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IRVINE, CA—Declining reimbursements, lower market share and keeping up with physician recruitment are among the top challenges healthcare professionals face today that are informing their real estate decisions, Meridian's Andy Hoover tells GlobeSt.com. The San Ramon, CA-based real estate developer, which specializes in acquiring and developing real estate facilities for the healthcare sector, recently hired Hoover as VP of business development, based in the Irvine, CA, office. As part of that role, he will focus on facility acquisition for Meridian's portfolio of medical-industry clients in the Southern California market.

Meridian has been active in many Southwest markets, having recently closed escrow on two buildings—a 51,150-square-foot two-story medical-office building in Phoenix and a nine-story, 175,000-square-foot office building in Contra Costa County, CA. In the last year, the company purchased a 115,000-square-foot medical-office complex in Los Angeles County for $37.5 million and a six-story 105,000-square-foot office building in San Mateo County, CA, for just under $29 million.

We spoke with Hoover about his new role and the factors affecting medical-office users' real estate decisions today.