In many ways, the healthcare real estate sector is a stealth one. Year after year, these assets, primarily medical office, produce steady returns with little fluctuation, delighting its loyal investors. Senior housing, another component of this asset class, is much the same albeit with a little more volatility depending on its fundamentals. Still, navigating these categories is no mean feat for the men and women who specialize in them. Regulations hang heavy over the sector and healthcare real estate has not escaped the current issues troubling commercial real estate, namely high interest rates and falling valuations. In the following pages we acknowledge the accomplishments of these people, their teams and their companies.
INDIVIDUALS
SARAH ANDERSON Managing director of health and alternative real estate assets at Newmark Group Inc., Sarah Anderson began her career in senior housing 11 years ago at a time when the commercial real estate investor landscape was shifting from REIT buyers to private equity looking to invest. She worked alongside private equity buyers entering the market at the time and has been involved in real estate equity and financings totaling more than $10 billion for major institutional and private owners across the country. Today, she leads Newmark’s seniors housing & care platform with responsibility for debt origination and structured finance for senior housing throughout the US. Her expertise includes sourcing construction financing, bridge financing, joint-venture and preferred equity placement, and permanent financing through GSEs and life companies. She has devoted much of her career to educating new lending sources and private equity investment committees on the dynamics of the senior housing industry. More than 20 of the transitions she has closed involving lenders or equity investors during the past six years were new to the senior housing space. During the pandemic, which had a unique impact on the senior housing industry, Anderson proactively shared all market intel she could with clients in a weekly email update. She and her team also prepared a comprehensive market presentation that they shared with all of their clients to help them update investors. To address rising interest rates and the challenging capital markets environment, Anderson and her team have helped top clients refinance troubled loans despite limited liquidity in the space. Anderson has spoken on many expert panels about the senior housing industry. She was recognized as a promising leader early in her career and is an executive board member for the American Seniors Housing Association. She is on the Seniors Housing Council for ULI and is a member of the National Investment Center for Seniors Housing & Care.
HELEN M. BANKS More than 40 years ago, Helen Banks began her career in healthcare real estate at a time when very few people, let alone women, specialized in the field. Benefiting from the mentorship of industry leaders, Banks developed experience in leasing, property management, retrofit, relocation, acquisition and disposition, working with physicians, owners, investors, lenders and municipal authorities on a national basis. With 45 years of experience, Banks today is the chairman of TICI Group of Companies and managing principal of Stealth Realty Advisors, overseeing day-to-day operations and management of staff. She works with clients on a national basis to ensure their healthcare real estate requirements are met, including advisory/consulting, tactical/strategic, transactional and back office needs. Her companies publish widely read white papers on a quarterly and annual basis, and Banks shares her experience and knowledge as a mentor to individuals with an interest in the healthcare real estate field, many who have gone on to national brokerage houses and healthcare REITs. Recently, she assisted an existing client with a new start-up fund in procuring $100 million in acquisitions during its first year. She continued to expand the company’s client list and assignments as well as grow her staff and Strategic Alliance Partners to 22 partners in 19 states. Banks also was instrumental in establishing the company’s online presence with its website. She is a member of both the national and Texas chapters of Women in Healthcare, and she is passionate about and active in canine rescue and fostering.
JONATHAN BYKOWSKI Within a few days of opening a new inpatient tower for a client in 2020, Jonathan Bykowski found himself facing the scenarios he planned for when the COVID-19 pandemic hit. The facility was able to flex seamlessly through the demands of the crisis thanks to a transformative and far-reaching master plan for client growth that Bykowski implemented while working in a virtual environment that required creative management of a large team of stakeholders. The same year, Bykowski was elevated to president of Array Advisors, the consulting and operations optimization practice of Array Architects, where he brings 20 years of experience designing and planning healthcare spaces and improving healthcare outcomes. He works with owners, patients, user groups, clinicians, community members and health system leaders to incorporate diverse perspectives and pursue innovative solutions. Bykowski leads a team of strategic planners, health system engineers, architects and planners and guides health system clients through their capital planning journey. Having previously served as the firm’s practice leader for continuous improvement, his promotion cemented the firm’s integrated practice approach rooted in fully understanding clients’ challenges before designing solutions. One of his key strengths is in tailoring project strategies according to each client’s specific needs, understanding their organization comprehensively, and formulating enhancements that provide support and long-term efficiencies. As a recognized industry thought-leader, Bykowski has been committed to knowledge sharing throughout his career. He is a regular presenter at the annual Healthcare Design Conference, often sharing lessons learned from experience around complex hospital expansions or challenging the status quo. He finds his role as a member of the Advancement Council of the College of Architecture and the Built Environment at Thomas Jefferson University among his most rewarding roles.
KENNETH CARRIERO Colliers SVP Kenneth Carriero says he expects independent living and active lifestyle facilities to be in increasing demand as the economy improves and baby boomers continue to age. He leads the firm’s seniors housing group, a national-level practice group dedicated to housing, healthcare facilities and assisted living care for seniors. He has 35 years of experience, including sales volume exceeding $1 billion. In addition to maintaining his own successful practice, Carriero mentors others on all facets of this specialty, ranging from state licensing regulations to handling confidential negotiations. His mentorship extends to his son, Colliers VP Damien Carriero, who is a top-producing partner on the team. Together, the Carrieros have represented local, regional, national and international owner/operators, investors and developers, as well as REITs. Carriero’s focused sector expertise includes sales and leasing management of independent living, assisted living, skilled nursing and continuing care communities. One of his favorite projects is a facility with building challenges and a potential issue with the state licensing agency. He successfully intervened with the state on behalf of the new owner, and the transaction closed as scheduled. Carriero dedicated more than 16 years of his career to easing the challenges of assisted living for kidney patients, while working in the federally funded End Stage Renal Disease program. In this role, he helped design a hemodialysis central delivery system that simultaneously treated 30 patients, and then he opened more than 300 outpatient dialysis clinics worldwide. Eventually relocating to Florida, he continued as a consultant for outpatient renal centers. His unique expertise now accelerates the success of clients who provide senior housing, often featuring healthcare aspects.
