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News Release: NexCore Led the Nation in 2019 Outpatient Medical Real Estate Projects Completed


National healthcare real estate (HRE) developer earned the top spot in the Revista Outpatient HRE Development Report “Projects Completed” category with seven projects totaling 403,652 square feet

Some of NexCore’s largest completed developments of 2019 were four  micro-hospital projects for Oklahoma City-based INTEGRIS Health and Emerus (top),  and a three-building outpatient campus for Summit Healthcare Regional Medical Center in Show Low, Ariz. (bottom).

DENVER, April 15, 2020 – NexCore Group, a national healthcare real estate (HRE) developer, completed construction of more outpatient medical space than any other developer in 2019.

That’s according to the 2020 Outpatient Healthcare Real Estate Development Report from the Arnold, Md.-based HRE research firm Revista.

On the basis of total square footage, NexCore Group earned the top spot in the “Projects Completed” category with seven projects totaling 403,652 square feet. The Denver-based developer also ranked third overall in HRE “Projects Started or Completed” for 2019, with 12 projects totaling 676,896 square feet. Finally, NexCore placed sixth in HRE “Projects Started” for 2019, with five projects totaling 273,244 feet.

Todd Varney, NexCore’s Chief Development Officer and Managing Partner, says the firm is “thrilled” to be once again recognized by Revista for its national leadership in outpatient HRE development.

“NexCore had another outstanding year as we continued our mission to collaborate with our healthcare partners to provide the creative and innovative facilities they need to meet today’s industry challenges,” Mr. Varney says.

“At NexCore, we see tremendous growth in the ambulatory needs of hospitals today. We work closely with our provider partners to provide a strategy-first approach to each market, and we have a proprietary process to select sites and regions for each ambulatory strategy, which results in better patient care in the proper environment.”

He adds, “We are indeed honored to be recognized once again in this important national report for our hard work, and we congratulate the clients and partners who are working right alongside us to develop these quality facilities.”

Building on the firm’s impressive 2019 performance, Mr. Varney says he anticipates another strong year in 2020, despite the COVID-19 crisis.

“NexCore has a healthy pipeline of new developments under contract, along with a number of new opportunities being pursued,” he says. “At this time all of our projects are moving forward as planned and we have strong financial relationships that allow us to move forward, even as many capital providers in the industry may be pulling back.”

About the Revista Outpatient HRE Development Report

The Outpatient HRE Development Report, compiled by Revista ranks the top-rated outpatient medical facility developers from the previous year. Healthcare Real Estate Insights (HREI) magazine collaborated with Revista to develop the initial questionnaire in 2016 and continues to assist in the promotion of the report.

The 2020 survey measured medical office and other outpatient developments that were started or completed in 2019. Revista collected data on all U.S. outpatient HRE development projects started or completed in 2019 that exceeded $2.5 million in value and that included at least 5,000 square feet of new or renovated space. Data was gathered on the basis of 25 voluntary surveys completed by developers, as well data collected on another 140 companies – all of which was then independently verified by Revista.

HREI is featuring highlights from the 2020 Revista Outpatient Healthcare Real Estate Development Report on its website, HREInsights.com, as well as the March/April edition of the HREI print magazine. The full outpatient medical real estate report is available exclusively to Revista subscribers. Please contact Mike Hargrave at 443-949-8794 or mike@revistamed.com for more information or to subscribe.

About NexCore Group LLC

NexCore Group develops healthcare facilities for hospitals, health systems and physicians. NexCore solves complex real estate challenges through innovative building solutions and creative financial structures. In a rapidly changing healthcare industry, NexCore has the superior expertise to deliver quality environments and flexible spaces that help grow your business, lower expenses and mitigate risk. Over the past 25 years, NexCore has developed and acquired a total of 11.1 million square feet of health care facilities across the country. The company has been recognized repeatedly as one of the Top Healthcare Real Estate Developers in the U.S. by Modern Healthcare magazine. NexCore is headquartered in Denver, and as the company continues to grow so does its geographic reach. Over the last several years, NexCore has opened regional offices in Chicago; Bethesda, Md.; Portland, Ore.; Dallas; Orlando, Fla.; Laguna Niguel, Calif.; and Indianapolis. For more information, please visit www.nexcoregroup.com. Contact: Kirstin Barbour, Marketing Director, 303-293-0693.

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Media Contact: Kirstin Barbour, NexCore Group • 303.293.0693 • Kirstin.Barbour@NexCoreGroup.com

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