Data firm finds that hospitals and health systems account for 41 of the 50 largest owners of healthcare real estate. Revista also adds new partners Jones Lang LaSalle and Hammes Partners, and new board members.
ANNAPOLIS, Md., Nov. 24, 2014 – Although healthcare real estate investment trusts (REITs) have been aggressively acquiring medical office buildings (MOBs) and other healthcare real estate (HRE) assets during the past few years, they’re not America’s largest owners of medical properties. That honor goes to health systems and hospitals, according to an exclusive new report from HRE data firm Revista.
Revista, which is based in Annapolis, released the new list in conjunction with the announcement that it has added two new corporate partners – Jones Lang LaSalle and Hammes Partners – and two new advisory board members: Mindy Berman and Todd Kibler.
Healthcare providers dominate Revista’s Top 50 list
Revista compiled the Top 50 medical property owners through an exhaustive process and in collaboration with Surface Logic, a facilities performance consulting firm and one of Revista’s corporate partners. It’s one of a number of new reports the firm is preparing on the HRE sector. The firm also provides a comprehensive database of virtually every medical property in the country. The database lists each property’s location, size, owner, health system affiliation and proximity to a hospital.
The Top 50 list and the database focus on acute care and other types of hospitals, MOBs, medical condo buildings, freestanding emergency departments and office buildings with medical tenants, and medical retail. The reports don’t include entities that solely own senior housings properties.
Following are highlights from the Top 50 HRE owners report:
● The top 50 HRE owners in the country own about $280.2 billion worth of property. Of that, 73 percent is owned by 41 health systems while 27 percent is owned by nine REITs.
● The top HRE owners in the country include Kaiser Foundation Hospitals, which is in first place with about $31.7 million in property assets, followed by Health Care REIT with about $22.6 million and Ventas Inc. with about $20.4 million.
● All of the top 16 healthcare property owners are hospitals or health systems, except for the three biggest REITS: Health Care REIT, Ventas and HCP Inc. In addition, the nation’s five largest not-for-profit health systems — Ascension Health, CHE-Trinity Health, Adventist Health System, Kaiser and Dignity Health — are in the top 16 as are the largest for-profits — Hospital Corporation of America, Tenet Healthcare Corp. and Community Health Systems.
● The top 10 entities on the list are composed of five not-for-profit health systems, three REITs and two for-profit systems.
● The top 10 owners hold 53 percent of the assets that are included in the holdings of the top 50.
● The health systems in the Top 50 list grew their property assets, in aggregate, by 9.2 percent from 2012 to 2013. The REITs on the list grew their property assets in that time frame by 15.5 percent.
New Partners, Advisory Board Members Join Revista
Mindy Berman
Todd Kibler
Hammes Partners, which is based in Brookfield, Wis., is a healthcare real estate private equity investment firm. Jones Lang LaSalle, which is headquartered in Chicago, is a professional services and investment management firm offering specialized real estate services to clients seeking increased value by owning, occupying and investing in real estate.
Ms. Berman serves as Managing Director, Capital Markets Group at Jones Lang LaSalle, and Mr. Kibler is Senior Vice President of Finance and Investments with Hammes Partners.
Ms. Berman noted, “Jones Lang LaSalle is pleased to partner with Revista to help lead the development of new healthcare real estate industry reports such as the Top 50 owners report – information that hasn’t been available until now. Healthcare providers and real estate professionals should find this report valuable as it will help them understand who the top owners are and the details of their acquisition and construction activity. We anticipate that other Revista databases and reports, especially those focused on important industry trends and how those trends are changing over the years, will be equally valuable.”
On the Top 50 list, Mr. Kibler said, “Executives in our company, as well as many other companies, have long known that health systems own a majority of the country’s healthcare real estate. But the overall value of the properties owned by just a few systems is eye-opening, and we expect that will continue to grow as more consolidations take place in the industry.”
He added, “At Hammes, we’re proud to partner with Revista and to ensure that a reliable and robust database is available to help providers make better decisions about their healthcare real estate and enhance and grow their organizations.”
Hammes Partners and Jones Lang LaSalle join Revista partners HTA, Health Care REIT Inc., HealthTrust LLC, Raymond James and Surface Logic and its national media partner Healthcare Real Estate Insights™ magazine.
About Revista
Revista serves as a valuable, one-stop source for healthcare and real estate organizations to obtain comprehensive, unbiased and medical real estate industry-focused data; healthcare industry statistics, market reports and other resources; as well as to connect with other professionals in educational networking events.
Revista, which is headquartered in Maryland, was founded by Elisa Infante Freeman, Mike Hargrave and Hilda Flower Martin. They previously held leadership positions with the National Investment Center for the Seniors Housing & Care Industry, whose mission is to advance the quality of senior housing and care through the research, resources and events they provide. These Principals have decades of experience in medical real estate, senior housing and the healthcare industry. They collaborate with an industry-leading advisory board and with founding partners that are major, well-known companies in the healthcare real estate industry.
For more information, please visit www.revistamed.com.
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