HREI Honors Winning MOBs at RealShare Ceremony

SCOTTSDALE, AZ-Healthcare Real Estate Insights magazine's 2013 awards ceremony, held in conjunction with Wednesday's RealShare Healthcare Real Estate conference here, concluded with a bevy of positive feedback. The publication's managing editor, Murray W. Wolf, who also presented the awards, said that in the 11 years since the magazine launched, he always thought there should have been awards for the healthcare real estate industry.

“It seemed to be more and more of a glaring omission that there wasn't an awards ceremony in this industry,” Wolf said. “This is our first year and it's been a great experience. We've had a great response and the competition was incredible. That made it really tough on us.” 

The winners are as follows:

Best New Medical Office Building (less than 25,000 square feet): DaVita Stevens Creek, San Jose, CA. A $4.1-million, 9,075-square-foot, urgently needed facility delivered in less than six months. Developer: Meridian Property Co.

Best New Medical Office Building (25,000-49,999 square feet): Wylie Medical Plaza, Wylie, TX. A two-story, 49,151-square-foot, class A MOB with a freestanding emergency department and helipad. Developer: PM Realty Group LP

Best New Medical Office Building (50,000-99,999 square feet): Lone Star Family Health Center, Conroe, TX. This two-story, 70,961-square-foot health center came in $1million under budget. Developer: Caddis Partners.

Best New Medical Office Building (100,000 square feet or more): Silver Cross Hospital Pavilion A, New Lenox, IL. This 182,000-square-foot pavilion was completed in a shortened time frame; saved 14% on construction costs; and saved 50% in mechanical, electrical and plumbing costs. Developer: NexCore Group

Best Renovated/Repurposed: Kirkwood Professional Plaza, Dearborn, MI. This former auto parts business headquarters was converted into a 140,000-square-foot, class A patient-convenient MOB at a 20% lower lease rate and in a shorter timeframe than new construction. Developer: Seavest Healthcare Properties/KIRCO Health Partners

Best Post-Acute/Senior Living: Scottsdale Healthcare Rehabilitation Hospital, Scottsdale, AZ. The 50-room, 54,418-square-foot hospital was delivered on time and on budget, and can be expanded by 17,000 square feet. Developer: HealthCap/MedProperties Holdings

Best Inpatient Facility: Central Texas Rehabilitation Hospital, Austin, TX. The developer had to convince a reluctant land owner—the state of Texas—to sell before obtaining new zoning for the $20 million, 50-bed rehab hospital. Developer: Prevarian Hospital Partners LP

HRE Executives of the Year:Christopher Bodnar and Lee Asher, CBRE. The two, in partnership, have teamed on the disposition of more than 6.6 million square feet of medical assets, and, during a recent 24-month span, brokered the sale of more than $1.5 billion worth of healthcare facilities.

Lifetime Achievement Award: Robert A Rosenthal, Pacific Medical Buildings. Rosenthal started PMB in 1988, and with capital partner Dr. Jeffrey Rush, became one of the earliest proponents of the hospital-based, developer-owned MOB.

Mr. Rosenthal, the only award recipient to speak at the ceremony, said he had just last week celebrated his 82nd birthday.

“I am surprised and humbled,” he said, regarding the award. “And if you live long enough, maybe you can win one of these, too.”

Sponsors for the event include: GE Capital, Healthcare Financial Services; Hammond Hanlon Camp LLC; Health Care REIT Inc; HealthAmerica Realty Group; ALM's RealShare Conference Series; Griffin-American Healthcare REIT II, Lillibridge Healthcare Services Inc.; and the Plaza Cos.