Connect Healthcare brought together more than 150 healthcare real estate professionals to the Andaz Resort & Spa in Scottsdale, Ariz., to enjoy a day full of conversations and networking opportunities. Five thought-provoking panel discussions featured some of the nation’s top industry professionals, who shared their experience and insight into the red-hot healthcare real estate market. The discussions ranged from the supply-demand imbalance for healthcare properties and new sources of competitive capital… to technology’s impact on healthcare design and the shortage of memory-care facilities to accommodate the coming “silver tsunami”.
Connect Media will be recapping each panel in a special edition newsletter scheduled to publish November 16. In the meantime, here are some key takeaways from yesterday’s event.
Where We Are & Where We Are Going?
Revista’s Hilda Flower Martin said 2017 is turning into a record-breaking year in terms of acquisition volume.
Cushman & Wakefield’s Lorie Damon pointed out that significant capital is chasing healthcare assets.
Everest Healthcare Properties’ David Lynn noted that occupancy and rental rates in the healthcare segment continue to increase.
Medical Office Brokers’ Michael Morton explained that the cost of new construction makes it difficult for medical office tenants to move.
CBRE’s Bryan Lewitt said Los Angeles is a gateway city where a lot of foreign buyers are investing in healthcare real estate.
Millennials vs Baby Boomers: Two Approaches to Healthcare
Rendina’s Neil Carolan moderated the panel, and asked the experts what makes Millennials and Baby Boomers so different.
Kidder Mathews’ Fletcher Perry pointed out that access to information is vitally important to Millennials.
Dignity Health’s Robin Shepherd said patients today have a “McDonald’s” view of healthcare—what they want, when they want it, and where they want it.
Cushman & Wakefield’s Ryan O’Connor indicated both Millennials and Baby Boomers have impacted the way healthcare providers design their facilities.
Intermountain Health’s Tom Uriona said Millennials and Baby Boomers have more in common than most people think.
Finding & Creating Value: A Focus on Acquisition Activity
Global Medical REIT’s Alfonzo Leon said the competitive demand for medical office properties is forcing him to do “mental yoga” to find a way to make complex deals work.
Nexcore Group’s John Marshall contended that there are only a few portfolios of healthcare property on the market.
Cox, Castle & Nicholson’s David Lari said he’s concerned about the new investors in the sector who may not understand the complexity of healthcare ownership.
Meridian Property Company’s John Pollock discussed the challenges developers face when investing in adaptive reuse projects.
American Healthcare Investors’ Stefan Oh agreed with the other panelists who said that healthcare investing has become much more mainstream.
Design & Technology: The Promise of Wellness
Transwestern’s Daina Pitzenberger expressed dismay at the closing of smaller community hospitals, and hopes telehealth can fill the gap for rural healthcare.
Adventist’s Health Steven Stubbs said his system would be willing to consider more retail locations if there were more opportunities in the markets in which they operate.
HKS’ Jeff Kabat contended that designing facilities to accommodate telehealth isn’t a problem—it’s the infrastructure and telehealth technology itself that poses the challenge.
Hobb+Black Architects’ Betsy Wagner said her firm is working on multi-practice MOBs that have a hospitality feel with coffee bars and lounge seating on the ground floor.
Inception Property Group’s Adam Matar expects the next generation of technology to transform healthcare in a way we haven’t seen before.
Charting a New Course in Senior Housing
Colliers International’s Tim Dulaney moderated the panel, and joined a lively discussion about the importance of operators when it comes to getting financing on new development projects.
Avison Young’s Julie Johnson noted that new entrants to the seniors housing sector typically try to focus on one segment of the population to set their projects apart.
Silverado Senior Housing’s Paul Mullin warned of the coming “silver tsunami” and the lack of affordability for middle-class seniors.
Ankrom Moisan Architects’ Mark Miller believes more developers should look for urban infill locations for seniors housing.
RCS Inc.’s Eric Johnston explained that the socialization factor is one of the reasons why people don’t want to stay at home as they age.