BRIAN CHANDLER Brian Chandler is a respected valuation expert for senior housing assets who produces actionable intelligence to guide owners and developers, insurance companies, pension fund advisors, government agencies, commercial lending institutions and investment companies. Chandler brings more than 30 years of commercial real estate experience to his role as senior managing director and national seniors housing practice leader at Partner Valuation Advisors. In this role, he leads an expanding team of valuation experts focused on senior housing as the company builds its specialty practice teams. Chandler was appointed to the position in early 2023 and under his leadership, the team has added seven additional team members focused on conducting appraisals, market studies, large portfolio engagements and consulting assignments for properties on a national basis. He also serves as a member of the firm’s national leadership team. Prior to joining Partner Valuation Advisors, he served as managing director for JLL Valuation and Advisory, overseeing the senior housing team for more than six years in Dallas. In 2022, the team was responsible for valuing in total aggregate market values of more than $45 billion in senior housing assets, which was 10% of the total senior housing market capitalization. Chandler has worked for some of the top owners and developers, institutional investors, government agencies, and commercial real estate lending institutions. He holds an MAI designation from the Appraisal Institute, is a member of the American Senior Housing Association, and earned a CRE designation from the Counselors of Real Estate in 2012. He received a bachelor’s degree in business administration from the University of North Texas in Denton, TX.
RAHUL CHHAJED Rahul Chhajed started the healthcare division at Matthews Real Estate Investment Services along with his business partner, and he has grown into a leader within the sector and one of the top-selling healthcare brokers in the nation. He draws from an extensive database of investors, including institutional healthcare buyers, family offices, syndicators, and private and 1031 exchange buyers. As first VP and senior director at the firm, Chhajed utilizes his extensive experience selling investment properties of various profiles, including opportunistic, value-add, core-plus, and core assets across the nation. Stepping outside the box of focusing on MOBs, Chhajed has extended the division to include veterinary clinics, dialysis centers and plasma centers. In addition to his brokerage achievements, Chhajed plays a pivotal role in collaborating with various stakeholders in the healthcare industry. He works closely with independent physician groups, private equity firms, publicly traded REITs and developers. Through his collaborative efforts, he facilitates the recycling of capital, allowing for continued investments in and development of healthcare assets. He is a mentor for a division comprising 20 healthcare real estate professionals, providing guidance, support and inspiration. Chhajed also dedicates time every summer to the company sales training program by writing lessons, mentoring agents and hosting live training sessions in offices nationwide. He has been recognized as a leader in healthcare, a top closing agent and a social impact leader. He actively oversees and manages fundraising and volunteer events for the Encino office, including organizing and hosting a charity fundraiser golf event.
MATTHEW GARDNER As CBRE’s American life sciences leader, Matthew Gardner advises the firm’s brokers and property specialists about the life sciences sector, employment trends, growth markets and facility needs. Gardner joined CBRE in 2022 and guides the company’s life sciences practice to focus on more than drug-development facilities by broadening its scope to biomanufacturing, incubators and other property types. He also has broadened CBRE’s geographic focus beyond primary life science markets to include 20 additional markets such as Denver and Pittsburgh. Gardner leads dozens of CBRE life sciences specialists in catering to clients’ needs for real estate leasing services. He also coordinates with other CBRE divisions to advise on financing, sales and acquisitions and valuation of life sciences real estate. Gardner has led the creation of a new practice structure for CBRE’s more than 100 life sciences professionals, working in collaboration with management and related practices and services lines. He brings deep biotech industry experience to CBRE via 20 years leading organizations such as the California Biomanufacturing Center, BayBio, MarylandBio and numerous biotech startups. Before joining CBRE, he completed the initial phase of the California Biomanufacturing Center, an incubator and cluster for biomanufacturing talent. Gardner also has served as a thought-leader on a wide variety of topics related to innovation ecosystems. Most recently, he contributed articles in publications including Bioprocess International, Startup Magazine and the Journal of Commercial Biotechnology.
KIM GORDON Greystone Monticello senior managing director Kim Gordon manages and expands the firm’s working capital lending platform for senior housing and healthcare and has become a go-to resource for this type of financing. She works with business development, collateral analysts, asset managers and underwriters to build out the product and institute policies and procedures that scale to meet client needs. This includes putting in a collateral monitoring tool, statistical analysis and bringing her deep credit knowledge and contacts to the table. Under Gordon’s leadership, the total line of credit commitments for Greystone Monticello increased 59%, with the total number of borrowers increasing by 48% since December 2020. She brings more than 30 years of experience in commercial lending to her role with a particular focus on the issues that impact healthcare and the senior housing industry. Her approach is centered on meeting clients’ needs, understanding their business and knowing what the risks are related to transactions. Gordon works to shape a more positive view of asset-based lending as a means to get access to working capital not only in times of distress. Previously, she served as SVP and senior credit administrator at Opus Bank, where she was responsible for all facets of credit oversight for the healthcare lending, structured asset-based lending, lender finance media and entertainment lending verticals within the commercial banking group. She also was SVP and director of credit at Monroe Capital LLC and helped develop a middle-market healthcare lending company specializing in revolving lines of credit and term loans.
ISABELLE GUARINO Through thought-leadership within the senior housing industry, Isabelle Guarino has challenged traditional norms and paved the way for more inclusive and sustainable housing solutions. In her role as COO of the Impact Housing Group, she oversees about 50 employees and is the main stage speaker of the Residential Assisted Living Academy LLC. In 2021, when her father and the founder of the company passed away, Guarino stepped up to fill his shoes during a time of uncertainty. She has extensive experience in building brands and propelling companies into national recognition while running day-to-day operations. She is responsible for creating the RAL National Convention, RAL National Association, Recovery Housing Academy, Pitch Masters Academy and most of the Impact Housing Group’s companies. Guarino’s background in business marketing and communications includes interning at Walt Disney World and working at two Fortune 500 companies. She was recently featured on the BiggerPockets Podcast and was named both a future leader in the senior housing industry and a top senior housing influencer under 30. Guarino volunteers her time and skills to missions work across the world, and she also runs her own charity trips to Jamaica bi-yearly to donate time and money to Denham Town’s Gold Age Care Home.
TAMMY HAYLOCK-MOORE Tammy Haylock-Moore is widely-regarded as a top affordable housing banker in the Southeast, and because she is based in Florida, much of her work involves affordable senior housing. Haylock-Moore is the managing director for Chase Community Development Banking at JPMorgan Chase, where she is known for creating positive disruption and seeking nontraditional financing solutions. By establishing partnerships with developers, she has played a critical role in meeting affordable housing needs in the high-demand Florida real estate market. Recently, she closed a new affordable housing community that brought more than 116 units of affordable housing to Orlando. She also worked on the construction of Heron Estates Senior in Riviera Beach, a new construction 101-unit, three-story tower for senior citizens aged 55 and up. Haylock-Moore is a mentor and resource to younger colleagues and has been instrumental in coaching bankers who are new to the business or the firm. She is a member of the lending committee at Florida Community Loan Fund and a board member of the Coalition of Affordable Housing Providers, First Housing Development Corp. of Florida and the Hillsborough County Housing Finance Authority Florida, which provides public funding for housing development. Previously, she was a board member of the CDC of Tampa Inc., a nonprofit community development organization that serves the Tampa Bay region.
