HEALTHCARE INFLUENCER: Healthcare Real Estate Capital
Healthcare Real Estate Capital, a boutique advisory firm that has executed more than $10 billion in transactions across the US since its founding in 2008, is having a very good year.
Healthcare Real Estate Capital, a boutique advisory firm that has executed more than $10 billion in transactions across the US since its founding in 2008, is having a very good year. In the past 12 months the firm has completed nearly $1.3 billion of deals and it is sitting on a robust pipeline of more than $1 billion.
In addition, HRE Capital has recently come to market with a 14-asset national portfolio of medical office buildings owned by the Milwaukee-based Landmark Healthcare Facilities. The portfolio encompasses approximately 1.5 million square feet in eight states and the firm believes it will trade for around $750 million, a significant amount for the MOB space.
HRE Capital typically is engaged in $500 million in assignments annually. It provides investment sales, capital raising for both debt and equity, development funding as well as advisory services. It has executed major hospital monetizations and advisory assignments for such systems as Baylor Health Care System, Yale-New Haven Health, Scottsdale Healthcare, Saline Memorial Hospital and Kettering Health Network among others. More fundamentally, the company prides itself on its ability to understand transaction value drivers in these deals and the nuisances of the healthcare real estate asset class.
Over the years the team has built deep relationships within the industry. Led by managing principal E. Hunter Beebe, the team behind HRE Capital includes managing director Jeffrey H. Cooper, and senior vice presidents Brent Farrell and Joe Dominguez; William Earl, vice president, and associate Stefano Breuer.
During the past three years specifically, it has grown its presence in the healthcare real estate sector by serving as an advisor to major developers and institutional investors in several landmark deals. One of these transactions was the $285 million Greenville Health System MOB portfolio sale, a 16-asset portfolio in Greenville, SC. HRE Capital facilitated the transaction between the seller, Healthcare Trust of America and the buyer, a joint venture between HCP and Morgan Stanley. Another notable transaction it completed was the $250-million equity capital raise for Catalyst Healthcare Real Estate. HRE Capital helped establish a programmatic joint venture relationship to fund healthcare real estate acquisition and development projects across the Southeast and Midwest.