‘An Extraordinary Moment’ for Healthcare RE

DeRosa: “Think of us a healthcare delivery business that is real-estate heavy, as opposed to a real estate company that chooses to invest in healthcare.’”

NEW YORK CITY—Earlier this month, executives with healthcare REIT Welltower Inc. joined with Miss USA Olivia Jordan and the Alzheimer’s Association to ring the opening bell at the New York Stock Exchange and to illuminate the Empire State Building in purple light to help raise awareness of Alzheimer’s disease. That same day, Thomas DeRosa, CEO of the Toledo, OH-based REIT, was named national honoree at the association’s annual Brain Ball in Washington, DC.

For DeRosa, Alzheimer’s has had a personal impact: his father died from complications of the disease. It’s also a focal point for what he sees as a transformation of the healthcare/real estate continuum. Earlier this spring, for example, Welltower and Hines partnered on what will be a 15-story assisted living facility for the underserved seniors population in Midtown Manhattan. It’s not exactly the customary setting for seniors housing, but DeRosa believes we should expect to see more such developments in years to come. GlobeSt.com sat down with DeRosa recently to discuss the changing landscape; part one of the conversation appears below.