JEFFREY JOHNSON Jeffrey Johnson co-founded Cypress West Partners in 2013 in effort to acquire, develop and manage healthcare properties across the US. During the past decade, the firm has acquired nearly two million square feet and developed an additional 250,000 square feet of medical office properties. Johnson brings 35 years of experience to his role as COO, where he is responsible for oversight of Cypress West’s corporate and property operations, including accounting, property management, leasing, construction management and investor services. Throughout his career, Johnson has provided the day-to-day oversight of more than 4.3 million square feet of commercial product and more than 10,000 residential units, including the disposition of 12 fractured condominium projects totaling more than 1,200 units in seven states and 500,000 square feet of medical office assets. Under his leadership, Cypress West Partners acquired a vacant 30,000-square-foot, single-story medical office building in Mesa, AZ from a group of local physicians who originally developed the building in 2002 and operated a practice there until recently. Along with the acquisition, Cypress West announced a new lease for 20,000 square feet of space with a leading cardiology practice with plans to establish a flagship location. Cypress West is investing more than $3 million in capital improvements to the building including roof, mechanical and site improvements as well as modernizing an existing 10,000-square-foot ambulatory surgery center to current licensure standards and code providing two operating rooms, with an ability to increase to four. Prior to forming Cypress West, Johnson was SVP of research and analytics and SVP of asset and property management for a national medical-related real estate management firm. He has had direct involvement with acquisitions, dispositions, due diligence, construction management, repositioning and day-to-day property management.
DANIEL LINCOLN Through a variety of market challenges from the Great Recession to COVID-19 to inflation and rate hikes, Daniel Lincoln has built a reputation of consistency. A member of CBRE’s valuation and advisory services practice for nearly 14 years, Lincoln has been a consistent resource for his clients, helping them understand the valuation impact of constantly changing market dynamics. He is the national practice leader for the firm’s seniors housing & healthcare group, overseeing a team of 36 senior housing and healthcare appraisal professionals across the US. Lincoln takes pride in the work he has done to integrate Valuation and Information Group after CBRE acquired the firm in June 2023. He is focused on building a team of subject matter experts, industry veterans and leaders as well as recruiting and developing team members who are equipped to provide exceptional client outcomes while also being able to tolerate unfavorable and unforeseen circumstances. Outside of work Lincoln does faith-based volunteer work with Catholic Charities and is involved with fundraising work for the Birmingham Zoo, Baptist Health System and Build Up, a nonprofit early-college workforce development high school.
NICOLE LOCKETT Genesis Cos. managing director Nicole Lockett has been an instrumental leader in the company’s mission to address the lack of affordable housing in under-resourced and vulnerable communities, including senior housing. Lockett brings 25 years of experience to her role, where she oversees the firm’s efforts to develop affordable, mixed-use and mixed-income projects and secure complex housing development financing. Specifically, she executes real estate projects involving Year 15 re-syndication, conventional debt, taxable and tax-exempt bonds, LIHTCs, RAD, HOME, CDBG and other public and private funding sources. Lockett shepherded a 60-unit supportive housing development project for senior residents in East Orange, NJ. The Ted R. Green Senior Residences are 100% affordable, with 15 units set aside for residents who have experienced homelessness and can access on-site supportive services. She also helps oversee the company’s work at the Frederick E. Samuel Apartments, working with the project team to deliver critical repairs and quality-of-life investments to more than 660 apartments across 42 buildings with an average age of 101 years. In addition, she led the company’s work with the NYC Department of Housing Preservation and Development to repair more than 70 apartments in Harlem for longtime renters whose buildings are converting to co-ops and will allow them to become homeowners. Her success is a reflection of the relationships she has built with various community partners including cultural institutions, nonprofit organizations, houses of worship and minority- and women-owned businesses. Lockett is also a leader within the real estate industry, serving on the boards of the New York Real Estate Chamber, the CPC Access program, NYU’s Furman Center and the Advisory Board of the New York Housing Conference.
RYAN MACONACHY With more than 20 years of industry experience, Newmark Group Inc. vice chairman of healthcare and alternative real estate assets Ryan Maconachy consistently ranks as a top producer in the healthcare and senior housing brokerage space. He has completed transactions valued in excess of $35 billion throughout the US, with an annual transaction volume of more than $5 billion in each of the past three years. Maconachy began his career in healthcare and senior housing before the asset class was established as an investment type for institutional capital. Described as hard-working and a diligent self-starter, Maconachy co-founded a brokerage seniors housing group when he was still in his 20’s. In 2019, Maconachy was appointed co-head of Newmark’s healthcare & alternative real estate assets platform and continues to expand the platform through recruiting for best-in-class talent, bringing the platform to a total of 15 professionals in under five years. In this role, he is responsible for healthcare and senior housing-related investment advisory and equity transactions throughout the US. He also focuses on medical office buildings, hospitals, life sciences and biotech practices as well as other alternative real estate asset classes. Maconachy has been an executive board member for the American Seniors Housing Association for eight years. He is a part of the Seniors Housing Council for ULI and is an active member of the National Investment Center for Seniors Housing & Care.
MICHAEL MORENO Michael Moreno started the healthcare division at Matthews Real Estate Investment Services and has represented clients ranging from physician groups, operators, institutions, private equity groups, developers and private investors in the disposition of both individual assets and portfolio transactions. Moreno prides himself on staying up to date on the healthcare field and its regulations and sharing his knowledge with clients. He brings experience in sales, marketing and finance to his role as first VP and senior director at Matthews. In 2022, Moreno closed 153 transactions totaling more than $362 million in sales volume. Colleagues say he is dedicated to his teammates and clients and can often be found up late at night speaking with clients or fellow agents. He is a mentor for a division comprising 20 healthcare real estate professionals, and he dedicates his time every summer to the company sales training program by writing lessons, mentoring agents and hosting live training sessions in offices nationwide. In addition to his brokerage achievements, Moreno plays a pivotal role in collaborating with various stakeholders in the healthcare industry. He works closely with independent physician groups, private equity firms, publicly traded REITs and developers to facilitate the recycling of capital, allowing for continued investments in and development of healthcare assets. He has been recognized as a top closing agent at Matthews as well as a Trusted Advisor of the Year nominee by the L.A. Business Journal in 2021. He actively participates in community-wide clean-ups and volunteer work, such as cleaning up Will Rogers Beach with fellow Matthews Encino employees. Moreno volunteers with other organizations, including the Los Angeles Mission, serving underprivileged communities, and the Jewish Federation of Los Angeles, a group dedicated to helping those most vulnerable in their communities.
