Healthcare Influencers

The last twelve months have proven to be a roller coaster ride for the healthcare real estate industry sector. Like office, medical office buildings lost tenants as physicians closed operations and reduced their space. Unlike office, this niche then rebounded admirably not long after the pandemic began. It quickly became clear that medical office buildings were a solid investment that would withstand the vagrancies of the pandemic. Kudos must go to the men and women who navigated this minefield. On the following pages you will read about these experts we have selected based on a range of criteria, most fundamentally the impact they have made in their industry in the last twelve months.

INDIVIDUALS

BEN APPEL Throughout his 12-year career, Ben Appel has advised on medical office and healthcare real estate transactions in excess of $2 billion annually, including some of the nation’s most notable, recent medical office transactions. As an executive managing director of Newmark’s healthcare real estate capital markets team, Appel specializes in medical office building sales, equity placement and financings. His experience includes medical office sales, recapitalizations, joint-venture equity, physician and hospital monetizations and facilitating developer selection processes. During his career, Appel has represented core funds, public and private REITs, pension funds and advisors, developers, family offices, private equity firms and healthcare providers. Appel and his team pride themselves on fostering deep personal and professional relationships with public and private companies and healthcare providers, which allows the team to execute unique and customized solutions to meet client objectives. Appel has been involved in some of the most notable healthcare real estate transactions around the country throughout the past three years, including the largest single-asset medical office sale in the U.S. and the second-largest medical office portfolio sale in the U.S., both in terms of sale price. Appel is highly involved in his community by participating with organizations, such as Habitat for Humanity to help restore, improve and build homes in his local community. In addition, Appel previously served on the board of the Philadelphia Holocaust Remembrance Foundation, which revitalized, reimagined and renovated the oldest Holocaust memorial in the country, prominently located just a few blocks from Philadelphia’s City Hall.

DANN BURKE With 19 years of healthcare-specific real estate experience and a commitment to building long-term relationships, Dann Burke has positioned himself and his team at CBRE as a dominant brokerage in the Denver market. Burke, a first VP at CBRE, has nearly three decades of experience in brokerage, development and construction, which makes him uniquely capable of handling complex issues with land development and specialty centers, such as cancer, imaging and surgery. Burke works on every aspect of healthcare real estate, including leasing, development, asset management, landlord/agency representation, tenant/practice representation, buyer and seller representation, and design-build construction. Burke is highly regarded by clients. He and his team were recognized with the Most Valuable Brokers award by Health Peak Properties from 2016 to 2018. Burke was extensively involved in bringing much-needed healthcare space to the Cherry Creek area after it underwent a redevelopment and renaissance that displaced medical practices with retail and class A office buildings. With a need for orthopedics, imaging, oncology, cardiology, plastic surgery and primary care spaces, Brookhaven Capital Partners selected Burke and his team to represent it in devising and executing a strategy for UCHealth to lease a 100,000-square-foot medical office building. The transaction was the largest of Burke’s career. Despite pandemic disruptions in 2020, Burke experienced his best year-to-date in both revenue and transaction volume. His team worked with clients to modify existing leases, work through financial hardships and bridge the gap between tenants and landlords to find mutually agreeable outcomes for both parties. Burke is a regular panel member and moderator at conferences and devotes time to mentoring junior brokers.

SALVATORE F. CANNIZZARO At the height of the COVID-19 pandemic, Salvatore Cannizzaro saw an opportunity to turn empty shipping containers, sitting unused at a New Jersey port, into mobile testing sites. Each unit had multiple test rooms that were fully sanitized between visits and included a sink, negative airflow system, heating and air conditioning, and separate doors to the parking lot. The mobile testing containers were delivered by flatbed trucks and were powered by generators. Cannizzaro, a lifelong entrepreneur, is CEO of Immediate Care, SFC Enterprises Inc. and Mobile Health Solutions, the company he founded to bring safe mobile testing solutions to the public during the pandemic. He founded SFC Enterprises in 1998 as a property development and commercial real estate company specializing in medical development. The firm has made investments in properties in New York and New Jersey. In 2012, he ventured into the field of healthcare management and opened the first Immediate Care medical walk-in center, and he now owns and operates seven centers across New Jersey. Cannizzaro owns and operates all three companies and works closely with his teams to oversee and manage their daily operations. Cannizzaro believes in giving back to his community. In addition to jumping into action to address local pandemic needs, he also hosts an annual fishing trip for underprivileged children sponsored by Immediate Care and he supports numerous organizations including the Visiting Nurse Association and CentraState Health Care Foundation. Cannizzaro’s knack for finding solutions for unmet needs started at age 24 when he opened a print shop and realized that generic drug makers needed someone to print their packaging. His company, Innovative Folding Carton Co., is still operating today as Multi Packaging Solutions.

DAVE CASIMIRO Dave Casimiro’s vision for what a medical office building can be includes a healthcare ecosystem, a wellness hub and a conduit for the delivery of holistic healthcare. From design elements that draw inspiration from nature and the incorporation of artwork in common spaces to prioritizing connectivity of medical office buildings, Casimiro looks for every opportunity to change how we perceive healthcare real estate. As NorthWest Healthcare Properties’ managing director for Canada, Casimiro is responsible for the leadership of all Canadian regional teams, as well as contributing to the strategic direction and growth development planning for the Canadian portfolio. He has established relationships with government and institutional healthcare providers to support a development strategy to build new healthcare facilities, including ambulatory care and ambulatory surgical centers. Among his greatest accomplishments was proactively obtaining WiredScore certification of the entire NWH Canadian portfolio, spanning 58 properties encompassing 3.4 million square feet, which allows NWH’s assets to provide the highest possible standard of connectivity for users, equipment and associated services. During the pandemic, excellent connectivity was critical for NWH’s tenants as remote work and telemedicine took hold, and it will continue to be crucial in the future. Casimiro has dedicated resources to improve connectivity and digital infrastructure to ensure NWH can deliver a safe, productive and enjoyable experience in its buildings. Casimiro is a long-standing member of several real estate associations including BOMA, NAOIP and ULI, for which he regularly participates in seminars, conferences and panel discussions. In addition, he volunteers as a director on the Michael Garron Hospital Foundation board.

