FOR IMMEDIATE RELEASE
Media Contact: Connie M. McCaffrey, (651) 214-9987, firstname.lastname@example.org
Healthcare Real Estate Insights™ presented the awards Dec. 6 to the winners of the only comprehensive national program recognizing excellence in healthcare real estate
SCOTTSDALE, Ariz., and MINNEAPOLIS, Dec. 10, 2018 – Healthcare Real Estate Insights™ magazine has announced the Winners of the 2018 HREI Insights Awards™, the only national awards dedicated to recognizing excellence in the areas of healthcare real estate (HRE) development and
The 2018 HREI Insights Awards™ Winners are:
1. Best New Medical Office Buildings and Other Outpatient Facilities (Less than 25,000 square feet): Shirley Ryan AbilityLab Outpatient and DayRehab Center, Burr Ridge, Ill., MedProperties Group
2. Best New Medical Office Buildings and Other Outpatient Facilities (25,000 to 49,999 square feet): CHI Health Clinic Valley View, Council Bluffs, Iowa, NexCore Group and CHI
3. Best New Medical Office Buildings and Other Outpatient Facilities (50,000 to 99,999 square feet): Superior Medical Center, Superior, Colo., PMB
4. Best New Medical Office Buildings and Other Outpatient Facilities (100,000 square feet or more): Northside Midtown MOB, Atlanta, Physicians Realty Trust
5. Best Renovated or Repurposed Healthcare Facility: Salt Creek Medical Campus, Hinsdale, Ill., MedProperties Group
6. Hospitals and Other Inpatient Facilities Best New Ground-Up Development: California Pacific Medical Center Mission Bernal, San Francisco, Sutter Health
7. Post-Acute & Senior Living Facilities Best New Ground-Up Development: Heartis Village North Shore, Glendale, Wis., Caddis
8. Healthcare Real Estate Executive of the Year: Steve Bolen, LaSalle Investment Management
9. Lifetime Achievement Award: Michael A. Noto
Please see Fact Sheet (below) for further details.
For high-resolution photos of all the Winners, please email us at email@example.com.
The 2018 HREI Insights Awards™ Sponsors are:
■ Caddis http://www.caddis.com/
■ Davis http://www.davisrealestatemn.com/
■ NexCore Group http://www.nexcoregroup.com
■ RealShare Healthcare Real Estate Conference https://www.eiseverywhere.com/ehome/306663/661182/
■ Welltower http://welltower.com
■ American Healthcare Investors http://www.americanhealthcareinvestors.com
■ Lillibridge http://www.lillibridge.com/
■ MedProperties Realty Advisors http://www.medpropertieslp.com/
■ Rendina http://rendina.com/
■ Winstead http://www.winstead.com/Practices/Healthcare/Healthcare-Facilities-Real-Estate
The 2018 Winners and Finalists will be featured in upcoming editions of Healthcare Real Estate Insights™ magazine, the 2019-20 HREI Resource Guide™ and on HREInsights.com.
About Healthcare Real Estate Insights™
Launched in 2003, Healthcare Real Estate Insights™ (HREI™) was the first and remains the only national media organization entirely dedicated to covering healthcare real estate (HRE) development, financing and investment. This monthly, national, business-to-business print and digital magazine offers sophisticated players the most comprehensive coverage in the industry available anywhere. HREI’s other HRE sector innovations include the HREI Insights Awards™ (introduced in 2013), the first and only comprehensive awards program recognizing excellence in HRE development and executive leadership; the HREI Resource Guide™ (launched in 2008), the first and only annual directory of HRE services; and HREI’s companion website, HREInsights.com, with more than 15 years of content, including more than 6,400 articles, news releases, property listings and other postings, and is the undisputed hub of HRE news and information. In 2016, HREI also launched its widely read HREI weekly e-newsletter. To sign up for the free e-newsletter, please click here. For more information on HREI products and services, or to subscribe or advertise, please visit us at HREInsights.com.
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HREI Insights Awards™ 2018 Winners
■ Best New Medical Office Buildings and Other Outpatient Facilities (Less than 25,000 square feet): Shirley Ryan Ability Lab Day/Rehab Outpatient Center, Burr Ridge, Ill. Developer: MedProperties Group. Shirley Ryan AbilityLab has opened a new $10.75 million, 24,943 square foot MOB that transformed a dreary suburban business/retail center into an innovative rehabilitation setting. MedProperties Group skillfully achieved the client’s desire for a modern, dynamic building that embodied their international reputation for groundbreaking innovative treatment as well as the look and feel of their downtown Chicago rehab research hospital. Working collaboratively with the client, architect, city planners and neighbors, the barriers of a transitional district with strict zoning guidelines were successfully overcome The project’s success has led AbilityLab to hire MedProperties Group for its next development in Homewood, Illinois.
