The dedicated development arm of Remedy Medical Properties was formed in 2017
The development team at Remedy Medical Properties.
CHICAGO and DENVER, May 5, 2025 – The healthcare industry is increasingly turning to an ambulatory network model to meet patient demand, and the development team at Remedy Medical Properties has risen to the challenge. In the past 24 months, the company has secured more than $700 million in ground-up starts. Remedy, together with its partner Kayne Anderson Real Estate, is the country’s largest private owner of healthcare properties, and the company recognizes its development team for this milestone achievement and its continued growth.
“The development team at Remedy is second to none,” said Remedy founder Peter Westmeyer. “For the past decade we have averaged over a billion dollars in acquisitions each year, and we’re thrilled to see new construction become one of our primary drivers of growth. We have made nearly $500 million in new starts this year alone, and in spite of economic volatility, we haven’t had to re-trade terms on a single deal.”
Remedy created a dedicated development arm in 2017. Core leadership of the team came from Duke Realty Healthcare, a well-respected real estate investment trust that specialized in medical properties. The team now numbers 18, with an average of 23-25 years of industry experience.
“That depth of experience makes us stand out in the marketplace — we’re hiring truly some of the best in the industry,” said Jim Moylan, executive vice president and managing director of design and construction with Remedy. “We have brought on very seasoned people who understand the process inside and out, and have organized them by discipline and area of expertise.”
Thoughtfully Structured for Strength and Focus
Centra Langhorne Medical Center, a new 130,000-square-foot medical office building (MOB) near Centra Lynchburg General Hospital, currently under construction by Remedy Medical Properties in Lynchburg, VA.
Remedy’s development team is organized by discipline — land development, pre-construction and design, construction oversight, accounting, etc. — and structured with depth in each role.
“The benefit to our clients is that they’re not getting one or two generalists trying to wrangle a project from beginning to end,” Moylan explained. “We bring in subject matter experts in a very structured, organized manner that aligns the expertise of our team with the phases of the project. The result is a very cohesive development process that is both efficient and means our team isn’t trying to deliver for a client while also juggling multiple RFPs.”
The land development team includes civil engineers, which is a key point of differentiation between Remedy and its competitors, Moylan said. Another differentiator is the division’s dedicated development accounting group, which helps maintain alignment between project costs and the underlying business pro forma as well as ensuring that all project partners are paid in a timely manner.
In addition, before a shovel ever hits the ground, Remedy’s in-house strategic innovation firm, Percival Health Advisors, performs a market analysis to ensure there is demand for the services planned for the facility — and that the building is right-sized for that level of demand.
The result of this potent formula of deft market strategy, careful pre-construction planning, and state-of-the-art design and construction is a portfolio of high-performing properties that have won multiple healthcare real estate awards, including medical office buildings, free-standing emergency departments and ambulatory surgery centers.
Certainty of Execution
Through its internal private equity funds and its close relationship with partner Kayne Anderson Real Estate, Remedy has the capacity to provide a level of certainty of execution to projects that is rare in the industry.
“Most small developers don’t have the level of internal capacity we do, so they have to go to their investor pipeline to see who might be interested in funding a particular deal, then go to their bank to negotiate financing,” said David Martin, executive vice president and managing director of development with Remedy. “That takes time, and results in a level of uncertainty, and you only need to look at the disruption in capital markets over the past 18 months to see how derailing that can be for projects. It’s like a different universe to be able to walk in and say we have 100% of the capital necessary in advance. It has also allowed us to step into projects where other developers have failed to secure financing.”
That financial capacity combines with deep expertise to give Remedy’s development team quiet confidence as they tackle projects. Since the company’s model is long-term ownership, the development process serves to set the tone for the tenant relationship with that client.
Patience, Endurance and Integrity
The three hallmarks that characterize Remedy’s development team are patience, endurance and integrity, Martin said.
“Projects like an ambulatory surgery center don’t allow you to be in a hurry,” he explained. “The more tedious aspects of what we do sometimes requires enormous patience. The permitting and land rights process can take months, for instance. And then endurance becomes a factor when the timeline may be two or three years from proposal to groundbreaking to completion. It’s an ultramarathon mindset.”
Throughout the development process, Remedy’s team acts with integrity to serve and support its clients.
“We’re honest and up front with our clients, doing the right thing and keeping them apprised of what’s going on,” he said. “We need to give our clients the confidence to report up to their board of directors and other critical stakeholders and avoid looking misinformed or uninformed.”
“We’re not a merchant builder who just turns the keys over and walks away, so what we do sets the table for a long-term relationship,” Moylan added. “Our aim is to deliver to our property management group a client that is happy as they enter the building they’ll occupy for the next 10 to 20 years.”
About Remedy Medical Properties
Remedy Medical Properties is a full-service healthcare real estate company and the largest private owner of medical properties in the country, with over 33 million square feet and 25 offices spanning 44 states. For healthcare decision-makers wanting to maximize the value of their real estate while enhancing their ability to adapt, Remedy offers unmatched flexibility and resources in ownership, development, leasing, management, and strategy. Our willingness to commit capital, share more risk, and offer greater foresight increases your resilience, profitability, and peace of mind. For more information visit www.RemedyMed.com.
About Kayne Anderson Real Estate
Kayne Anderson Real Estate is a leading real estate investment firm, managing approximately $17 billion in assets under management across opportunistic equity, core equity, and real estate debt, with sector expertise in medical office, seniors housing, off-campus student housing, multifamily housing, and self-storage. Kayne Anderson Real Estate is part of Kayne Anderson, a $37 billion alternative investment management firm with more than 41 years of successful experience across real estate, infrastructure, energy, and credit. For more information, visit www.kayneanderson.com/real-estate/. (As of January, 2025)
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Contacts:
Remedy Medical Properties: Tracy Hindman, EVP Brand & Marketing, 303-809-6395, thindman@remedymed.com
Kayne Anderson Real Estate: Jon Keehner / Erik Carlson, Joele Frank, Wilkinson Brimmer Katcher, 212-355-4449
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