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Feature Story: Where is HRE development heading?

Developers discuss rising prices, dwindling yields and the ‘light at the end of the tunnel’

By John B. Mugford

The InterFace development panel included (clockwise from the upper left): Dan Klein of DOC, Chad Henderson of Catalyst, Jake Dinnen of PMB, Todd Varney of NexCore, David Braunstein of Seavest and John Stubbs of Davis Moore Capital. (HREI photo)

Although medical office building (MOB) development opportunities seem to be strong as health systems nationwide are looking to expand their networks to off-campus locations, there are complications – both pandemic-related and non-pandemic-related — making the business more difficult.

One of those is the skyrocketing costs of constructing medical facilities, according to a panel of healthcare real estate (HRE) development executives who took part in the recent InterFace Conference Group’s 2021 Healthcare Real Estate Conference, held virtually in mid-May.

Interestingly, at the same time some of those complications could force many positive changes in healthcare and the HRE development business as well in the aftermath of the pandemic.

“Since COVID, we have seen

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