ARICK MORTON In an industry where real-time data fuels success, NIC MAP Vision CEO Arick Morton leads the effort to provide the best data, the best analytical tooling and the best client support to help the industry thrive. Morton’s passion for senior housing is in his DNA. His parents were senior housing operators, and he gained invaluable perspectives and experience via dinnertime conversations and interaction with ground-level professionals at a young age. With an affinity for data and analytics, Morton studied at Harvard Business School and the University of North Carolina at Chapel Hill, and his passion for senior housing then led him to create VisionTLC, a senior housing data and analytics startup that provided insights and market evaluations for those looking to expand into the senior housing industry. The firm was acquired in 2021 by the National Investment Center for Seniors Housing and Care to create a new company called NIC MAP Vision. Under Morton’s leadership, NIC MAP Vision provides data, analytics, and services to industry stakeholders and partners in the senior housing industry. He continues to grow the business, and in 2023 alone, NIC MAP Vision expanded to include a new listings service for brokers of senior housing real estate, increased its data and analytics offerings for healthcare providers, and integrated AI-enabled technology powered by OpenAI into its robust senior housing data and analytics platform. Due to Morton’s leadership, NIC MAP Vision is trusted by 18 of the largest senior housing operators and more than 5,000 customers across the country.
SLOANE NICHOLS Colliers SVP Sloane Nichols has more than two decades of experience in the medical field and has emerged as an influencer in the healthcare and senior housing market due to her ability to connect with key stakeholders. Working with her partner Elaine Gillespie during the past six years, Nichols has specialized in representing independent healthcare groups, landlords and medical property owners as well as senior housing in Ohio and Kentucky. Her clientele encompasses a broad spectrum, ranging from small podiatry practices to large behavioral health companies, as well as larger creative and traditional corporate offices. During the past three years, Nichols and Gillespie have completed 51 transactions totaling 375,969 square feet and a deal volume of $22.93 million. She is currently on track to accomplish $15 million in deal volume this year. Notably, Nichols completed the sales of two portfolios comprising five assisted living homes and represented renowned healthcare REIT clients, such as Healthcare Realty Trust and Welltower, and completed a substantial transaction for Healthcare Realty Trust with a leading hospital system. In addition, she successfully leased a class A surgery center encompassing 36,000 square feet. Nichols became the first-ever Colliers Healthcare Fellow within the firm’s Cincinnati office. Under her leadership, the team publishes a quarterly research report dedicated solely to healthcare real estate in Cincinnati. In addition, she remains an active member of the CREW Network, which she joined at the start of her career in real estate 24 years ago.
JACKIE RHONE During her more than 22 years at Greystar, Jackie Rhone has held many operational leadership positions within the property management business, including leading its conventional businesses in the Central South as well as being one of first team members to lead Greystar’s expansion internationally. Today, she is the executive director of the firm’s active adult real estate team, a space the firm entered in 2016 after recognizing that residents over the age of 55 were seeking a sense of community and a robust social calendar to stay active. While much of Rhone’s career was spent in multifamily, during the past four years, she has developed a passion for the active adult sector and built a team of leaders to move the platform forward. When Rhone took over the platform in 2019, there were 27 assets and 5,000 units in the portfolio, and today, Greystar manages more than 100 55+ communities totaling more than 19,000 units under management and around 13,000 owned units spanning 27 states and more than 60 markets. In addition to growing the owned portfolio, Greystar has expanded into third-party management of active adult communities and today has 6,000 of its units under management for third-party clients. Through this growth, the active adult team has not only substantially grown but continues to increase satisfaction scores across the platform with both team members and residents. Rhone serves the NAA as a region VI VP, and she has spoken at many senior housing conferences on the emerging sector of 55+/active adult housing. Together with her family, Rhone started the BeABlake Foundation after the tragic loss of her son, Blake, who was killed by an impaired driver. The BeABlake Foundation’s mission is to educate about the dangers of impaired driving and support further training for law enforcement officers to better identify impaired drivers.
JENNIFER SEILER Jennifer Seiler leads a team of more than 100 professionals exclusively focused on optimizing the value of medical offices and healthcare facilities as managing director of Cushman & Wakefield’s healthcare advisory practice. Seiler has spent more than two decades working with health systems and investor-owners managing complex portfolios with an eye toward building long-term partnerships. She and her team manage 35 million square feet of medical office and ambulatory assets and provide advisory and transaction expertise for healthcare systems, physician practices, and investor-owners and developers. She has onboarded more than five million square feet of new assets within the past four years; successfully expanding Cushman & Wakefield’s portfolio of assets under management by more than 10% annually, even amid the stresses of the COVID-19 pandemic. In addition to leading the asset management teams, Seiler supports the brokerage and transaction teams, sharing the depth of her expertise, particularly with health systems. At the onset of the pandemic, Seiler increased the monthly healthcare advisory practice asset services team calls to weekly to increase the opportunity for information sharing among the team. This cadence of communications and idea sharing ultimately allowed Cushman & Wakefield’s healthcare advisory practice to create pandemic planning and recovery resources, including its acclaimed Medical Office Recovery Readiness and Resource guide and operational checklist, specifically tailored for medical office and ambulatory care settings. This guide was widely used by clients and the healthcare real estate industry at large. As a result, all of Cushman & Wakefield’s 35 million square feet of managed medical office properties remained open and available to treat patients throughout the pandemic. In the St. Louis community, Seiler is an active participant in the United Way of Greater St. Louis Women’s Leadership Society and participated as a mentee through this program in 2023.
DAVID SHARKEY David Sharkey began his career as a project engineer intern at Skanska USA Building 11 years ago and he now serves as a senior project manager at the firm. Sharkey has worked on several of Skanska’s largest healthcare projects in the region, with his first being the Palo Alto Medical Foundation building in San Carlos, CA, for which he managed a variety of exterior scopes as well as high-end finishes. Since then, he has spent the past seven years building a close relationship with Skanska’s Sutter Health client, and he is working on a variety of projects for Sutter Health in different phases of work, including one tenant improvement project, two in preconstruction and design, and two that are in validation. Sharkey has continually improved processes and efficiencies, including the implementation of Dusty Robotics, Takt Planning and Last Planner Implementation, all of which improve production management, shorten schedules and produce cost savings for the company and client. His work on the Sutter Health Samaritan Court Ambulatory Care and Surgery Center is a prime example of how he adapted to the challenges brought on by the COVID-19 pandemic. Despite the project facing significant supply chain delays, Sharkey and his team leveraged innovative construction technologies, including Takt Planning, which ensured individual crews were working in their own work areas to adhere to social distancing policies. Ultimately the project was delivered three months ahead of schedule at a cost savings of nearly $3 million for the client. Outside of Skanska, Sharkey has an active presence at industry events and was selected as a speaker to present a case study on Takt Planning and how the work structuring method streamlines continuous workflow at the 25th Annual LCI Lean Construction Congress. He is a member of both the National Continuous Improvement Committee and the National Tech Enablement Concierge Network with Skanska.
