Los Angeles, CA – April 4, 2017—CBRE Group, Inc. has announced that its Valuation & Advisory Services (VAS) ‘Seniors Housing & Care’ and ‘Medical Office’ practices will combine to form one cohesive Healthcare Practice Group.
The property types covered by the new Healthcare Practice Group include independent living, assisted living, memory care, nursing care, continuing care retirement community, medical office, surgical centers, out-patient rehab, and hospitals. The group will be led by Zach Bowyer, Tom Baroch, MAI, and Bennett Johnson.
“With an aging demographic profile in the U.S. and evolving healthcare systems, we are now seeing a greater overlap in these sectors from our clients. The combined Healthcare Practice Group will allow us to gain valuable insight into the full spectrum of healthcare services, and reflects CBRE’s ongoing commitment to being a world-class services provider,” said Mike Rowland, MAI, Executive Managing Director, Valuation & Advisory Services, CBRE.
Over the past three years, both groups have achieved a combined 30 percent year-over-year growth in revenues. In 2016, these groups completed valuation or advisory assignments on more than 3,000 seniors housing and medical properties throughout the U.S. with an aggregate valuation of over $50 billion.
“We have a really strong team of experts. It is exciting to reflect on what we have accomplished in such a short amount of time, and knowing the opportunities ahead,” said Chris Sonne, MAI, Executive Vice President and Director of Specialty Practices, VAS, CBRE.
The integrated healthcare services platform is leveraged by the vast resources of CBRE. This includes a network of more than 725 appraisers and consultants, with local market presence in more than 98 major metro markets, along with access to the most advanced information systems and analytical tools in the real estate industry.
CBRE’s Valuation & Advisory Services assists a broad base of local, regional and global clients, including corporations, commercial banks, financial institutions, investors, property owners, REITs and government agencies. Services include appraisal, property condition, market studies, feasibilities, underwriting due-diligence, environmental, zoning and telecommunication consulting.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2016 revenue). The company has more than 75,000 employees (excluding affiliates), and serves real estate investors and occupiers through approximately 450 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.
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