Lake Chabot Clinic, Castro Valley, Calif.,Meridian
Cardiovascular Medicine Medical Office Building, Moline, Ill., Ryan Cos.
St. Elizabeth Physicians MOB, Greendale, Ind., Anchor Health Properties
Carolinas Center for Ambulatory Dentistry, Charlotte, N.C., The Keith Corp.
■ Best New Medical Office Buildings and Other Outpatient Facilities (25,000 to 49,999 square feet): CHI Health Valley View Clinic, Council Bluffs, Iowa. Developer: NexCore Group. CHI Health sought third-party capital, development and site selection expertise to develop several fast-track projects, including its 38,700 square foot Valley View Clinic in the fast-growing Council Bluffs area. NexCore helped the client develop a highly adaptable, scalable prototype to replace aging undersized facilities in the region and across the U.S. NexCore’s integrated creative solutions have optimized the facility to provide an estimated 22 to 28 percent productivity increase, reinforcing collaboration between providers and support staff and allowing patients to receive ancillary care without leaving exam rooms. The model easily adjusts to market need and patient volumes for future projects.
610 Medical Center. Brooklyn Park, Minn., Ryan Cos.
Allen Medical Plaza, Allen, Texas, MedCore Partners
RadNet Medical Plaza, Riverside, Calif., PMB
Roper Physicians Partners, Charleston, S.C., The Keith Corp.
■ Best New Medical Office Buildings and Other Outpatient Facilities (50,000 to 99,999 square feet): Superior Medical Center, Superior, Colo. Developer: PMB. Dr. Hsin, founder of Cornerstone Orthopedics and Impact Sports Training Facility, envisioned a complementary destination health and wellness facility. PMB was introduced to the opportunity, fell in love with the project’s location in Boulder County, current synergies among existing tenants, strong demographics and substantial upside. They co-partnered in the 60,000 square foot development, sharing the Superior Medical Center’s equity, debt and construction guarantees. Located at Downtown Superior, a 100-acre mixed use development, the project is representative of a nationwide growing trend in healthcare provision. Its many value-adds include strengthened relationships with local healthcare providers and multiple new opportunities.
Downtown West Medical, Los Angeles, Inception Property Group/Robhana
Hattiesburg Clinic Musculoskeletal Center, Hattiesburg, Miss., Sina Cos.
Cleveland Clinic Florida, Coral Springs, Fla., Rendina Healthcare Real Estate
CityPlace Medical, Woodbury, Minn., Davis
■ Best New Medical Office Buildings and Other Outpatient Facilities (100,000 square feet or more): Northside Midtown MOB, Atlanta Developer: Physicians Realty Trust. With the Midtown area of Atlanta booming with new residential, commercial and business developments, demand for medical services has been growing in recent years. Northside, a three-hospital system, is certainly meeting that demand in the hot market with its new 12-story, 168,676 square foot MOB, which opened in July 2018. Projected to serve up to 500,000 patients annually, the fully occupied facility includes a cardiology department, street-level urgent care, a surgery center, and other services. Knoxville, Tenn.-based Realty Trust Group and its Atlanta team provides leasing and management services and represented Northside in the sale of the building to Physicians Realty Trust (NYSE: DOC).
Drexel Town Square Health Center, Oak Creek, Wis. HSA PrimeCare Providence Breeze Advanced Care Center, Torrance, Calif. Snyder Langston Summit Healthcare Outpatient Pavilion, Show Low, Ariz. NexCore Group DaVita Labs, DeLand, Fla. Oman Gibson Associates
■ Best Renovated or Repurposed Healthcare Facility: Salt Creek Medical Campus, Hinsdale, Ill. Developer: MedProperties Group. Salt Creek Office Park was a 1970s, multi-building office complex with only 31 percent occupancy, but with a campus-like setting and outstanding location. MPG had a vision to transform the campus into a medical destination. Through extensive adaptive re-use and development, and new property management and leasing teams, MPG was able to repurpose and reposition the campus. It’s currently under contract to a leading senior living operator, which will create new patient opportunities for on-campus physicians. Current tenants also are attracting new healthcare tenants resulting in the transformation to 100 percent medical use with a total occupancy of 91 percent.
La Verne Medical Square, La Verne, Calif.
