Cogdell ready to roll
$350M JV FORMED WITH NORTHWESTERN MUTUAL
By John Mugford
For Charlotte, N.C.-based Cogdell Spencer Inc., the idea behind acquiring the country’s largest healthcare design/build firm earlier this year was to fuel growth by offering additional services to clients and expanding its platform nationwide.
It was in March when publicly traded Cogdell Spencer (NYSE: CSA), a real estate investment trust (REIT) that had long concentrated on developing, owning and managing healthcare properties, acquired 100 percent of privately owned Madison, Wis.-based Marshall Erdman and Associates Inc.
The merger not only gave Cogdell Spencer the ability to offer design, engineering and construction services, but upped the company’s nationwide presence to nine geographically diverse offices. It also brought the healthcare REIT into contact with scores upon scores of new clients, as Marshall Erdman says it has worked on about 5,000 facilities since its founding back in the 1950s.
Now, it looks as if Cogdell Spencer has made another move that is likely to fuel even more growth.
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