I don't know who is reading this blog in India, but thank you very much! If you've got investors in Pune who in interested in property over here, give me a call.
Healthcare Real Estate: Looking Beyond The Indicators is such a good article that I am posted some of it here. It was published 10 days ago by Wayne Grohl for The Source blog.
On a side note, my colleague Linda agrees with the conference's tone. This field is growing steadily, but now cautiously. She works extensively in healthcare real estate and sold two hospital sites in the last two years. The third, which was to be a community hospital, was indefinitely delayed.
Healthcare Real Estate: Looking Beyond The Indicators is such a good article that I am posted some of it here. It was published 10 days ago by Wayne Grohl for The Source blog.
With only a few exceptions, the mood was decidedly up at Thursday’s Healthcare Real Estate Conference in Chicago. The investors, brokers, tenants, developers and managers who met at the University Club came to hear about strategies and trends in development, management and capital for medical properties ranging from medical office buildings (MOBs) to large healthcare campuses to retail outpatient facilities.
Superficially, the first indicator from 2012 was a drop in medical facility construction starts. Usually, when a sector sees a drop in national groundbreaking, it's kind of tough to read the tea leaves as anything other than a negative.
That wasn't the diagnosis at the conference.
On a panel including Shawn Janus of Jones Lang LaSalle's Healthcare practice, the drop in starts was likened to a deception associated with long-term factors finally clearing up. "We saw a decrease due to the capital markets still rebounding, and a SCOTUS ruling on ACA, then an election," said Janus. "With all that behind us we're going to see greater activity. On the acute care side, that has dropped off. Community hospital starts has slowed down. But we're going to see high-acuity activity driven into the outpatient environment.
On a side note, my colleague Linda agrees with the conference's tone. This field is growing steadily, but now cautiously. She works extensively in healthcare real estate and sold two hospital sites in the last two years. The third, which was to be a community hospital, was indefinitely delayed.
- Acute care: more or less means large hospitals.
- High acuity: medical interventions for seriously ill people. Typically conducted on inpatients, that is people who stay over night. But the general trend in medicine and the incentives are to take some higher acuity patients and treat them not in hospitals, but in specialized outpatient settings. One classical example of this trend is the dialysis clinic. There was a time that dialysis for kidney patients was conducted primarily inside a hospital: that has changed in a great many places today.
- Outpatient: a patient not hospitalized overnight.
Read the rest of the article by clicking the link at the top of the page.What he's describing is a trend - several trends, in medical payments, technology and facilities management- that will cause an explosion in non-hospital medical facility utilitization for outpatients. Strip mall spaces, office renovations, all manner of off-campus medical facilities are going to form the demand nationally going forward. Consider it a retailization of medicine.
A. Joseph Marshall
Coldwell Banker Commercial
Commercial Real Estate Advisor
Savannah, Ga
912-790-6999
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