Bisnow Chicago Healthcare Summit 2024 Recap
At the recent Bisnow Chicago Healthcare Summit, Suzanne Hendrick spoke with acquisitions and development professionals specializing in the healthcare sector. Fearon Melton of Resilient Real Estate Partners, Kage Brown of HSG Medical, Jon Boyajian of Echo Real Estate Capital, Molly Phelan of Siegel Jennings and George Ross of Harrison Street gave their unique perspectives on topics ranging from healthcare facilities trends to Chicago’s rating for investment.
?
Most agreed Fed’s interest rate cuts are not a magic pill but they are optimistic, nonetheless. Jon Boyajian noted, “The money faucet is turned back on. We’re all going to do more deals.”
?
Fearon Melton agreed, but touched on the facilities gap and the problem that results you don’t understand the wide-ranging needs of a population.
?
“When healthcare providers think about real estate and population health, they are not just deciding where to deliver care,” she said.?“They are also deciding what care model is best for patients at that location.?Resilient studies population health in different communities, how those differences translate to a bespoke medical office building, and the best ways to maintain the financial viability of the asset.”
?
In a related point, other panelists spoke about the importance of getting patient services out of hospitals and bringing care closer to home. Strategically placed urgent care, ambulatory centers and other specialized facilities are giving people more control over their own health.??
?
Panelists also noted the new focus on patient experience. Healthcare is taking a cue from today’s office buildouts to provide top-level, customized experiences rather than the sterile and uniform visits of the past. ?
?
Attorney Molly Phelan spoke about the challenges that healthcare systems face when compared to other industries, and what they can do to overcome those challenges.
?
“The greatest flaw in the medical industry is that there is no predictability in their finances,” she said. “It takes 6-9 months for a provider to know if a procedure was profitable, and unpredictable property tax liabilities add insult to injury. However, predictability can be attained?with strategic advanced planning.”
?
As a market for healthcare investment, all panelists are bullish on Chicago. George Ross, as originally quoted in Bisnow, pointed to “record-high occupancy figures and rent growth trending toward 3% or higher as signals of strong underlying performance.” He added, “Investors who have been on the sidelines will notice those trends and consider medical office properties to diversify their portfolios, which will bode well for those with a strong presence in the asset class.”
领英推荐
?
Xroads Real Estate Advisors provides asset management, property management and accounting services for a wide range of asset types including healthcare. Connect with Suzanne Hendrick or Kirsten Bowersox to learn more.
?
#healthcare #CRE #MOB #hospitals #facilitydesign #medicaloffice #assetmanagement #development