News Release: Revista Report Finds $86.7 Billion of Medical Real Estate Construction in the Pipeline as National Conference Nears

	Keith Konkoli of Duke Realty (left) and Steven Stubbs of Adventist Health have joined the Revista advisory board. Please click on the images to be linked to high-resolution versions.

ANNAPOLIS, Md., Sept. 30, 2015 – Revista, a research, data and events company specializing in medical real estate, announces the addition of a new partner and two new advisory board members, as well as the release of its first comprehensive national construction report.
$86.7 billion of construction in the pipeline 

The first-ever Revista Mid-Year 2015 Construction Report identified $86.7 billion of medical real estate construction in the pipeline, which includes 1,189 projects totaling 123.1 million square feet that are in late planning or are under construction, and which have a construction value of at least $5 million. The total includes 542 medical office buildings (MOBs) totaling 38.7 million square feet with a value of $18.3 billion and 647 hospital projects totaling 84.4 million square feet with a value of $68.3 billion.

“It is clear from the data that the healthcare real estate construction pipeline is very robust,” says Mike Hargrave, Revista Principal. “We see many projects undertaken by hospitals and health systems in reaction to healthcare reform and in-place healthcare trends. Many projects sponsored by hospitals or systems involve the construction of medical office buildings out in the surrounding community.”

The MOB projects in the pipeline had a median size of 45,000 square feet and a median value of $14 million. The medians for the hospital projects were 50,000 square feet and $37.5 million.

Although 50,000 square feet might seem small for a hospital project, Mr. Hargrave explains that the data includes expansion projects, not just new and replacement hospitals. Some of the expansion programs uncovered by Revista include enlarged emergency departments, additional operating rooms and other specialized construction projects.

The Revista Mid-Year 2015 Construction Report can help owners, developers, construction companies and others with an interest in healthcare real estate construction to better understand trends and statistics that impact their business, Mr. Hargrave says. Some other highlights from the report include:
● There are 16.7 million square feet of medical office space and 28.1 million square feet of hospital space scheduled to complete in 2015.  In all, more than $25 billion of construction value is scheduled to complete for both hospitals and medical office buildings.
● For hospitals, the vast majority of construction projects are related to expansions of existing campuses.  On a total pipeline basis, there are 493 expansion projects in the U.S. with the median project being valued at $25 million and containing 32,000 square feet.
● Revista identified 105 new hospital projects comprising 25.9 million square feet and $18.2 billion in value.
● Of the 542 medical office construction projects under construction, 398 were considered off the campus of a hospital.

“Of course, the aggregate data only scratches the surface of what is in the report,” Mr. Hargrave emphasizes. “The data has been gathered at the property level. For every project, we know the type of project, location, square footage, value, construction start date and projected open date. We also know whether projects are on- or off-campus and whether there is a hospital affiliation and, if so, with whom.

“This exceptionally rich data allows us to generate exclusive, customized reports providing unmatched insights into construction activity for specific product types; regions, states and local markets; and more. We look forward to future iterations of this report to see how the medical real estate construction landscape changes.”

The full Revista Mid-Year 2015 Medical Real Estate Construction Report is available by visiting www.RevistaMed.com/Pages/National-Transactions-Report.
Duke Realty joins as partner; two new advisory board members 

Revista, which is gearing up to host its second annual national conference Oct. 13-14, reports that Duke Realty  has signed on as partner, with Keith Konkoli as its representative to the Annapolis-based firm’s advisory board. Mr. Konkoli serves as Executive Vice President, Healthcare at Duke Realty.  In addition, Steven Stubbs of Adventist Health has joined the Revista advisory board. Mr. Stubbs is Regional Director of Mergers and Acquisitions with Adventist Health.

“Duke Realty and I are excited to join Revista’s efforts to help lead and inform our industry with key data and metrics like this first-time medical real estate construction report,” Mr. Konkoli noted. “The value that Revista’s data brings to healthcare owners, providers, developers and real estate professionals is unparalleled, especially at this exciting time in healthcare real estate development and acquisition.”

“As an executive with responsibility for mergers and acquisitions for a large health system, I rely on the important data that Revista provides to stay in the know on healthcare real estate trends and dynamics,” Mr. Stubbs adds. “I am very excited to become more involved as a board member of this important organization.”

Duke Realty joins Revista partners Healthcare Trust of America, Hammes Partners, Health Care REIT, Harrison Street Real Estate Capital, HealthTrust, JLL and Zeustra, and its national media partner Healthcare Real Estate Insights™ magazine.
There is still time to register for the Revista Medical Real Estate Investment Forum 

To get a firsthand look at the data captured in the Mid-Year 2015 Medical Real Estate Construction Report and much more, healthcare and real estate professionals are invited to attend Revista’s 2015 Medical Real Estate Investment Conference, scheduled for Oct. 13-14 at the Omni Interlocken Resort and Golf Club in Broomfield, Colo., near Boulder. Revista will dive deep into its healthcare database, content and expert contacts to deliver insightful dialogue and “Data Briefs” to attendees at every session.

Registrations are still being accepted. For more information, please visit http://www.RevistaMed.com/Events/National-Forum.
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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Revista
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P: (443) 949-8794 ● mail@revistamed.com ● RevistaMed.com