ROBERT TITZER With 25 years of experience in all aspects of commercial real estate, HSA PrimeCare EVP Robert Titzer serves as a respected industry leader in Chicago. His experience spans tenant representation, property marketing, real estate development, land transactions and owner representation. Titzer joined HSA PrimeCare in 2002 and he has been integral in growing the firm into one of the region’s largest developers and managers of healthcare facilities. He oversees leasing activities for the firm’s portfolio, which includes more than one million square feet of healthcare properties across the Midwest. Throughout his time at HSA PrimeCare, Titzer has partnered with healthcare providers to create modern facilities that meet patient needs amid industry changes, including everything from technological advancements to changes in how providers are reimbursed for services provided. He has guided clients in making decisions on facility size, location and design to optimize delivery of care. For example, Titzer worked with Silver Cross Hospital in New Lenox, IL on a state-of-the-art, 40,000-square-foot medical office pavilion that houses urgent care, occupational health, primary care, cardio therapy, dermatology and urology. This new pavilion allowed more providers to secure a location on the fast-growing community campus while benefiting from the continuity afforded by a long-term partnership between the developer and the health system. This year, Titzer led HSA PrimeCare’s purchase of 4.5 acres in Crown Point, IN, where the firm plans to develop two outpatient facilities totaling 60,000 square feet. The strategic development will position HSA PrimeCare to respond to demand from Chicago-area providers seeking a presence in a rapidly growing, less saturated market. Knowing that healthcare providers in 2023 are facing several economic headwinds, Titzer is advising clients to consider alternative solutions such as rehabbing existing facilities, leasing instead of owning, and even resetting expectations on the basic costs of building and operating healthcare facilities.
JUAN VEGA Colliers EVP Juan Vega has the ability to close complex and challenging transactions and has stepped in to accelerate the success of numerous projects that otherwise would stall and leave communities without much-needed healthcare options and providers. In one example, his advisory, negotiation and brokerage services accelerated the success of a layout restructuring, expansion and lease renegotiation for Pinellas Neurology Group. Vega offers 26 years of experience specializing in healthcare, life sciences and office brokerage with a focus on complex leasing and sales transactions, tenant representation, landlord representation, financial analysis, documentation management and negotiation. He represents some of the largest medical companies in the Tampa Bay area and leases several medical office buildings for top healthcare REITs. Recently, he assisted the USF Health Department with a relocation of 20,000 rentable square feet, transacted a sale-leaseback for the Women’s Care Florida corporate office development, and completed the relocation of a large regional urology group practice. In another deal, he negotiated the lease for a 30,000-square-foot cardiology office. While assisting in the value engineering and redesign of the existing space, he helped work out short-term solutions for temporary space. Vega’s deal volume since January 2020 exceeds $135 million. He is a thought-leader in the industry with nearly 1,000 followers on LinkedIn and shares his insights in trade media including a technical analysis of inflation’s effects on the relationship between lenders and landlords particularly in the healthcare sector. Vega is a past chair of both the Hispanic Business Initiative Fund and the Hispanic Chamber of Commerce, an economic development organization that assists Hispanic business owners and entrepreneurs throughout the Tampa Bay Area.
TEAMS
BERKADIA MEDICAL & LIFE SCIENCES Newly formed in 2022, the Berkadia Medical & Life Sciences platform has already made a significant impact on the healthcare and life science industry. Leveraging a deep reach within the debt and equity markets built on many years of healthcare real estate advisory, the team finds investors and financing for clients, including foreign investors looking to increase exposure to US healthcare properties through its alliance with Knight Frank. Led by senior managing director and head of medical and life sciences Sabrina Solomiany, the team holds experience that spans many years at brokerage firms, national banks, developers, private capital and REITs, and members share their knowledge as contributors on healthcare panels. Early this year, during a time of rising interest rates and economic uncertainty, Berkadia was awarded a three-asset single-tenant portfolio totaling 79,000 square feet in Seattle anchored by Evergreen Health. Berkadia Medical & Life Sciences executed a competitive process, receiving multiple bids and drove pricing to above the seller’s expectations. In addition, the team helped one of the top institutional sponsors refinance the Doug Meijer Medical Innovation Building in Grand Rapids, MI, a new class A, seven-story medical office and biomedical building consisting of 205,534 square feet. This building is one of the most sophisticated medical offices in the world and contains advanced molecular imaging capabilities. The team focuses on several areas outside of commercial real estate, including volunteering at Angels Among Us Pet Rescue, volunteering and donating at United Way, volunteering at Chicago Children’s Charities, a local nonprofit organization serving children in the Chicago area, and working with the CFA Society of Minnesota.
CBRE NATIONAL SENIOR HOUSING For more than 25 years, CBRE’s national senior housing team has been a pioneer and leading advisor to institutions in the senior housing sector. Founded in 1998, the team has maintained a market-leading practice in all facets of capital markets, including debt and structured finance, investment sales and equity capital raising. With the growing population of over-65-year-olds and strong tailwinds pointing to higher demand over the next several years, CBRE is positioned to help institutionalize what once was a cottage industry. The team is led by vice chairman Aron Will and SVP John Sweeny, who direct a team of 14 professionals focused on active adult and age-restricted senior housing, independent living, assisted living, memory care, continuing care retirement communities, and skilled nursing/post-acute care. The team’s three vertically-integrated concentrations include investment sales, debt and structured finance, and investment banking. The team has achieved more than $22 billion in transactional volume across 730 assets since 2014. Throughout the past three years, the team has completed $5 billion of investment sales and debt assignments during COVID-19 disruption. It also has helped both operating/development and investor clients navigate the markets to ensure their businesses stay healthy, and in some instances afloat, which in turn has enabled many operators across the country to continue to provide high-quality care to their resident base. Both Will and Sweeny serve on the executive board of the American Seniors Housing Association. Will also serves on the Senior Housing ULI Council, and Sweeny serves on the Active Adult/55+/Age-Restricted ULI Council.