BILL COLGAN Throughout his more than 25-year career, Bill Colgan has emphasized the importance of preserving and developing community-based healthcare facilities as a means to improve access and quality of patient care as well as create jobs and tax ratables. Colgan is a founding member and managing partner of CHA Partners, where he directs all business development, strategic planning and financial operations. He has grown the firm’s portfolio, which currently includes more than three million square feet of owned and under development properties, the majority of which are healthcare-focused. In recent years, Colgan has spearheaded the acquisition and repurposing of four former acute care hospitals in New Jersey, including the former Barnert Hospital, the former Greenville Hospital, the former William B. Kessler Memorial Hospital and the former Muhlenberg Hospital. In each case, CHA Partners transformed vacant, abandoned structures into vibrant providers of local, regional and national healthcare services in the areas of women’s health, urgent care, subacute, behavioral health, adult medical daycare, ophthalmology, dialysis and more. In addition, Colgan has developed several ambulatory surgical centers in each of these facilities, navigating the areas of group formation, licensure and construction. Among his achievements are the acquisition and repurposing of numerous closed or bankrupt acute care hospitals, the development of new medical programs through physician recruitment and regulatory approvals, and the management of numerous ground-up development projects, such as the under-construction 140,000-square-foot ambulatory care center in Totowa, NJ and the recently completed Rockaway Beach Medical Arts Complex. Most recently, Colgan spearheaded the launch of LIVIA, an upscale wellness-focused senior living community that will offer assisted living, memory care, post-acute care, long-term care, rehabilitation and skilled nursing care.

MATT COURSEN Matt Coursen impacts the healthcare field by bringing data analytics to hospitals and national healthcare delivery networks, including Children’s National Hospital, LifeBridge Health, Carbon Health and Cano Health. With 16 years of industry experience, Coursen serves as the executive managing director and the Mid-Atlantic healthcare lead at JLL. Big data is a major differentiator in the formulation of sophisticated real estate strategies that ultimately impact the delivery of care at the patient level, and Coursen’s expertise in this field has garnered recognition locally and nationally across the JLL organization, as well as more broadly at industry events and in publications. His work seeks to use big data to link social determinants of health to strategic location decisions for healthcare providers. Coursen currently represents healthcare clients across 20 states, and he has advised his clients on more than 1,000 real estate transactions valued in excess of $2 billion since 2005. Year to date, Coursen has completed more than 90 real estate transactions on behalf of 15 healthcare clients, totaling more than 500,000 square feet of space. The uncertainty of the pandemic’s long-term impact has reinforced Coursen’s confidence that a data-driven approach to establishing medical facilities, trust in the science behind effective therapies and the desire to help his community are the backbone of the personal and professional legacy he strives to create. Coursen is active in his community as a third-generation Washingtonian. He is currently a member of the Children’s National Hospital Foundation Advisory Board, where he raises money to improve care, develop new therapies and find cures for childhood diseases.

ALLISON NELSON Allison Nelson, co-deputy chair of the real estate practice group at Akerman LLP, represents national, publicly-traded healthcare systems and oversees a team of attorneys that negotiate more than 400 lease arrangements annually. With 22 years of industry experience, Nelson has become a thought leader in healthcare real estate, especially during the pandemic. She incorporated advice provided by Akerman’s COVID-19 task force into her everyday lease negotiations and has worked closely with clients to plan for COVID-19 contingencies, including working on long-term planning for new developments. She also has cultivated and prepared a team to respond quickly in the event demands are placed on her client’s facilities due to COVID-19 surges. For instance, it is common for her and her team to negotiate a pop-up tent license agreement for a parking lot or the leasing of additional space for COVID-19 testing centers or vaccine distribution locations within 24 hours to accommodate surges in demand for space. Nelson has also advised healthcare practitioners on their rights to request rent abatement and COVID-19 waivers available under federal healthcare regulatory laws. Among Nelson’s accomplishments, she represented a university system in a joint-venture development of a $500 million rehab hospital; represented a national nonprofit healthcare system in a $1.2 billion acquisition of a hospital system that included five campuses and various off-campus properties; and represented a hospital repositioning a 100,000-square-foot medical office building by renegotiating leases with more than 70 physician and physician group tenants, restructuring financing and implementing new accounting and compliance protocols. Nelson also specializes in assisting clients with navigating Stark and anti-kickback compliance issues, creating compliance programs for real estate departments of healthcare systems, and navigating OIG investigations related to real estate transactions.

SCOTT NIEDERGANG Scott Niedergang started his career in healthcare real estate brokerage just as the global financial crisis was about to take hold in 2008. After identifying significant capital flows to the single-tenant net-lease sector, Niedergang developed relationships with a national network of investors and developers that owned dialysis clinics, and he went on to build a business solely focused on this asset class. During the next three years, he sold more than 50 dialysis clinic assets throughout the country. He later expanded his focus to multi-tenant medical office buildings, ambulatory surgery centers and outpatient facilities while working for Marcus & Millichap and grew the firm’s Institutional Property Advisors division into an active capital markets advisor within the healthcare real estate field. In 2018, Niedergang moved to Cushman & Wakefield to lead its national healthcare capital markets platform, where he advised on more than $300 million of capital market transactions over three years. Today, Niedergang works as managing principal of Physician Real Estate Capital Advisors, a company he founded in August 2021. The firm works solely with mid-market owners of healthcare real estate while focusing on physician groups and healthcare providers seeking to pursue sale-leaseback transactions. Niedergang acts in a client-facing capacity by working with a national network of healthcare real estate owners on the valuation and disposition of assets. One of his most interesting transactions was the sale of a multi-tenant medical office building owned by seven physician groups and a healthcare system. Niedergang met and consulted with each owner on eight separate sale-leaseback transactions. By pursuing a portfolio sale of all the condo units at once, all the physicians realized a price premium due to the larger pool of buyers for the entire asset versus individual condo units.

MIKE NORRIS HealthyTenant focuses on reducing facility costs and liabilities for practices from the evaluation stage through project completion and, on an ongoing basis, handling facility management issues, operating expenses and certification compliance. At the helm of HealthyTenant, the only tenant representation firm in the Washington D.C., area, is Mike Norris. As president, Norris is responsible for the business operations of the company and maintains a hands-on role in all projects for the practices that HealthyTenant supports. He guides the firm’s strategy of evaluating non-medical spaces and buildings for conversion to medical space in an effort to achieve a practice’s specialized facility needs for less. In addition, Norris has assisted practices with facility certification compliance, grant applications and Stark Law compliance, and he uses payor mix data to enable practices to make informed decisions. In the past three years, he has completed more than 100 projects totaling more than 500,000 square feet for practices and health centers. However, he points to achievements during the pandemic as his best accomplishments. Norris worked with federally-qualified health centers to set up COVID-19 testing sites in building parking lots and negotiated fair rent deferments and assisted with grant and PPP applications for private practices to weather shutdown and reopening struggles. Norris and HealthyTenant regularly support CCI Health & Wellness, a federally-qualified health center whose work in testing, vaccinations and a wide array of other medical services is indispensable for the community.

