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Publisher’s Letter: Thank you for 10 fun, exciting years

Murray W. Wolf

The past decade was a great experience and we couldn’t have done it without you

Dear Reader:

When we launched Healthcare Real Estate Insights™ in January 2003, we were brimming with entrepreneurial zeal about the prospects for the industry and this publication. The healthcare real estate (HRE) sector seemed primed for exponential growth, yet no other national publication was focusing on HRE development, financing and investment. It was a niche begging to be filled.

Of course, the evil twin of entrepreneurial optimism is nagging uncertainty. What if the HRE market wasn’t large enough to support a publication? What if the market was large enough but not enough people subscribed? What if revenues didn’t ramp up fast enough to cover our growing expenses? During our due diligence for the publication, we encountered plenty of naysayers, one of whom scoffed, “Who’s going to read a publication about healthcare real estate?!” Fortunately, the answer was: You.

You – and thousands of others like you – turned out to be deeply, passionately interested in this business. If anything, we underestimated how hungry you were for HRE news and information. You support enabled us to take our idea and give it substance in the form of a valued monthly publication, a top-notch Editorial Advisory Board, a popular annual directory, a thriving public relations and marketing business, dozens of appearances at industry conferences and, soon, a redesigned and vastly expanded website.

Don’t get me wrong; HREI™ was no overnight success. During those early years, there were countless long days, working weekends and sleepless nights – and sometimes there still are. But as we chronicled the fascinating HRE sector, we were – and continue to be – amazed and touched by the enthusiastic support, kind encouragement and deep loyalty many of you have consistently demonstrated. We have been complimented innumerable times about individual articles and the overall publication. Subscribers regularly tell us they eagerly await each monthly edition and they read it “cover to cover.” When someone subscribes, they almost always renew, year after year after year. One subscriber even recently told me it was a “privilege” to pay for his annual subscription!

We are fiercely proud of what HREI™ has achieved in its first decade. It certainly didn’t hurt that I had the good sense to hire John Mugford to be our editor in March 2004. John’s talent, creativity and journalistic integrity have played a crucial role in our growth and success – and John’s friendly personality and sense of humor are my daily stress-reliever. I also need to thank the many other freelancers, staff writers, designers, printers, marketers and support staff who have contributed over the years. Last but not least, I’d like to thank my wife and children, who have tolerated the long hours, travel and daily roller coaster ride of entrepreneurship.

But, again, none of this would have possible without you, our subscribers and advertisers. As I often say, “We are not HRE experts, but we talk with the experts every day.” Our job is to collect, analyze and synthesize your collective wisdom and repackage it for convenient consumption – and we take that work very seriously. Yes, we had the idea. But you made it work, giving voice to an industry sector that had been largely overlooked. Thank you for making the past 10 years so fulfilling, both personally and professionally. Now let’s get work.

Murray W. Wolf, Publisher

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