In the November/December 2019 edition of Real Estate Forum Magazine (RE Forum), the publication recognized HSA PrimeCare in its national list of influencers in Health Care Real Estate. The article acknowledged the firm for growing into one of the largest developers and managers of healthcare facilities in the Midwest with a 2-million-square-foot portfolio throughout eight states. It also highlighted HSA PrimeCare’s recent development, the 40,000-square-foot medical office building on-campus at Silver Cross Hospital, which is scheduled for completion first quarter 2020. The facility will be located on Silver Cross Boulevard just west of the hospital, and it will house the hospital’s urgent care, primary care, and occupational health clinics.
In addition to the team’s Healthcare Influencer recognition, HSA PrimeCare SVP Jon Boley was featured in another article in the publication, entitled Healthcare Real Estate Developers Get Creative. In the feature, Boley addressed the growing investor interest in healthcare properties driven by a rapidly aging population with increased healthcare utilization as well as the overall stability of the sector.
“Healthcare has withstood recessions better than other asset classes,” says Boley. “In the 2008 recession, we found that our portfolio continued to perform. Even in a downturn, healthcare services are required and needed, and doctors will continue to see patients. It is an asset class that has withstood recessions. As a result, this late in the cycle, we see an increase in capital in the space.”
Boley also discussed how HSA PrimeCare has shifted its development strategy to accommodate changing patient and healthcare provider needs. The new Silver Cross Urgent Care Center that the firm is currently developing is a prime example of a project that lessens patient wait times while lowering provider costs by redirecting patients to an outpatient setting.
“The big opportunity now is health system, physician-driven build-to-suit properties,” says Boley. “The Silver Cross property is in an outpatient area of the hospital campus. While there is an emergency room on the campus, there was also a need for a place to appropriately direct patients coming into the emergency rooms but have lower acuity problems, like a fever.”
Congratulations to Jon and the HSA PrimeCare team on this recognition! Click here for the full digital edition of Real Estate Forum Magazine.