ADAM SCHINDLER The son of a physician, Adam Schindler grew up with close ties to the healthcare industry and had firsthand knowledge of the lingo and challenges of the medical community. Though he did not go directly into the family business, after early exposure to professional opportunities in the commercial real estate field, Schindler was drawn to working with similar faces and surroundings that he saw in his childhood. Schindler is now an EVP at Colliers, where he leverages the platform of technology and analytics tools that Colliers healthcare services offer to support his clients through comprehensive real estate decision-making processes based on his understanding of trends impacting the highly competitive and regulated healthcare industry. Schindler specializes in full-service advisory and portfolio management for a wide array of roll-up and private equity-backed physician practice groups in the Washington D.C. metropolitan area. During the past three years, Schindler has completed more than 105 transactions and 1.25 million square feet; nearly half of which were in the healthcare field. A complex, multifaceted joint-venture acquisition in which Schindler advised Capital Digestive Care for a 100,000-square-foot campus in Rockville, MD is among his notable transactions, as is a 70,000-square-foot restructure for George Washington Medical Faculty Associates that took place in May 2020; a 20,000-square-foot deal for American Orthopedic Partners in June 2021; and a 21,000-square-foot pathology laboratory for Capital Digestive Care in July 2021. Schindler has won numerous performance awards as a top broker. Schindler is also well-connected in the real estate and business community, participating in the Commercial Real Estate Brokerage Association of Washington D.C., the Young Consultants of the District of Columbia and DCA Live.

TOBY SCRIVNER Toby Scrivner remains on the cutting-edge of the industry by pioneering many product types within healthcare real estate thanks to his ability to understand where demand is leading. Scrivner, senior director at Stan Johnson Co., has worked with clients to structure deals in the in-patient rehab facility space on the front-end and he educates buyers on why these assets are a great opportunity. Scrivner has 20 years of industry experience and is one of Stan Johnson Co.’s leaders in the healthcare real estate space. He decided to focus on healthcare within net lease in 2007, at a time when there were fewer players. Faced with the market crash in 2008, Scrivner persevered and learned to find motivation and opportunity despite negative markets and events. His experience during that Black Swan event helped him to navigate the uncertainties of COVID-19, during which he reached out to clients with real-time advice on the market, transactions, rent payment concerns and financing. Scrivner leads a team of seven commercial real estate professionals that are focused on the sale of healthcare investment properties. He continuously monitors the trends and changes within this unique niche of the net lease market. Scrivner has proven himself as a knowledgeable resource to owners and buyers of healthcare properties. In the past three years, he has been involved in 96 closed investment property transactions totaling more than $400 million in transaction volume. He is passionate about mentoring the next generation of healthcare real estate professionals on structuring deals, working with clients and maintaining a client pipeline.

BRANDY BELLOW SPINKS Brandy Bellow Spinks is known at CBRE and throughout the Houston, TX community as an expert in the healthcare sector. Spinks has built trust and personal relationships with local healthcare institutions, large practices, investors and developers who look to her for guidance in the market. As SVP at CBRE, Spinks oversees a two million-square-foot portfolio of medical office space. Alongside her two partners, Spinks leads the firm’s healthcare services group for the Houston office in providing a complete spectrum of commercial real estate transaction management services, including landlord representation, tenant representation and investment sales services. In 2020, Spinks completed 71 transactions totaling more than $42 million in volume, and in the first half of 2021, she completed 78 transactions totaling more than $222 million in volume. Throughout the past three years, Spinks has completed 401 transactions totaling $890 million in volume. She has completed numerous large transactions on the landlord and/or tenant side with institutions including Houston Methodist, Memorial Hermann Health System, Hospital Corporation of America, CHI St. Luke’s Health, Texas Children’s Hospital, MD Anderson and UTMB. During the height of the pandemic, Spinks completed the sale of an 80,000-square-foot building in the Texas Medical Center to HCA and worked with Dr. Mike Mann of the Mann Eye Institute to get his legacy project, a new class AA medical office building, off the ground. Spinks prioritizes mentoring her team members by introducing them to industry leaders and allowing them to shadow her in order to learn how she conducts business. She frequently speaks on commercial real estate panels; providing her industry insight and knowledge to the community.

JOHN WADSWORTH John Wadsworth has shaped Colliers’ healthcare services group since 2004 when he founded the healthcare services group for the firm’s Southern California region. In 2005, he was a founding member of Colliers’ national healthcare services platform, and he served as the national director of Colliers healthcare services from 2005 to 2015. Today, Wadsworth works as SVP of healthcare properties at Colliers, for which he draws upon 28 years of industry experience to promote innovation, excellence and enhancements to the company’s service delivery model. The healthcare services group is a highly-specialized service line at Colliers with a 100% focus on healthcare and medical office-related real estate. Wadsworth advises hospitals, health systems, physicians, healthcare real estate developers and investors to identify market opportunities, improve real estate efficiency and control costs. His business services include focuses on landlord agency, tenant representation, investment sales, new lease and renewal negotiations, market and new site evaluation, development advisory, lease audit and lease administration services. Throughout his career, Wadsworth has closed more than $1 billion in healthcare transactions, and his current leasing and marketing assignments encompass more than two million square feet. Wadsworth is responsible for completing the largest hospital lease in Southern California, totaling more than $80 million for the transaction.

ANGIE WEBER With more than 30 years of commercial real estate experience, Angie Weber is a well-respected expert in the healthcare space and is recognized as one of the most active and knowledgeable brokers in the greater Los Angeles area. Weber is a relationship-oriented broker rather than a transaction-focused broker, and she often functions as a connector in the industry by bringing together health systems, owners, developers, brokers and others. As first VP at CBRE, Weber is focused entirely on medical real estate and represents many of the industry’s biggest players, including healthcare REITs, institutional owners and healthcare systems. Among her recent accomplishments was working with an owner to fill a hospital-adjacent building. Weber and her team partnered with Meridian to advise on an extensive capital improvement strategy and complete 51,000 square feet of transactions, including more than 28,000 square feet in net absorption within 24 months. Separately, Weber worked with a value-add investor to lease-up a property with 51,454 square feet of vacant space. Leveraging her deep relationships with key market players, Weber brokered a 48,000-square-foot lease to AltaMed and a lease renewal with Providence and UCLA to increase occupancy to nearly 91% within 24 months, which resulted in the building selling at a record price. Weber also successfully led a campaign with the Los Angeles American Heart Association to raise funds to provide CPR training and raise awareness of heart disease. She also serves as a foundation member for Glendale Memorial Hospital and past foundation board member for Verity Hospital Foundation and Valley Presbyterian Hospital Foundation.

