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.

MIKE CONN Mike Conn has been integral in growing Meridian into one of the leading healthcare developers for creative ambulatory healthcare real estate solutions in California. At the firm, he focuses on developing much-needed outpatient clinics, redeveloping real estate assets into healthcare and fostering relationships with healthcare providers. Conn was recently promoted to EVP, allowing him to focus on areas outside of development. He is now responsible for all aspects of underwriting, capitalizing, closing, asset and property management and disposition. Due to his success in the industry, he has been recognized as a HREI Insights Awards winner from 2013 to 2018. He is also greatly involved in the company’s mentor program and encourages diversity within the firm, including an all-female management team.

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Erika Morphy



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