For third-party firms, relationships are the key to winning business, they say
By John B. Mugford
There is certainly plenty of speculation in healthcare real estate (HRE) about whether health systems will – as we come out of the COVID-19 pandemic – be more open to tapping into third-party firms to own and manage the medical office buildings (MOBs) they occupy.
Instead of having to speculate, however, David Park, principal of Charlotte, N.C.-based DG Consulting LLC and a former real estate executive with Winston-Salem, N.C.-based Novant Health, recently asked four health system executives the question himself.
Their answers, as has been the case for years, varied, with many factors coming into play. Mr. Park was the moderator of InterFace Conference Group’s recent Healthcare Real Estate Conference, held virtually May 12-13, 2021. The panel session was titled, “What’s the Outlook for Hospital & Healthcare System Real Estate Coming Out of COVID?”
Peter Volas, senior director of real estate with Cleveland Clinic, which operates 38.5 million square feet of space, said that although the 18-hospital system owns about 78 percent of its portfolio and prefers to own its on-campus MOBs, “I really think
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