KENNETH A. WESTON In the late 1970s, Kenneth Weston realized that the unique space requirements of healthcare providers could best be served by ownership rather than leasing. In search of an insider’s perspective, Weston spent six months in a self-imposed internship at a local hospital discussing the specific spatial needs of different medical specialties. At the same time, he began building a network of professionals, including physician groups, hospital administrators, healthcare providers and investors, of which he constantly monitors the changing South Florida healthcare real estate market. He was involved in the development of one of the first medical office condos on the Eastern seaboard and he has since participated in the development and marketing of more than 15 million square feet of medical office properties. Weston founded Kenneth Weston Healthcare Real Estate, which he leads as chairman and CEO. He specializes in acquiring off-market, underperforming and distressed medical properties that typically surface through his network. Through his access to the latest buzz, Weston identifies potential medical properties that will be available for acquisition before they come to market – a rare opportunity that helps to ensure the creation of value for joint-venture partners. In addition to the completion of certain under-development projects, Weston is currently concentrating on observing the direction that successful healthcare facilities will take in a post-pandemic world. Features such as COVID-proof waiting areas, touch-free elevators and doors, automatic faucets and soap dispensers, and required emergency generators have long been required in Weston’s properties. He is a member of the American College of Healthcare Executives, South Florida Hospital & Healthcare Association and the Building Owners & Managers Association.

PHILIP WURTH As EVP at Colliers Arizona, Philip Wurth has a broad understanding of the comprehensive needs of the greater Phoenix market, a rapidly growing healthcare tourism destination due to world-renowned providers such as Mayo Clinic, M.D. Anderson and Cancer Centers of America. Serving as a landlord representative for the most proposed medical office developments of any broker in the metropolitan area, Wurth deals in a wide variety of healthcare property categories and works alongside economic development organizations, municipal governments, developers and users. He has advised hospitals, developers and users regarding advantageous growth opportunities, and the results of his counsel include successful medical office condos, a hospital campus expansion and biotech industry properties. He has been involved in the leasing and/or sale of in-patient hospital properties, behavioral health centers, medical office condominiums, surgical centers, medical practices, skilled nursing facilities and senior housing. He additionally provides clients with market and financial analysis, trend forecasts and targeted marketing designed to identify and attract buyers and tenants. Recently, Wurth, alongside his partner, completed the planning, development and full sell-out of the 55,000-square-foot medical condominium project, Auviana, in Surprise, AZ; a project that spanned more than three years. Wurth also recently handled the $10.5 million sale of Gilbert Emergency Hospital, which was purchased by Nutex. Outside of his professional responsibilities, Wurth has dedicated his time to the Tanzania Project for more than ten years, which sponsors and nurtures refugee children.

TEAMS

AVISON YOUNG U.S. HEALTHCARE CAPITAL MARKETS Founded last year, the Avison Young U.S. healthcare capital markets team is co-led by Jim Kornick and Michael Wilson, who hold a combined 40 years of experience in selling healthcare real estate assets. Kornick embodies an enthusiasm for healthcare transactions driven by a desire to deliver better health outcomes for patients, and Wilson is known as a resource for developers, investors and capital partners and as an advisor to physician groups and health systems as they navigate monetizations, long-term real estate partnerships with landlords and more. Together, Kornick and Wilson coordinate on Avison Young’s multiple healthcare and non-healthcare specialties, including occupier services, agency leasing, healthcare property management and investor services for portfolio optimizations and sales, joint-venture equity partnerships and sale-leasebacks. The two professionals have led their team to complete more than $1 billion in transactions during the past 3 years, including multiple more than $100 million transactions. Serving as top brokers at Avison Young, Kornick and Wilson successfully closed several transactions at the peak of the pandemic by working with buyers, sellers and tenants to build confidence in order to move forward. The team continually views the sector with the long-term lens; recognizing market swings while maintaining a strong belief in the inherent strength of the healthcare real estate market. Recent clients for the team include Harrison St, Hammes Co., Grosvenor, HSA Primecare, Remedy, Calpers, Healthcare Realty, IRA Capital, Seavest and more.

CBRE HEALTHCARE & LIFE SCIENCES CAPITAL MARKETS CBRE was one of the first brokerage firms nationally to form a specialty practice focused on the healthcare and life science investment sector. The team was formed in 2007 and is led by vice chairmen and co-leaders Chris Bodnar and Lee Asher. In 2020, the group was responsible for the disposition of more than 3.8 million square feet of healthcare real estate across 85 properties, and its sales and financings totaled more than $1.6 billion last year. A recent notable transaction for the team was a 419,000-square-foot portfolio, which comprised seven medical office buildings and four inpatient rehabilitation facilities across eight states. The transaction represented one of the first mixed healthcare asset class portfolios in the market and the team was able to provide a favorable outcome for the client during the height of the pandemic. CBRE’s healthcare and life sciences capital markets team continues to utilize thought-leadership as a cornerstone to building trust with clients. For 11 years, the team has published CBRE’s Healthcare Real Estate Investor & Developer Survey, an annual report that helps identify key patterns that influence the healthcare real estate sector and helps clients understand the state of the market and projected trends. The report is used by a large percentage of appraisal groups when evaluating the sector. Aside from their professional responsibilities, Bodnar and Asher serve as frequent speakers and panelists within the industry and they each support a variety of community organizations.

COX, CASTLE & NICHOLSON HEALTHCARE REAL ESTATE GROUP Thanks to its full-service approach to advising on all facets of healthcare real estate transactions, the healthcare real estate group at Cox, Castle & Nicholson has represented some of the largest healthcare REITs in the nation, including Ventas, Griffin America Healthcare REIT and Global Medical REIT. The group also represents additional players in the field, from pension funds, hospitals and private owners/operators, to physician groups and all types of investors. Established in 2007 and comprised of commercial real estate attorneys, the group is led by partner and chair David P. Lari, as well as partners Andrew Fogg, David Waite, Greg Caligari, Scott Birkey and senior counsel Scott Abrahamson.  The group has handled a myriad of healthcare-related transactions and advised on acquisitions, dispositions, financing, entitlement and development, construction, leasing and property management, joint-venture, risk management and insurance within the sector. The group works on a wide array of healthcare assets, including medical office buildings, hospitals, ambulatory surgery centers, senior housing projects, skilled nursing facilities and more. Recently, the group has begun advising clients on integrating renewable energy systems into projects to meet California solar and energy mandates. The group also specializes in the relationship between healthcare and land and advises developers and public entities in processing administrative land-use actions, including the negotiation and approval of entitlement documents, development agreements, owner participation agreements, disposition and development agreements, subdivision approvals, conditional use permits, variances, zoning and general plan modifications. The group interacts and appears before government authorities on land-use and zoning issues.

CUNINGHAM HEAL Cuningham’s Heal studio is focused on shaping the healthcare industry by delivering exceptional design based on real-world experience, thorough research and evidence-based solutions. Since the firm began serving the sector in 2010, the team has been involved in the architecture and interior design of healthcare projects totaling more than $2 billion. The team delivers strategically-designed spaces that are tailored to be responsive to the typical flow of patient and healthcare worker needs, while simultaneously offering flexibility as situations change. Understanding that nurses juggle multiple assignments at once and are often forced to multitask due to complex building layouts and tight time constraints, the team, utilizing their philosophy, recently studied the reasonable distance for a nurse to walk to a supply room and whether there was a way for designers to mitigate inefficiencies by assessing the walkability of a given floorplan. In partnership with Cuningham’s research team, the Heal studio developed software designed to measure the distances from each given type of room to the nearest second given type of room, which helps designers verify that their floor plans are optimizing average walking distance. The specific research has the potential to enhance job satisfaction by reducing excessive walking distances and travel times and could lead to more time for critical patient care. In recent years, the team has worked on several significant projects, including the Hamad General Hospital Emergency Department Annex in Qatar and the Banner Desert Medical Center expansion in Mesa, AZ.

