Inc., Harrison Street, PGIM, Healthcare Realty Trust, MBRE, Physicians Realty Trust and others. The team advises developers on build-to-suits, presales of buildings under construction, joint venture opportunities and exit strategies. Among their development clients are Duke Realty Trust, Heitman, NexCore Group, and others. The team also works with many local physicians groups in different markets to assist them with critical decisions on selling real estate as part of a merger or other ownership changes.
Together the group has completed more than $1 billion worth of healthcare real estate investment sales over the past three years. The Avison Young professionals help healthcare clients achieve their business and operational goals by leveraging real estate, often through strategic dispositions. Among the group’s recent notable transactions is a 119,788-square-foot medical office building in Fairfax, VA being sold by Grosvenor Americas Inc. to Harrison Street Real Estate.
The group is unique in its focus on examining the overall business and operational needs of its clients as it relates to healthcare real estate and property investments. Its professionals work with investors in a variety of categories, from global institutions to regional development firms to localized physicians groups that are trying to monetize their real estate. Each type of client requires a different approach in analyzing the marketing and sales strategy needed to maximize investment returns.
The group has also been an integral part of advising clients on how to best manage their real estate holdings in the shifting healthcare landscape. In today’s community-based delivery system, assets that are aligned with health systems and strong physicians’ groups and located in growing population centers have become a popular choice for investors. The team understands the nuances of the current healthcare climate and uses this knowledge to position assets for optimum success.
The Avison Young approach is also unique because it is principal-led and has a strong focus on collaboration with other Avison Young brokers and outside consultants that can bring specialized services to the client. Each team member is a principal of the firm and, thus, has an ownership stake in the transaction. This provides clients with many advantages, including a focus on delivering long-term value that goes beyond the initial transaction. Also, each client transaction is managed by senior-level executives with extensive experience in that sector. This approach is advantageous in many situations, from the large institutional investor that is selling properties across multiple markets to the local physicians group that is trying to monetize its assets as part of a merger or ownership change.
The team takes a unique approach that includes significant involvement from the principals of the firm, who guide decision-making and are always available to advise the client on complex issues related to the disposition. This approach allows the team to leverage its expertise throughout the investment sales timeline, including marketing, sales and financial analysis of the assets.
Team members also support the Avison Young philosophy of giving back to the community through meaningful engagement with local, regional and national charitable organizations. They are involved in numerous activities that support business growth, community activities and charitable fundraising and awareness. Among the organizations the team is involved with are NAIOP (Northern Virginia, DC/Maryland and Chicago); Northern Virginia Democratic Business Council; Capital Area Food Bank; Carpenter’s Shelter and Alexandria Country Day School (Past Board Member), Greater Chicago Food Depository, Big Brothers and Big Sisters Foundation, and City of Hope.