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Healthcare has become a major asset class for commercial real estate. Little wonder as spending in this sector, which totaled $3.5 trillion in 2018, is expected to grow more than 5% per year for the next decade. The people who navigate this asset class are a special breed, not only able to stay up to date on current real estate trends but also able to navigate the regulatory developments for healthcare and best practices for operators. You can meet the top players in this space, from individuals to teams to organizations, in the following pages.

JONATHAN BOYAJIAN As a principal at Echo Development Group, Jonathan Boyajian has been an innovator in the intersection of healthcare real estate and retail. He is a leader in the market, executing on value-add acquisitions, ground-up development deals and programmatic growth for urgent care, dental and behavioral health providers. In the last three years, Boyajian has acquired or developed $50 million in assets. His most recent projects include a medical office development in Colorado Springs, an office building redevelopment in Chicago and roll outs for smaller clinical providers. As a result, Echo Development’s portfolio has grown to $100 million in assets. He is an alumnus of Purdue University and the Charles H. Kellstadt Graduate School of Business at DePaul University, as well as an active member of the real estate alumni association.

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Erika Morphy

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