CUSHMAN & WAKEFIELD’S HEALTHCARE CAPITAL MARKETS TEAM Cushman & Wakefield’s healthcare capital markets team focuses exclusively on advising healthcare providers, developers and third-party investors on acquisition, disposition and debt and equity strategies across the continuum of care. Since its launch in 2010, the team has carved out a national presence in healthcare property investment, sales and finance. The team is led by Travis Ives and Gino Lollio, who support investors, physicians and healthcare systems in evaluating their real estate portfolios and transacting to assure those clients realize their investment and broader business and system goals. The healthcare capital markets team is adept at understanding clients’ needs and helping them meet their objectives through extensive in-depth marketing, end-to-end transaction management and integrated service delivery. The group has collectively closed more than 100 transactions on more than four million square feet across more than 100 properties, valued at more than $1.65 billion. Last year, the team notably closed the $37.9 million sale of a nine-property portfolio of medical office buildings occupied by GenesisCare. This year, the team closed the more than $100 million sale of the Pomerado Outpatient Pavilion in San Diego, which is one of the western U.S.’s largest transactions overall and is expected to be one the nation’s largest medical office transactions of the year. The group has also consulted and transacted with health systems across the nation on disposition strategies for decommissioned and active hospitals that will no longer serve as short-term acute care operators.

EQUITY MARKET STRATEGY Emerging from the Great Recession, Equity LLC’s market strategy team completed more than 250 urgent cares, resulting in a 10% market share of new urgent cares opened between 2011 and 2013. The majority of these transactions were single-tenant retail or outparcel end caps at major shopping centers, which assisted the team in pioneering the convergence of healthcare delivery in a retail setting. More recently, the team has completed more than 150 behavioral health transactions, predominantly in a medical office setting, resulting in more than 10% market share since 2019. During the past three years, the team expanded its transactional experience to 94% of the top 50 MSAs by completing more than $300 million in transactions. The team now completes transactions in 44 states and represents more than 15 different healthcare use types in retail and healthcare settings. The group currently oversees 700 locations on behalf of clients, totaling more than 2.1 million square feet of location-based healthcare. Led by president Patrick Wathen, managing director Matt Lasky, VP Corey Taber, VP Zach Peterson and associate CJ Huang, the team partners with healthcare tenants to lead rollouts and optimize existing portfolios through brokerage and in-house proprietary analytics. Landlords frequently seek out the team’s expertise to learn how to incorporate medical uses into projects and to identify healthcare tenants’ desires.

H2C’S REAL ESTATE TEAM Founded in 2011, H2C’s real estate team is one of the largest advisors to health systems on real estate transactions in the country. The team, comprising managing director PJ Camp, VPs Matthew Tarpley and Kyle Hopkins, associates Mitch Levine and Michael Fioravanti, and senior analyst Stuart Gilbert, has led real estate strategy shifts in the sector. Its transactions for health systems in recent months include sale-leasebacks, developer selection processes and buybacks of leased real estate portfolios. In 2020, the team handled $700 million in transaction volume; leading it to record performance during the pandemic as healthcare real estate became attractive to investors. Recent significant transactions for the team include a $203 million sale/leaseback for Tower Health, a $140 million acquisition of leased properties for Midwest Health System, an $86.3 million sale of three inpatient rehabilitation facilities, a $22 million shariah-compliant construction loan for a senior living community in Punta Gorda, FL, a joint-venture equity placement for the development of a 48-bed inpatient rehabilitation facility in Phoenix, and a $22 million build-to-suit financing for an inpatient rehabilitation facility in Ohio. The team additionally advises large not-for-profit health systems on the ever-evolving landscape of real estate strategies. Following Fifth Third’s acquisition of H2C, the team is leveraging its presence to expand into alternative asset classes, however, it will continue to specialize in healthcare real estate.

HSA PRIMECARE’S CORE TEAM HSA PrimeCare’s expertise has served as a constant in the ever-changing industry, especially during the pandemic, when its core team worked to plan future medical office buildings, despite market uncertainty. The team, which includes president John Wilson, EVP Robert Titzer, SVP of acquisitions and developments Jon Boley, SVP of development Mark TeGrootenhuis and senior property manager Margaret Gaca, overcame challenges to maintain operations across multiple states last year, while moving forward with the development of three projects. Since its inception in 1995, HSA PrimeCare has developed and managed healthcare facilities, both on and off hospital campuses, and it has worked with major health providers as they adapt to new technologies, regulations and a growing number of mergers and acquisitions, all of which have impacted the size, location and design of healthcare facilities. In total, the firm has developed, leased and/or managed more than two million square feet of medical office buildings. Its decade-long partnership with Silver Cross Hospital in New Lenox, IL has resulted in many successful projects, including the latest phase of a 40,000-square-foot medical office pavilion that opened in 2020. The state-of-the-art facility – the fourth that HSA has developed for Silver Cross since 2008 – houses urgent care, occupational health, primary care, cardio therapy, dermatology and urology. Drawing on its extensive experience developing and operating a range of healthcare properties in geographically diverse markets, HSA PrimeCare’s executives regularly offer insights into the broader healthcare real estate industry.

JLL HEALTHCARE JLL healthcare provides a range of real estate and facilities solutions for hospitals, physicians and other care providers, as well as real estate investors who own and operate medical and senior housing properties. Founded in 1999, the team is led by national practice leader of healthcare markets Jay Johnson; division president of healthcare work dynamics Richard Taylor; SVP and national practice lead of healthcare valuation advisory Erik Hill; senior managing director of M&A and corporate advisory and healthcare group leader Ted Flagg; and senior managing director and healthcare group leader Mindy Berman. The team services 566 million square feet of hospitals, medical offices and clinics annually. The team works in tandem to deliver the services to clients, including advising and implementing real estate solutions for healthcare clients and providing advisory consulting, capital markets, brokerage, construction project management, property management, valuation advisory and facilities management. JLL has more than 2,300 U.S. team members that specialize and focus on the healthcare sector. The team developed its own healthcare industry curriculum, including internal training on Stark Law, Antikickback Statute and HIPAA compliance, which the firm requires all healthcare team members to complete annually. The firm prioritizes developing technologies, such as Geographic Information Systems, to manage real estate performance as an enabler of its clients’ strategy via data-driven decision support, including spending more than $400,000 annually to acquire the most current business data.