COX, CASTLE & NICHOLSON’S HEALTHCARE REAL ESTATE GROUP Regarded as one of the foremost legal teams in healthcare real estate and senior housing nationwide, Cox, Castle & Nicholson’s healthcare real estate group was founded in 2007 and is led by partner and group chair David P. Lari. The group has advised on more than $5 billion of transactions during the past few years and represents some of the largest healthcare REITs in the nation, including Ventas, American Healthcare REIT, Physicians Realty Trust Health Care REIT and Global Medical REIT. The team also represents institutional investors, developers and hospitals, private owner/operators, physician groups and traditional investors. Throughout the past three years, HREG represented a major senior housing and healthcare real estate investment fund in acquiring 15 senior living facilities valued at more than $320 million, and it advised the client on the acquisition of raw land and the development process for several additional senior living facilities throughout the country. The group has also taken a leading role in advising clients in integrating renewable energy systems into their medical office projects to meet new California solar and energy mandates, a recently emerging trend from local and state regulators. It recently represented a Central Valley healthcare provider in establishing an electric micro-grid, including negotiating and assisting with service, construction and operations/maintenance agreements. Recent work includes the completion of land use entitlements to establish a new hospital and wellness campus as part of the larger master-planned Bakersfield Commons community in the City of Bakersfield. Cox Castle was also a critical member of the transactional team for the purchase of the property, providing permitting and environmental support. The new medical campus is an anchor that will be a catalyst for further development at the 250-acre Bakersfield Commons site, which is planned as a community-serving hub that will include homes, parks, retail, entertainment uses and health resources.
CUSHMAN & WAKEFIELD’S FLORIDA HEALTHCARE ADVISORY PRACTICE Cushman & Wakefield’s Florida healthcare advisory practice has spent years focused on understanding the healthcare business and regulatory environment as well as networking and prospecting to address a market segment that was once underserved and untapped. The team represents some of Florida’s largest hospital systems and primary care physician groups along with numerous developers, REITs and independent physician groups. The team is led by director of Central/North Florida Anne Spencer, senior director of South Florida Michael Feldman and director of West Florida Brian Breeding. The team is part of Cushman & Wakefield’s broader national healthcare advisory practice, which has been serving healthcare clients for more than 20 years and has more than 300 healthcare real estate experts. The team prioritizes increasing access to healthcare services in Florida communities, and its members hold expertise in many transaction types including investment sales, leasing negotiations, build-to-suits and more. It worked with Turner Impact Capital and ChenMed to acquire and open seven strategic locations to provide affordable healthcare service for underserved senior communities in Tampa Bay. The team has on-the-ground coverage across Central, North, West and South Florida, and it supports a variety of clients and can represent both landlords and tenants, a rarity in healthcare brokerage. Cushman & Wakefield’s Florida healthcare advisory practice ended 2022 with more than 100 transactions worth more than $165 million in value and represented 950,000 square feet of assets. Apart from deal activity, the team publishes thought-leadership in a bi-annual Florida Medical Office report. The 12-page report leverages expertise from Cushman & Wakefield’s U.S. healthcare capital markets team and captures medical office space data critical to making business decisions. It is well received by investors, healthcare real estate users and media. In addition, the team sends out its Medical Minutes newsletter, another marketing tool showcasing the latest going on in healthcare real estate.
CUSHMAN & WAKEFIELD’S SAN DIEGO HEALTHCARE ADVISORY PRACTICE Cushman & Wakefield’s San Diego healthcare advisory practice benefits from the team’s immersive experience in both brokerage and the healthcare community. Director Joe Zurek has spent his entire professional career focused on the healthcare real estate sector. He is a member of Cushman & Wakefield’s national healthcare advisory practice and currently manages more than one million square feet of healthcare real estate in Southern California. He has transacted more than five million square feet of healthcare real estate. Senior associate Nehal Wadhwa also brings unique healthcare experience to Cushman & Wakefield. Prior to joining the team in 2021, Wadhwa was a medical practice management consultant for many years and she worked as a commercial real estate broker for the past nine years. Wadhwa markets more than one million square feet of healthcare real estate in Southern California and has successfully leased or sold more than one million square feet of life science and healthcare real estate. She is one of only a few minority and female healthcare real estate brokers currently based in Southern California. The team advises three major health systems in Southern California. Managing the regional footprint for these systems totaling millions of square feet of real estate that helps support an estimated 1.5 million annual patients served by this trio of systems requires complex problem-solving through creativity and analysis. Zurek and Wadhwa publish a quarterly San Diego Healthcare Real Estate Market Report offering local insights and guidance for the benefit of their clients, local physicians and the broader healthcare community. These reports offer statistical analysis, market intelligence and their own expert insights on important topics and trends which have also been used by healthcare professionals as well as by the media to stimulate conversation on market conditions affecting the healthcare industry.
JLL HEALTHCARE JLL’s healthcare platform, founded in 2010, encompasses several practice areas all working to grow overall client enterprise value and service all types of healthcare, senior housing and medical facilities. JLL’s healthcare capital markets experts provide investment sales and capital raising advisory for single assets to large portfolios for institutional and private investors along with health systems. The group includes medical properties and senior housing, and has completed $2.2 billion in total volume from 2022 to year-end. The dedicated debt placement advisors provide financing options on primary and secondary market stabilized and construction projects. JLL’s investment banking group advises public company management and boards and offers fairness opinions and the fund placement business has raised healthcare discretionary private equity funds and REIT off-balance sheet fund vehicles. The healthcare brokerage team works with landlords to optimize tenant appeal and recruitment by delivering marketing campaigns, strategic renovations, new amenities, and data to drive agency leasing strategies, along with using data and analytics to provide insights for location strategy. Other experts provide a full spectrum of services to its clients, including collaborating with the firm’s value and risk advisory team, which provides ongoing quarterly appraisals and buy-side diligence advisory, and JLL’s work dynamics group, which works with healthcare systems and medical offices on improving margins, building out corporate earnings models and providing integrated facilities management programs curated to meet the healthcare entity’s needs. Property management team experts work to ensure physician satisfaction through experience management and the impact the facilities have on patients and families. The project and development services (PDS) healthcare specialists provide a full spectrum of services for renovation, expansion or new construction. The JLL PDS team’s 2,700 project managers complete 22 million square feet and manage $4.4 billion in healthcare project value annually.
NEWPOINT REAL ESTATE CAPITAL’S HEALTHCARE + SENIORS HOUSING TEAM Founded in 2021, NewPoint Real Estate Capital was formed to bring innovation and efficiency to real estate finance. When it launched, the firm was largely focused on traditional multifamily finance, but aware of the demand for creative financing to support the needs of investors serving the nation’s aging population, the firm quickly put into play a strategic effort to broaden and bolster existing products and the originations, underwriting, processing and servicing capabilities for healthcare and senior housing financing. In December 2021, NewPoint executed the first step in this process with the acquisition of Housing & Healthcare Finance, a leading FHA Healthcare origination and servicing business consistently ranked in the top echelon of HUD/FHA LEAN lenders. President of FHA at NewPoint, Erik Lindenauer worked during the past year-and-a-half to integrate teams and operations with a focus on expanding origination capabilities and refining underwriting processes to support a sector recovering from the COVID-19 pandemic. The results of these efforts, and those from the greater NewPoint team, helped NewPoint secure the No. 2 spot for FHA Lean initial endorsements in HUD’s 2022 fiscal year. NewPoint then turned its focus to broadening its product line to include agency senior housing lending solutions from Fannie Mae and Freddie Mac. As a result of the firm’s commitment to the senior housing space, NewPoint achieved the designation as a Fannie Mae Seniors Housing Lender and Freddie Mac Optigo Seniors Housing Lender. NewPoint provides a range of capital solutions – from traditional programs to more creative, innovative financing – supporting the multifamily, affordable housing, senior housing and healthcare sectors.
