JLL Brings In Healthcare Veteran to Lead Carolinas Practice

CHARLOTTE, NC—Jones Lang LaSalle sees growing opportunities in the Carolinas for healthcare real estate deals—and the firm is bringing in new blood to help capitalize on it. JLL has hired Mike McGarry as senior vice president of its Healthcare group in Charlotte.

McGarry brings financial, real estate and healthcare experience to the JLL table. He joins from Five Oaks Capital, a private equity firm where he focused on small capital acquisitions and start-ups in the technology and leisure industries. Prior to Five Oaks, McGarry founded and served as principal owner of Lexington Property Group, a healthcare real estate company that advised hospitals and health care systems on real estate transactions involving physicians and key employees.

“Mike brings a strategic approach to healthcare real estate, as well as an outstanding portfolio of advisory experience,” JLL Charlotte market director Chase Monroe said in a statement. McGarry will advise existing clients and seek new business development for the firm’s healthcare-related service lines, including project and development services, property and facility management, brokerage and capital asset strategy.

McGarry tells GlobeSt.com he sees plenty of opportunity in the Carolinas healthcare industry—and not only plenty but growing. He points to the healthcare platform in the region, with hospital systems and teaching and research universities. He also sees two key trends that JLL can leverage.

“The biggest trend in healthcare right now is finding ways to operate more efficiently,” McGarry says. “The other trend is to take healthcare to the consumer rather than having consumers go to the healthcare. Those two trends are somewhat opposed, and it’s expensive to be everywhere. Everybody has to do more with less. In the healthcare world that’s a legislative mandate, not just a corporate mandate.”

JLL has operated in the Carolinas since 1999, managing local transactions and properties on behalf of clients headquartered across the region from its offices in Charlotte and Raleigh. JLL leases more than 31.3 million square feet of assets across the Carolinas. But McGarry expects to see an uptick in business in a competitive healthcare landscape that’s changing both rapidly and dramatically.

“Our goal and our focus will be to do what’s important for our clients,” McGarry says. “How do we use real estate to address operating efficiency and help improve the patient experience and the patient outcome? How can we take healthcare to the patient? There’s a tremendous amount of pressure on healthcare providers to continue to deliver better and better care. At the same time, healthcare players are being forced to cut their costs and reimbursement rates are declining. We want to offer solutions.”