JPMORGAN CHASE COMMUNITY DEVELOPMENT BANKING The community development banking team at JPMorgan Chase invests in NMTC, lends to Community Development Financial Institutions and finances affordable housing. Many of these loans and investments support federally qualified health centers or other healthcare organizations that provide primary care to low-income or underserved communities. Established in 2004, the team is led by Alice Carr, Kevin Goldsmith, David Walsh, Cecile Chalifour, Scott Schmid, Bruce Martin and En Jung Kim. Since the start of the pandemic, community development banking has provided more than $179 million of financing to develop healthcare centers and community facilities that support relief efforts in under-invested communities throughout the nation. Last year, the team also implemented a special purpose credit program within its NMTC product to provide additional net financial benefit for projects that meet racial minority leadership/ownership or community service criteria. As an example, the Community of Hope project in Washington D.C. provides healthcare services, specifically maternal care, for low-income families. Last year, the team also invested $2.5 million of NMTC financing to support the Lakeshore Community Health Care project in Sheboygan, WI. The $7.5 million total project cost funded the rehabilitation and conversion of a 20,000-square-foot single-story office into a new federally qualified health center. The Lakeshore facility will provide expanded access to primary care medical integrated with behavioral health, comprehensive oral health, 340B pharmacy, health education and preventive/wellness.

LEE & ASSOCIATES 19500 VENTURA Lee & Associates principal and managing director Scott Romick and associate Eugene Kim advise clients to be flexible and nimble in their approach to real estate with respect to Black Swan risks such as COVID-19. In the face of the pandemic, the two professionals pivoted to meet each client’s unique needs, such as helping landlords identify best uses and implementing marketing strategies to achieve short- and long-term objectives, and they also worked with companies to right-size their office footprint following the growth of remote workforces. Romick and Kim specialize in tenant representation and the sale and leasing of commercial office properties. Making up the 19500 Ventura team at Lee & Associates, Romick and Kim’s latest project in Tarzana, CA, provides much-needed space for those seeking proximity to Providence Cedars-Sinai Tarzana Medical Center. The project, 19500 Ventura, has been fully-renovated to provide new-age medical office development for health and wellness tenants. The project allows tenant improvements and offers ample signage opportunities and new energy-efficient Solarban windows. Upon completion, 19500 Ventura will be a desirable destination for medical and non-medical tenants looking to conduct business inside a newly renovated building with class A contemporary finishes. Since joining Lee & Associates in 2001, Romick has completed more than 800 transactions totaling more than 2.75 million square feet and valuing more than $440 million. Throughout Kim’s career, he has overseen operations for more than 4.5 million square feet of commercial assets and he has transacted leases, acquisitions and dispositions valued at more than $200 million.

ROTI RODGERS GROUP (HEALTHCARE REAL ESTATE DIVISION, MARCUS & MILLICHAP) With 40 years of combined experience in commercial real estate, Frank Roti and Brett Rodgers approach the healthcare market with an appreciation for what the sector brings to the community, as well as its value to clients and investors due to tenants’ strong credit, growth and high lease renewal rates. Formed in 2010, the Roti Rodgers group is part of Marcus & Millichap’s healthcare real estate division. As the first VPs of investments at the firm, Roti and Rodgers lead their nine-member team and oversee all aspects of the group’s CRE services, ensuring clients’ needs are constantly met while also staying ahead of the curve on industry trends and finding prospective properties and opportunities. The team advises physician groups and developers by providing vital information on how to structure their assets to achieve national exposure and receive multiple offers from a national buyer pool. The team has sold multi-tenant private medical practices along with single-tenant assets with investment-rated credit tenants to the national private equity market, along with REITs. The assets range in size from $1 million to $120 million and are located within the Midwest, East Coast and southern states. The pandemic created an influx of opportunities and interest in the sector, which prompted the team to strengthen relationships with clients through strong communication and work ethic, despite uncertainty. Roti and Rodgers are active members of their communities.

NEWMARK’S BOSTON MEDICAL-ACADEMIC PRACTICE GROUP Newmark’s Boston medical-academic practice group is the only real estate brokerage team in Boston focused fully on the specific sector. The group provides leasing, sale/recapitalization and advisory services for a diverse roster of clients, including landlords, tenants and operators. Its areas of specialization include medical-academic institutional advisory, medical-academic capital markets and tenant and landlord representation. With a comprehensive background in the medical academic real estate sector, the group is dedicated to advising hospitals, health systems, academic institutions and owners of medical-academic assets on real estate needs. The group’s advisory services are designed to help stakeholders in medical-academic clusters manage the nuances of the dynamic real estate market surrounding their institutions. Since 2010, the team has been involved in 80 of the largest 100 medical-academic real estate transactions in Boston. Its major lease transactions total more than 10 million square feet and include properties such as Boston Medical Center, Tufts Medical Center, Boston University, Northeastern University, Boston Children’s Hospital, Brigham & Women’s Hospital, Mass General Hospital, Dana Farber Cancer Institute, Harvard Medical School, Harvard School of Public Health, Harvard Pilgrim Healthcare, Beth Israel, South Shore Hospital System and Steward Health. Throughout the past 10 years, the group has executed more than 20 million square feet of medical-academic sales and leases and completed more than $20 billion in aggregate transaction value. The members of Newmark’s Boston medical-academic practice group are committed to supporting a variety of causes and actively support the initiatives of their institutional clients.

RYAN HEALTHCARE TEAM Ryan Cos.’s healthcare team holds perspectives across the end-to-end spectrum of healthcare real estate and facilities, which allows it to challenge conventional thinking and better meet the needs of its clients. Ryan Cos. has been executing healthcare projects since 1993; however, it shifted to a more focused, strategic approach in 2015, upon the founding of its healthcare team. The team provides services in architecture and planning, development, construction, financing and ongoing management of healthcare facilities. Throughout the pandemic, the interdisciplinary healthcare team helped clients evaluate their options in responding to challenges. For example, its development, design and construction teams helped health systems in Tampa, FL identify available, vacant spaces that could be quickly and cost-effectively converted for triage and recovery. Having identified five buildings with potential for repositioning, the team focused on retrofitting two former retail spaces, including a two-story option ideal for installing utilities on the first floor while running med-gas lines to the second floor where beds could be placed. The team also delivered a thorough facility assessment and actionable recommendations for a Minnesota-based health system within less than 24 hours as they prepared for an anticipated surge of COVID-19 patients. Since 2018, the healthcare team has completed more than 1.5 million square feet of healthcare projects across 15 states. The team additionally issues a quarterly email to healthcare leaders with blog posts, whitepapers and articles on the current trends and considerations regarding healthcare real estate.

