The company, which looks to create value with its purchases, plans to keep growing
By John B. Mugford
Centum is making $5 million worth of upgrades at the 156,089 square foot Edwards Medical Plaza it owns on the campus of Banner – University Medical Center Phoenix. (Rendering courtesy of Centum)
In December, Philip B. Mahler landed a new position with Denver-based Centum Health Properties, and the veteran healthcare real estate professional tells Healthcare Real Estate Insights that he is excited about the “ambitious and creative” company’s strategies and prospects in the sector.
Mr. Mahler, who started his career in healthcare real estate (HRE) at Ernst & Young in 1998 by facilitating hospital monetizations, is Centum’s new chief investment officer. The move comes after his most-recent tenures at Hammes Partners, where he was a senior VP sourcing MOB acquisitions for the investment arm of Milwaukee-based Hammes Company, and at HFF Inc. (NYSE: HF), where he was a managing director with the company’s MOB advisory practice.
“I’m really excited because this is a company (Centum) totally focused on healthcare facilities that has a great track record of doing development, repositioning and value-add, value-creation transactions and projects,” says Mr. Mahler, who has executed about $7 billion worth of medical real estate transactions on both the principal and brokerage side of the business over the past 20 years. “Our projects are ambitious, as a lot of what we do is acquire healthcare facilities that institutional capital would initially pass on owning, and then we convert or reposition them into facilities they do want to own.”
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