Feature Story: Finalists: Lifetime Achievement Award

James O. Meadows

Meadows & Ohly

The year was 1972. HRE was not a recognized real estate asset class. Yet James O. Meadows led the development of Meadows & Ohly’s first MOB. With an innovative and entrepreneurial approach, Mr. Meadows and his partner Carl Ohly pioneered the limited partnership physician ownership model in multi-tenant buildings – a model the company uses to this day. As part of his innovative approach, Mr. Meadows studied and developed a deep understanding of physician practices, referral patterns, hospital-physician relationships and trends. Now retired, Mr. Ohly was among the first to identify best practices that are now considered HRE basics, such as leasing strategies based on hospital proximity and referral patterns.

Tim Oliver

NexCore Group LP

As one of the original founders of NexCore Group LP, Tim Oliver has been intricately involved in the growth of the HRE firm that now has 50 employees, five offices and has completed more than $543 million worth of projects. Over the course of his 43-year career, Mr. Oliver has been involved in a number of innovations involving medical real estate. In 1975, a company he co-founded developed what was then only the second MOB to be developed on any hospital campus in the Rocky Mountain Region. In 1986, another company he co-founded developed one of the country’s first medical malls, or a “hospital without beds.”

 

Bruce A. Rendina

Rendina Cos.

HRE was a misunderstood asset class when Bruce A. Rendina made it the focus of his development business in the 1980s. He became one of the first to develop on-campus MOBs for hospital systems, as well as one of the first to offer equity participation for physician-tenants. The risks paid off. During his career at DASCO and Rendina Cos., he developed more than 5 million square feet of space valued in excess of $4 billion. Mr. Rendina passed away in 2006, but his legacy lives on as Rendina Cos. remains one of the HRE sector’s most successful companies.

 

Robert A. Rosenthal

Pacific Medical Buildings

Robert A “Bob” Rosenthal, founder of Pacific Medical Buildings (PMB), is one of the HRE sector’s founding fathers. He owned a healthcare architectural firm in Madison, Wis., before moving to San Diego in the late 1960s. After working for others, Mr. Rosenthal started PMB in 1988 and, with capital partner Dr. Jeffrey Rush, became one of the earliest proponents of the hospital-based, developer-owned MOB. Mr. Rosenthal grew PMB into perhaps the most significant third-party developer, owner and manager of MOBs on the West Coast. At 81, Mr. Rosenthal is semi-retired but is credited with devising many of the HRE strategies still routinely used today.