RYAN COS. – CHILDREN’S MINNESOTA IMRI SURGICAL SUITE PROJECT MANAGEMENT TEAM Ryan Companies US Inc. successfully designed and constructed a complex and challenging healthcare project due to the expertise of the team of healthcare experts leading its Children’s Minnesota iMRI Surgical Suite project management. The team was formed in 2022 specifically to serve Children’s Minnesota and is led by associate director of healthcare architecture Adam McLane, along with senior project manager Micah Vrieze and Superintendent Justin Stattman. The team consisted of more than 30 team members, vendors and subcontractors who collectively came together to construct the nation’s first-of-its-kind pediatric intraoperative MRI neurosurgery suite, equipped with both moving-scanner and moving-patient MRI technology. Located at Children’s Minnesota Minneapolis campus, the site was surrounded by developed land with no room for expansion. The 8,100-square-foot build required the project team to be flexible and creative to solve unique challenges, including the proximity of critical patients surrounding the space in the neonatal intensive care unit above and the pediatric emergency department below. The project was highlighted in Healthcare Design & Construction, and McLane, along with Children’s Minnesota and iMRI team members, presented the challenges and solutions of the project at the ASHE Region six annual conference in Minnesota. The team shared about the obstacles, digging into the details and complexity to help others learn best practices for future projects. On a quarterly basis, the Ryan Cos. healthcare team produces targeted blog articles focused on educating healthcare leaders on the current trends and considerations regarding healthcare real estate and facilities. Since 2018, Ryan Cos. has completed more than 2.2 million square feet of healthcare projects across 24 states.
SNYDER LANGSTON’S HEALTHCARE AND SENIOR HOUSING Since it was founded in 1959, commercial construction company Snyder Langston has built a reputation for providing innovative and high-quality construction solutions for a diverse range of clients including hospitals, outpatient medical centers, assisted living, skilled nursing and memory care facilities. The firm’s healthcare and senior housing team is led by president and COO Lee Watkins, VP of healthcare Max Burcham and executive director of preconstruction, Adam Schneider. During its more than 60-year history, the company has witnessed an evolution of healthcare from hospitals, which have become highly regulated and expensive, to managed care systems focused on preventative healthcare. In 2005, Snyder Langston’s then-president Stephen Jones sat on the board of a large local hospital and realized that its new value-based approach meant moving most outpatient services out of the hospital setting and into medical office buildings. Snyder Langston pivoted its focus to medical office buildings and later expanded to encompass the full continuum of care. As builders, Snyder Langston facilitates the technological advancements of equipment and helps increase access to care by putting healthcare services in places people want to be. The company is involved in projects reflecting the full continuum of care following a patient from preventive care, through medical incidents, rehabilitation and maintenance that might involve acute care hospitals, ambulatory care or long-term care facilities. The firm’s role has also evolved to include behavioral health and senior living sectors.
THE FICKE TEAM OF COLLIERS Founded in 2008, the Ficke team at Colliers has made a strong impact as a major player in the healthcare field with a $1.5 billion transaction volume across 46 states. The team has earned a reputation as a leader in the healthcare space, particularly in Veteran Affairs development and disposition services. Led by EVP Geoff Ficke and VP Zack Ficke, the team has expertise in selling and financing real estate covering a diverse mix of noncredit and investment-grade credit projects. One of the team’s key strengths is its innovative equity finance program, which has proven invaluable for clients seeking capital in challenging deals. Notably, the Ficke team is advising a client on a $70 million bond execution that encompasses seven VA community-based outpatient clinics. The Ficke team serves both private and institutional capital clients nationwide and offers expert guidance to medical operators, advising them on strategic sale-leasebacks and facilitating new lease procurement. Geoff has been consistently recognized as part of the Colliers Everest Club, which recognizes top producers at the firm. He has been named the Dallas office’s No. 1 capital markets producer and a top overall producer within the office, in addition to being recognized as a DCEO Power Broker and a CoStar Power Broker. The Ficke team’s collaborative efforts have resulted in a total of 162 transactions, with a combined value of $668 million.
TRANSWESTERN HEALTHCARE & LIFE SCIENCES ADVISORY SERVICES GROUP Founded in 2018, the healthcare & life sciences advisory services group at Transwestern is strategically involved in positioning Houston as a premier life sciences cluster. The Transwestern Houston group leases more than six million square feet of clinical and lab space and has transacted more than 2,000 leases and building sales in the past five years. With decades of healthcare-specific real estate experience, the team specializes in agency leasing, tenant advisory, investment services and strategic account management. The team has been involved in the design, development and now leasing of Alexandria Real Estate’s Alexandria Center in The Woodlands and Beacon’s Dynamic One building in the Texas Medical Center’s Helix Park. Executive managing director Justin Brasell oversees the entire 17-person brokerage team and ensures clients are equipped with market knowledge while delivering customized strategies. His most notable recent transactions include a 50,000-square-foot lease in The Woodlands to Nurix Therapeutics and a comprehensive redevelopment project for HeightsMED, a 117,000-square-foot medical office project in the Greater Heights area. SVP Ashley Cassel Byrd has been a leader within the group since 2012. She is responsible for leasing more than 2.5 million square feet of a medical office building portfolio and focuses on agency leasing. In the past three years, Cassel Byrd has executed 238 transactions totaling more than 600,000 square feet with notable deals at One Fannin, Physician Specialty Center and 1650 E. Winding Way. SVP Lisa Bovermann has focused on agency leasing and tenant advisory for major healthcare institutions and clients in Greater Houston for the past 17 years. She began focusing solely on healthcare real estate when only a few professionals were dedicated to the then-niche market and started the first healthcare team at CBRE, her former firm. The three are consistently ranked as top producers within Transwestern.
ORGANIZATIONS
AGELESS LIVING COLLABORATIVE Ageless Living Collaborative got its start in 2021 during COVID-19 with a mission to share information about topics such as isolation in senior communities. Since then, it has evolved into a nonprofit focused on improving the lives of seniors. Led by president Phoebe Stein and co-founder and treasurer David Ashen, ALC has undertaken several research projects to help the industry better understand the senior living community and it has presented live panel events on various subjects from senior living typologies to art and light and how they affect the built environment. It has produced about 20 webinars that are available to the public. The organization also created a scholarship fund to support university students who are passionate about design for seniors and awarded its first scholarship last year for $10,000. It plans to award two scholarships to students this year. ALC is composed of a board of directors and an advisory board from different industry sectors, including owners, operators, designers, manufacturers and researchers. In addition to exploring how to improve the lives of seniors, ALC also is interested in exploring how design and culture can prepare for the possibility of future catastrophes.