TRANSWESTERN’S NATIONAL HEALTHCARE ADVISORY SERVICES Transwestern’s healthcare advisory services team is undergoing a robust national expansion, which calls for each team member to learn new skills and meet evolving client and consumer needs. The firm has recruited team members from various healthcare services fields, including nursing and medical device sales, to provide a comprehensive understanding of healthcare users’ real estate needs. The team, founded in 2010 and led by executive managing director Eric Johnson, SVP Ashley Cassel and VPs Jennifer Hutchens and Tanja Marinovic, operates from 21 cities and includes more than 175 members. The group offers services including location strategy, funding and site selection, development, acquisition and disposition, long-term property and facilities management, construction management and portfolio optimization. The team’s experts are well-versed in government policy, industry regulation, financing subtleties and the ever-changing market forces impacting the healthcare field. In 2020, the group established a client-focused construction services team that is dedicated to supporting property improvements through project and construction management expertise, a deep knowledge of the local market, and experienced oversight of client policies and procedures. By utilizing the firm’s local construction experts during the pandemic, the team continued to complete tenant construction projects while supporting owner clients and their assets. In addition, each team member is dedicated to sharing their expertise with younger professionals to help them grow in their careers, and they are committed to giving back to their communities by supporting nonprofit organizations, including those providing relief from the COVID-19 pandemic.

ORGANIZATIONS

ATKINS COS. Atkins Cos., a multigenerational commercial real estate developer, investor and property manager, employs a hands-on approach to managing 700,000 square feet of medical office space while consistently delivering state-of-the-art facilities. Founded in 1949, Atkins Cos. is led by managing partner Bob Atkins and its portfolio spans New Jersey, Pennsylvania, Maryland, Connecticut and Ohio. The transition from a hospital-centric inpatient model to a community-focused outpatient model marks one of the largest seismic shifts in healthcare; a trend Atkins Cos. continues to capitalize on. Atkins Cos.’ understanding of untapped opportunities in the market is exemplified by the company’s execution of several noteworthy projects throughout the past several years. For example, the company acquired a 95,000-square-foot office building in 2017 that was leased to both a regional bank and Hunterdon Healthcare, which was planning an outpatient surgery and imaging center. To reposition the property into a modern, full-service medical office building, Atkins Cos. negotiated a long-term lease with one of the area’s largest healthcare systems for the bank’s space and transformed the property into a regional medical office hub. Throughout the pandemic, Atkins Cos.’ diverse slate of healthcare tenants remained open to provide essential care to the public thanks to building-specific policies and procedures it implemented for sanitation and general building operations, such as anti-microbial cleanings of common areas. Atkins Cos. took proactive measures to ensure that the highest standards of safety and wellness were met by upgrading HVAC filtering systems and installing touchless and self-cleaning features. The company remains driven by the mantra coined by company founder S. Stephen Atkins — “Your handshake and your word are your bond – more important than any written contract.” Now under the second and third generation of Atkins family leadership, the firm’s commitment to integrity remains the same and continues to guide its work in the increasingly competitive and crowded asset class.

CA HEALTH & SCIENCE TRUST CA Ventures launched its medical office and life sciences division in early 2020 in an effort to foster the strategic expansion of the firm’s healthcare real estate offerings across the continuum of care, including medical office, life sciences and senior living. The division recently broke off and formed its own REIT as CA Health & Science Trust. The newly formed private REIT is led by president Russell Brenner and is externally managed by CAHST Management LLC, a global vertically integrated real estate investment management company affiliated with CA Ventures. The REIT recently announced the closing of a $245 million investment from partners Davidson Kempner Capital Management LP, Monarch Alternative Capital LP and CA Ventures, for the acquisition, development and renovation of medical office and life science buildings across the U.S. CA Health & Science Trust has since closed three acquisitions worth more than $85 million combined, for medical office buildings totaling 244,262 square feet in Illinois, Arizona and Indiana. Able to utilize CA Venture’s vertically-integrated platform, synergistic healthcare capabilities and national network, the REIT strives to balance an entrepreneurial approach coupled with institutional experience to create customized solutions. Well-equipped to capitalize on the enormous opportunity existing in the healthcare real estate sector, the REIT is committed to delivering prosperous, sustainable communities that also yield exceptional results for its capital partners and residents.

FLAGSHIP HEALTHCARE PROPERTIES LLC With a people-first philosophy rooted in its five core values — considerate, responsive, optimistic, excellence and grateful — Flagship Healthcare Properties has developed a reputation as a premier healthcare developer in the Southeast and Mid-Atlantic. The company, a fully-integrated outpatient healthcare real estate firm headquartered in Charlotte, NC, is led by president and CEO Brannen Edge, partner and chief accounting officer Tripp Tate, partner and EVP of leasing and brokerage Reed Griffith, and partner and EVP of property management Joseph Shull. Since the 2010 merger of two legacy firms with a 30-year history, Flagship has acquired and developed more than 75 properties and worked with more than 465 tenants. The company offers a full range of services, including investment and capital solutions, development, acquisitions, property sales, leasing and marketing, and facilities, property and asset management. The firm currently manages more than 4.8 million square feet of healthcare real estate across more than 200 properties and 11 states. Flagship additionally serves as the manager of its private REIT, which has a portfolio of more than 1.9 million square feet of medical office space and more than 220 tenants. During the past three years, Flagship has expanded strategic partnerships with healthcare systems throughout the Southeast; recently commencing its sixth and seventh projects for UNC Health, North Carolina’s largest academic health system. Flagship’s rapidly expanding client portfolio has led to internal growth with several new executive appointments as well as entries into new markets, including new offices in Triangle, NC and Atlanta, GA. The company encourages and supports many local nonprofit organizations through volunteering and donations, including American Heart Association’s annual Charlotte Heart Walk.

HAVEN SENIOR INVESTMENTS Driven by faith and the influence of his grandmother, who lived with Alzheimer’s Disease for 20 years, John Hauber founded Haven Senior Investments in 2015. The company combined Hauber’s passion for seniors and real estate. As CEO, Hauber has guided Haven Senior Investments through years of successful growth and performance. Expanding cautiously while moving forward, the company has raised capital from various sources and added an investor to the firm. Haven Senior Investments’ mission is to serve the owners, operators, buyers, sellers, developers and investors in the senior housing and assisted living industry by offering a range of services to help them maximize their objectives and investment returns. The Haven Senior Investments team brings a unique combination of finance, real estate, business, development, operations and healthcare experience to serve varied senior housing clients. The firm operates on a team approach, allowing clients to benefit from the team’s expertise. Its efforts are focused on the areas of independent living, assisted living, active adults and communities that specialize in Alzheimer’s and memory care. In 2021, year-to-date, the firm has already doubled the revenues of its previous best years, and with its current pipeline and transactions under contract, the firm expects to quadruple the revenue of its previous best year. Having honed his industry acumen and leadership skills during the Great Recession, Hauber is described as humble and gracious. He allows his team to be a part of developing the firm’s culture. He also holds a strong commitment to impacting the community outside of commercial real estate.

