InterFace panelists take a ‘30,000 foot’ look at the state of the HRE industry
By John B. Mugford
The InterFace “State of the Industry” panel discussion included (from left to right): moderator Andy Dow of Winstead, James Schmid of Anchor Health Properties, Jake Dinnen of PMB, John Huff of Transwestern and David Braunstein of Rethink Healthcare Real Estate. (HREI™ photo)
Although the healthcare real estate (HRE) industry remains a fruitful, steady place for owners and operators of facilities, there are currently a few mixed signals coming from a wide variety of data points and players in the sector.
For example, even though the U.S. Federal Reserve Bank recently lowered its federal funds target rate, with perhaps additional, small, quarter-point decreases on the horizon, actual “rates haven’t dropped as much as people thought, and now we’re seeing some turmoil in the equity side of things,” said Andy Dow, an attorney and chair of the Real Estate Industry Group and the Healthcare Real Estate Practice with Dallas-based Winstead PC.
“The lenders have gotten back into the game, it seems, but rates have stayed relatively the same,” Mr. Dow added. “Why don’t we talk a little bit about those mixed signals? What’s been your experience with debt and the equity markets over the course of this year, and what do you expect here in the fourth quarter (Q4)?”
Mr. Dow posed this question while moderating a panel at the 16th annual InterFace Healthcare Real Estate Conference, which was held in recent weeks at the Hilton Dallas Lincoln Centre. The event was presented by Atlanta-based France Media’s InterFace Conference Group.
The title of the session was “State of the Industry Report,” with the discussion looking at the sector from an overall standpoint and a “30,000 foot level,” as Mr. Dow noted.
The panelists comprised:
■ David Braunstein, senior VP of investments with White Plains, N.Y.-based Rethink Healthcare Real Estate;
■ Jake Dinnen, executive VP and partner with San Diego-based PMB;
■ John Huff, national managing director of the healthcare platform in the Dallas office of Houston-based Transwestern; and
■ James Schmid, managing partner and chief investment officer with Charlottesville, Va.-based Anchor Health Properties.
In responding to Mr. Dow’s question about the lender market, Mr. Schmid of Anchor said,
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