In a newly published article in the Minneapolis StarTribune, HSA PrimeCare President John Wilson discusses the Minneapolis market as a desirable area for future healthcare real estate investment and development in consideration with the drivers of change within the healthcare industry as a whole.
“The Twin Cities market has between 6 million and 7 million square feet of medical offices, split up roughly 50-50 between hospital on-campus and off-campus settings,” Wilson reports. “With the advancement of technology, the growth is in outpatient procedures, and so in the last few years we’ve been working with providers in helping them with their outpatient real estate strategies.”
HSA PrimeCare recently announced the formation of a joint venture with USAA Real Estate Company that will accelerate the growth of HSA’s healthcare acquisition and development program. With plans to expand throughout an 11 state region, Wilson claims the Twin Cities market provides the kind of stability being sought out by healthcare real estate investors.
“What we’re planning to do is meet with the major providers in the Twin Cities area, and really become not only a capital partner but a strategic partner with them,” Wilson added. “We’ve been in this space over 20 years now and understand that with medical real estate, it’s all about the delivery of care.”
Click here to read the full article in the Minneapolis StarTribune.
After a very busy 2014 in which HSA Commercial Real Estate advanced or completed numerous projects, HSA’s CEO Bob Smietana shares his expectations for the firm in 2015 in an interview video featured on YouTube.
After completing a few industrial spec projects last year, Bob says that he anticipates the firm breaking ground on as many as three to four new developments this year in strategic markets like Nashville, Indianapolis, and southeast Wisconsin where industrial demand remains strong. In retail, the team at HSA will seek to build on the success of the grand opening of Phase 1 of The Mayfair Collection through the Whole Foods-anchored second phase and the launch of the project’s residential component. As for HSA PrimeCare, which just completed development of the Silver Cross business center late last year, the group will continue to be active with new outpatient development projects throughout the Midwest.
For insight on what to expect from HSA in 2015, please watch the full interview with our CEO Bob Smietana!
On Thursday, March 27th, John Wilson, president of HSA PrimeCare, moderated the Urban Land Institute (ULI) panel discussion on Healthcare Real Estate. Panelists included Marco Capicchioni, vice president of facilities planning, design, and construction at the University of Chicago Medicine; Adam Lynch, senior director at Metropolitan Chicago Healthcare Council; and Gina Weldy, vice president of real estate at Northwestern Memorial Healthcare. The panelists discussed changes in the delivery of health care due to demographic shifts, regulatory legislation, economic pressures, and technological advancements, and how these changes will impact the real estate decisions of medical providers.
Following the event, John Wilson commented on the main forces influencing change in health care today in the video clip above:
As far as the number one influence of force effecting health care today, there are probably several to pick from, but there’s certainly technology advancement, demographics, regulation with the healthcare law, Obama Care, and the Affordable Care Act. Of the three, I think you know, when you get back to it, the demographics are probably the major driver with the silver tsunami if you will – the aging population. We have upwards of ten thousand baby-boomers a day turning 65.