StoneCreek Co. Vanderbilt Dialysis Facility, Nashville, Tenn.
Oman Gibson Associates Grunow Memorial Medical Center, Phoenix
Meridian Cardiac Solutions Medical Clinic & HQ Plaza Companies
■ Hospitals and Other Inpatient Facilities Best New Ground-Up Development: California Pacific Medical Center Mission Bernal, San Francisco. Developer: Sutter Health. CPMC decided to replace its aging St. Luke’s hospital with a new acute-care facility. The site was master planned to phase the project around a historic 1970s building and allow for continued use of the nearby existing building until the new hospital could be occupied. The new hospital is a seven-story, 120-private bed facility occupying 215,000 square feet. The project is LEED Silver certified and built to meet the state’s seismic requirements. The hospital was slated to open in 2019, but was delivered five months ahead of schedule due to the use of innovative building techniques, including advanced 3-D modeling.
Houston Methodist The Woodlands Hospital, The Woodlands, Texas, Page
Destiny Springs Behavioral Health Hospital, Surprise, Ariz., Caddis and MedProperties Realty Advisors
Lucile Packard Children’s Hospital Stanford, Palo Alto, Calif., Lucile Packard Children’s Hospital
Texas Children’s Hospital Legacy Tower, Houston, Texas Children’s Hospital
■ Post-Acute & Senior Living Facilities Best New Ground-Up Development: Heartis Village North Shore, Glendale, Wis. Developer: Caddis. A primary challenge of Caddis’ first senior living project in Wisconsin was environmental as a nearby industrial facility had previously brought construction waste onto the project site. Also, Caddis needed approval not only from the city, but also the property owner’s association, as well as approval to add senior housing as a permissible use. Today, the community is situated in a beautiful area with access to local healthcare services. To capitalize on the proximity to the Milwaukee River, Caddis built a walkway to the river for easy access by residents. The property owner’s association has enthusiastically embraced the community.
PAM (Post Acute Medical) Rehabilitation Hospital of Centennial Hills, Las Vegas, Sina Companies
Heritage Crossing Assisted Living & Memory Care, Akron, Ohio, NexCore Group
Heartis MidCities, Bedford, Texas, Caddis
Mercy Rehabilitation Hospital, Clive, Iowa, The Sanders Trust
■ Healthcare Real Estate Executive of the Year: Steve Bolen, LaSalle Investment Management. Since joining LaSalle Investment Management (LIM) in 2000 to establish the firm’s MOB investment practice, Mr. Bolen has overseen more than $2 billion worth of transactions on behalf various funds and accounts. The person nominating Mr. Bolen says, “Steve is thoughtful in which assets he pursues, taking a laser-like focus to new investments and ensuring that when he finds something he likes, he closes the transaction. His investment process is streamlined and efficient.” The past year was a particularly big one for Mr. Bolen, who led LIM’s acquisition of the 28-story, 510,000 square foot Memorial Hermann Medical Plaza in Houston for $405 million.
Mark A. Davis, Davis
Chip Conk, Montecito Medical
Sharon Harper, Plaza Companies
Richard Rendina, Rendina Healthare Real Estate
■ Lifetime Achievement Award: Michael A. Noto. Before he joined the healthcare real estate (HRE) sector, Michael A. Noto worked in commercial lending and then became an attorney and built a successful law practice in New York in the 1980s and ‘90s. He moved his family to Florida where he met the late Bruce A. Rendina, founder of what is now Rendina Healthcare Real Estate. Mr. Noto provided legal services for the firm and then was asked to run Rendina’s property management company, which at that time had a portfolio had about 35 buildings. In 2005, Rendina sold about 28 medical office buildings (MOBs) to Windrose Medical Properties Trust, which was, in turn, acquired in 2006 by Health Care REIT, now Toledo, Ohio-based Welltower (NYSE: WELL). In 2007, Windrose, then operating as a business unit of Health Care REIT, acquired another 18 MOBs from Rendina, as well as the firm’s affiliated Paramount property management group, which was headed by Mr. Noto. The REIT, which had previously focused on senior housing, relied on Mr. Noto to help it navigate the medical office sector. During Mr. Noto’s decade with Health Care REIT/Welltower, the REIT grew its MOB portfolio to 250 properties by making acquisitions and developing properties through its numerous joint venture partnerships. During this time, Mr. Noto became well known as an expert speaker and panelist at HRE industry conferences. Mr. Noto retired in summer 2018 and now lives with his wife, Carol, near the beach in Jupiter, Fla.
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