Special Report: What to do when you can’t build new?


By Murray W. Wolf

What’s a developer or hospital system to do when there’s a need for more outpatient space but capital is unavailable?

That was the question posed to a group of panelists June 26 during the 2009 Medical Office Buildings (MOBs) and Healthcare Facilities Conference. The event, presented by BOMA International, included a series of presentations, panel discussions and other events held at the Philadelphia Marriott Downtown from June 24-26.

The session, introduced by Michael J. Zerman, a partner with Zuber & Taillieu LLP, a Los Angeles law firm, was titled “Not Building New? Strategies for Existing Outpatient Facilities.”

The discussion was moderated by Richard A. “Rick” Ferraro, a healthcare real estate advisor to the Wellspring Partners unit of Huron Consulting Group.

Panelists included:

  • Peter C. Volas, director of real estate for The Cleveland Clinic;
  • Thomas W. “Tommy” Tift III, president and CEO, HealthAmerica Realty Group; and
  • Michael D. Doiel, a senior VP with HDR Architecture.

Mr. Ferraro kicked off the discussion by summarizing current healthcare real estate market conditions.

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