Industry experts at the recent GlobeSt.com Healthcare conference in Scottsdale, Arizona, provided valuable insights into capital acquisition and lending strategies for healthcare properties. The panel, moderated by CBRE's Angie Weber, featured Steve Leathers from Transwestern, Matt Poulos from Capital One, and David Lynn from Unity Investment Management.
Market Outlook
The panelists expressed optimism for the healthcare real estate market in 2025. Steve Leathers anticipates a more robust volume, citing the Federal Reserve's recent short-term rate cuts as a contributing factor. He also noted that pricing remains attractive over a 10-year horizon, and the market is expected to be more net neutral in 2025.
Lynn acknowledged the challenges of the past two and a half years but highlighted improving conditions. He noted that market dislocation is easing, inflation is decreasing, and investor confidence is returning. "There's a thaw happening in the market, making things more palatable from the debt side," Lynn remarked.
Poulos shared his optimistic outlook, pointing to declining inflation trends and a strong economy as factors likely to encourage investor return.
Private Equity's Role
The growing prominence of private equity in healthcare real estate was a key topic of discussion. Lynn noted that while private equity has sometimes been viewed negatively, their involvement has generally been positive. He highlighted faster credit decisions with private owners, good experiences in transactions, and their contribution to increased efficiency in healthcare systems nationwide. Poulos added that from a lending perspective, they prefer lending backed by private equity.
Operational Considerations
Leathers emphasized the importance of understanding the operational aspects of healthcare properties. He stressed the need for interviewing management teams, ensuring alignment with property users, and verifying the long-term commitment of healthcare providers.
Capital Strategies for Healthcare Systems
The panel discussed how healthcare systems could benefit from monetizing their real estate assets. Leathers explained that as advisors, they help health systems looking to unlock value from their properties. Lynn added that encouraging healthcare clients to invest capital into their core business has become a key strategy.
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Natalie Dolce
Natalie Dolce, editor-in-chief of GlobeSt.com, is responsible for working with editorial staff, freelancers and senior management to help plan the overarching vision that encompasses GlobeSt.com, including short-term and long-term goals for the website, how content integrates through the company’s other product lines and the overall quality of content. Previously she served as national executive editor and editor of the West Coast region for GlobeSt.com and Real Estate Forum, and was responsible for coverage of news and information pertaining to that vital real estate region. Prior to moving out to the Southern California office, she was Northeast bureau chief, covering New York City for GlobeSt.com. Her background includes a stint at InStyle Magazine, and as managing editor with New York Press, an alternative weekly New York City paper. In her career, she has also covered a variety of beats for M magazine, Arthur Frommer's Budget Travel, FashionLedge.com, and Co-Ed magazine. Dolce has also freelanced for a number of publications, including MSNBC.com and Museums New York magazine.
