DALLAS-Following a close to decade-long stint leading Trammell Crow Co.’s Healthcare Development initiative, Kevin O’Neil is returning to parent company CB Richard Ellis as senior managing director for the company’s Global Corporate Services business. Stepping into O’Neil’s place is TCC principal and senior vice president Jud Jacobs, who will be responsible for overseeing healthcare-related development and investment projects with TCC offices nationwide.
O’Neil tells GlobeSt.com several factors prompted the moves. For one thing, his 21-year background has been evenly divided between healthcare issues and Global Corporate Services, where he was before launching the company’s Healthcare Initiative.
Global Corporate Services is a hot field right now, he explains. Corporations are anxious for cost-saving initiatives, and joining executive managing director Jim Hayden and vice chairman Bill Concannon means “we can deliver some timely solutions to the clients that need them right now,” O’Neil says.
Then there was Jacobs himself. “Jud’s an extremely talented guy,” O’Neil says. “There are times when people are ready to step in and run things. He’s very much ready for this initiative, which has provided significant growth and upside for the company.”
Jacobs, a 20-year real estate veteran who has spent ten years handling medical real estate and related issues for Trammell Crow Co., tells GlobeSt.com some of the challenges he will face in the new position include competition flooding into the healthcare market. “A lot more players have discovered healthcare space, and a lot more institutional investors have discovered medical office buildings as a viable asset class,” Jacobs says. On the bright side, he adds, “these properties tend to perform well, even in a down economy.”
As a result, Jacobs believes the company’s Healthcare Initiative will continue being a bright spot over the next several months when it comes to deal flows. He says a few projects are pending, but could not discuss details.
In addition to overseeing healthcare development and investment activity with principal Eric Fisher, who operates out of TCC’s east coast office and senior financial analyst Adam Nims who works from the Dallas location, Jacobs will work with Partners Health Trust, a wholly-owned subsidiary of the company. The fund is headed up by Mark Allyn, senior managing director with TCC’s capital markets group in Dallas.