MONTECITO MEDICAL REAL ESTATE Early in its history, Montecito Medical Real Estate decided to take a physician-centric approach by treating physicians as partners rather than participants in one-off sale-leaseback transactions. This approach helped the company build lasting relationships that have allowed it to attain an influential position in the medical real estate field and achieve its mission: “Physicians take care of everyone; Montecito takes care of physicians.” Physicians have become a key element of the company’s referral network, enabling its ability to grow through word of mouth. The company recognized the importance to physicians of owning the buildings where they practice — as well as obstacles that sale-leaseback deals could present for groups seeking to balance the interests of senior physicians with ownership shares in their property and those of younger physicians who could not yet afford to invest. In response, the company pioneered a model called the Provider Real Estate Partnership that enables physicians to retain ownership in their buildings after a sale, while gaining opportunities for tax advantages, ongoing cash flow from the property, and a share of the profits upon resale proportionate to their retained ownership share. The program has proven so popular among physician groups that the firm emerged as a top privately-held acquirer of medical office properties, and physicians have opted to retain more than $65 million in equity in their buildings through the program to date. The company also created limited partnerships through which physicians can invest in portfolios of high-quality medical office buildings and ambulatory surgery centers. Established in 2006, Montecito Medical Real Estate is led by CEO Chip Conk and president Glenn Preston.

OGA (OMAN-GIBSON ASSOCIATES) After working at his family’s construction company early in his career, Bond Oman decided to do something different and took his construction expertise to a brokerage and mortgage banking company that specialized in the investment side of commercial real estate. Soon thereafter, in 1991, Oman and his partner Tom Gibson founded Oman-Gibson Associates, an asset management firm that assists banks in managing properties that had been acquired during the savings & loan crisis. OGA then began managing properties directly and moved into managing properties for some of the largest healthcare companies in the country. The company is currently led by Oman as CEO, alongside VP Fraser Schaufele, portfolio manager David Horn, VP of development Charles Watkins, VP of development Sam Sarbacker, senior managing director Matt Mattox and managing director Zee Jennings. OGA has developed expertise in site selection, financing and other critical aspects of healthcare development. It has built its business with a wide range of clients and it has developed more than 300 dialysis clinics. More recently, Oman and Gibson expanded the focus of the company to include hospital companies, behavioral health companies and physician specialty practices. In the past six years, OGA has averaged more than $100 million in healthcare development annually and it has developed more than 400 properties across 35 states for customers ranging from physician groups, behavioral health groups and national surgery centers to major hospitals and health systems. Gibson passed away in 2020, and OGA has continued to build upon his legacy with strong growth. Its recent expansion into the Southwest with a dedicated office in Dallas positions OGA for strong, diversified and nationwide growth going forward.

RYCORE CAPITAL LP Ryan L. Urech views healthcare real estate through a physician’s lens; taking into account how medical professionals operate their business and how the healthcare referral system fuels the medical community. Urech’s background in medical real estate and surgical operating companies taught him how to source underperforming medical assets and fix them by catering to the businesses of tenants, improving their operations through amenities and referral sources that complement the tenant mix of buildings. Urech founded Rycore Capital LP in 2019 and he now serves as CEO of the company, where he is responsible for the firm’s strategic direction. Rycore Capital LP focuses on providing enough specialties and medical services in a single building so that patients can see medical providers for an array of services under one roof. The company has grown from a one-person firm to a team of five professionals with a portfolio that will total 1.7 million square feet throughout Texas and the Southeast by the end of 2021. Rycore Capital perceived the pandemic as both a challenge and an opportunity for medical tenants. The firm sought out medical assets in distress to acquire under appraised value, including a building purchased in the fourth quarter of 2020 that had 35% vacancy in shell condition. Since taking over the asset, Rycore Capital has slashed expenses, upgraded the exterior of the building, and constructed a spec-suite in move-in-ready condition. With the cost-cutting initiative and new leases, the asset is cash-flowing double-digit yield to Rycore Capital investors. The firm has two subsidiaries, Rycore Commercial and Rycore Capital Advisors, a Texas-registered brokerage company and an SEC-registered Investment Advisor Representative.

STIRLING PROPERTIES LLC The healthcare delivery system is changing into one where patients are customers and the industry’s goal is to get the product to the consumer in the shortest amount of time. Stirling Properties LLC is capitalizing on the need for healthcare facilities to be close to where patients live — in their neighborhoods and communities. The company is led by a team of executives including president of development Townsend Underhill, development director Mac Bauer and VP of finance and capital markets Justin Landry. Founded in 1975, the full-service commercial real estate company specializes in commercial advisory services, brokerage, asset and property management, development and redevelopment, and investments over a wide array of property types, with a recent focus on the healthcare sector. Its healthcare clients include Ochsner Health System, LSU, St. Tammany Parish Hospital, Our Lady of the Lake, Baton Rouge General and more. In 2017, Stirling Properties developed its first mixed-use medical facility in LaPlace, LA. The micro-hospital was based upon a 20-year lease to Ochsner Clinic Foundation for a 20,000-square-foot freestanding emergency room and imaging services clinic. In 2018, Stirling Properties acquired and subsequently managed the renovation of the shuttered Louisiana Heart Hospital in Lacombe, LA, returning it to commerce through a long-term lease with Ochsner Health System. The 205,000-square-foot building was repurposed into a post-acute care hospital, featuring long-term acute care, skilled nursing and inpatient rehabilitation services in one central location. Stirling Properties currently has more than two million square feet of projects under development and/or redevelopment, totaling nearly $196 million; almost half of which is in the healthcare sector.

TOUCHMARK Touchmark strives to re-shape the senior housing experience by providing superior settings, service, operations and management. Guided by the vision of founder and chairman Werner G. Nistler Jr., Touchmark is committed to providing leading-edge programs in order to enhance the health and wellness of seniors. Founded in 1980, the company is led by Nistler, CEO Marcus Breuer, and VP and controller Tucker Fife. Touchmark develops, owns and operates retirement communities that provide housing and healthcare services in a resort-like setting, designed to meet the needs and desires of seniors. It provides support for all levels of acuity, including independent living, assisted living and memory care. Touchmark recently made a remarkable pivot to protect its residents and staff at the onset of the pandemic, and as a result, occupancy remained high, infections and deaths were low, and the group successfully positioned itself to continue expanding despite the challenging environment. In addition to owning and operating 13 properties, Touchmark also sponsors the Touchmark Foundation, a public charity founded in 2002 in an effort to enhance the well-being of seniors. The Touchmark Foundation aims to become a national organization that improves the lives of seniors by addressing key issues that affect seniors’ lives now and in the future. The foundation takes on this challenge through its connection to Touchmark retirement communities. It gains insights on the pressing needs and emerging trends of the senior population, while Touchmark communities, in turn, benefit from the implementation of programs that address seniors’ needs.