ATKINS COS. Atkins Cos. is a model of how multigenerational family businesses can achieve success in the competitive healthcare real estate sector. Founded in 1949 by S. Stephen Atkins, the firm is now in its third generation of family leadership via principals Robert Atkins and Chick Atkins. With a history of experience in ground-up development, redevelopment and strategic asset management, the company owns or manages properties spanning more than one million square feet. In the 1970s, Atkins Cos. honed in on an escalating demand for tailor-made medical office spaces particularly in densely populated areas of the Northeast. The company’s hands-on approach has allowed it to work closely with healthcare networks, physician systems and individual practitioners to deliver spaces tailored to their needs in markets including New Jersey, New York, Pennsylvania, Maryland, Connecticut and Ohio. This year, Atkins completed one of its largest transactions, the acquisition of the 490,000-square-foot Medical Offices at Chappaqua Crossing in Chappaqua, NY, along with joint-venture partner Denholtz Properties. Currently anchored by Northwell Health’s Northern Westchester Hospital, the Medical Offices at Chappaqua Crossing is an important piece of the region’s healthcare delivery network. The highly adaptable property provides an ideal template for Atkins to leverage its experience in creating and managing modern healthcare facilities to create a healthcare destination in the heart of Westchester County. Beyond acquisitions, Atkins has also been successful in pursuing healthcare development projects during the past two years. The company’s work is exemplified by its partnership with renowned plastic surgeons Dr. Oren Tepper, Dr. Evan Garfein, and Dr. Arthur Perry to develop Tribeca Plastic Surgery, a two-story luxury aesthetic plastic surgery center and medical offices located in the Hudson Square neighborhood of Manhattan.
DOUGLASTON DEVELOPMENT With more than four decades of experience, New York City-based real estate development company Douglaston Development has developed some of the most prolific senior housing projects in New York and beyond. It recently began move-ins at 2856 Webster Ave., a 12-story, 188-unit affordable senior housing building adjacent to the New York Botanical Garden’s grounds. The building features 12,000 square feet of ground-floor retail space leased to a longstanding neighborhood grocery staple. In addition, the team developed the Seaview Site C in Staten Island, a five-story affordable housing development that delivered 161 housing units to low-income seniors. Outside New York, Douglaston has developed multiple senior living residences in Arizona, including the Vista Winds Senior Living Community, which includes a mix of independent living, assisted living and memory care residences. The firm was founded in 1979 and is led by CEO Jed Resnick, founder and chairman Jeffrey Levine and president Steven Charno. It specializes in a wide range of projects from mixed-use developments, high-rise mixed-income rentals and market-rate condominiums, hospitality, senior communities and commercial spaces. Each development and project led by Douglaston includes a charitable or community-driven component. At Seaview in Staten Island, for example, Douglaston partners with the Staten Island Jewish Community Center to provide on-site social services and connect residents to program offers both at the SI JCC’s nearby facility and throughout Staten Island. Levine is a founding member of both the NYS Association for Affordable Housing and the Kimmel Foundation, a not-for-profit organization dedicated to creating and promoting affordable housing and services for aged, handicapped and other special-needs populations.
NORTHMARQ Northmarq identified the healthcare sector as an essential asset class even before the pandemic brought it into sharp focus. The firm has studied the sector for decades and stayed ahead of shifting trends. For example, 10 years ago, the firm structured a more than $50 million sale-leaseback veterinary clinic portfolio with a leading net lease investor before investing in vet clinics was considered mainstream. Using this and other past experiences, Northmarq has been able to help clients stay ahead of emerging trends, as urgent care centers grew in popularity and as “medtail” became a recognized concept. Founded in 1960 and led by CEO Jeffrey Weidell, Northmarq’s healthcare expertise includes single-asset and portfolio sales, as well as sale-leaseback transactions and 1031 exchanges that span all types of healthcare assets including medical office, urgent care, dialysis facilities, ambulatory surgery centers, freestanding emergency rooms, specialty hospitals and other medical facilities. The firm has closed 700 healthcare transactions with more than $4 billion in healthcare sales volume, including 270 healthcare sale transactions totaling $1.38 billion during the past three years. The firm’s brokers work with clients on all deal sizes, from $1 million or smaller up to $100 million or more, and across all national US geographies. Northmarq has brokered single-asset healthcare transactions in 40 states, with more than 35 multi-state portfolio sales. Recently, the firm brokered the sale of an 18,000-square-foot medical office space for $9.7 million and a net lease dialysis center of 25,000 square feet. Northmarq also recently secured $7.15 million in acquisition financing for Discovery Behavioral Health in Chicago and the refinance of a medical office portfolio for $17.75 million.
SIMONE HEALTHCARE DEVELOPMENT During the past 25 years, Simone Healthcare Development has developed a deep understanding of the healthcare industry. Founded in 1998 and led by president Joe Simone, the firm has designed, built, financed and managed medical office and healthcare facilities for some of the New York Metropolitan area’s largest hospitals and medical practices. It specializes in creating custom-designed healthcare facilities including ambulatory surgical centers, cancer treatment centers, radiology centers, urgent care centers and medical specialty offices. Simone Healthcare Development owns and operates more than two million square feet of healthcare real estate throughout the tri-state region of New York, Connecticut and New Jersey. Recently, Simone Healthcare identified a 100,000-square-foot retail building in Centereach, NY of which 63,000 square feet was redeveloped for Catholic Health to expand ambulatory services in Suffolk County. The development required approvals from several local agencies, and Simone worked with an architect to make it distinct from adjacent retail use with a second entrance for urgent care and a glass canopy for covered patient drop-off. Simone managed the construction of the core and shell work, and the project opened in August 2023. Simone also assisted the Mount Sanai Health System in expanding services in Westchester County by identifying and acquiring a vacant retail building in Scarsdale and programming 20,000 square feet for multiple specialties including allergy, cardiology, dermatology, family medicine, pediatric sports medicine and OBGYN services. The focus on adjacencies during planning increased programming efficiencies, decreased redundancies and improved circulation. The facility is highlighted by its spa-like aesthetic and focus on patient experience. Working collaboratively with the architects, engineers, designers and Mount Sinai Doctors, Simone delivered the project under budget in 11 months and continues to manage the asset. Simone Healthcare’s executives speak at a variety of business and media conferences and panels throughout the year.
