HSA PrimeCare SVP Jon Boley Discusses Healthcare Acquisitions with Commercial Property Executive

Jon  E. Boley, SVP

Jon E. Boley, SVP

In a recently published Q&A article in Commercial Property Executive (CPE), HSA PrimeCare SVP of acquisitions and development Jon Boley discusses his criteria for assessing a healthcare real estate acquisition.

“First, we consider the sponsor or anchor tenant of the building,” Boley explains. “A hospital or physician group with a strong market share is the ideal tenant, so if the building already has a strong anchor tenant, that’s certainly a plus. On the other hand, if we’re able to add value to an acquisition by partnering with a healthcare system and bringing them into a building, then we look closely at how the subject location fits within the provider’s existing service platform, including the lead tenant’s other outpatient facilities.”

After elaborating on two additional criteria, Jon responds to CPE questions relevant to HSA’s strategy variations for on-campus vs. off-campus facilities, as well as the future of healthcare real estate in light of the Affordable Care Act.

“The ACA has driven the consolidation of hospitals and physician practices in many markets as providers look to gain economies of scale and greater market share,” Boley reports. “In some cases, this has resulted in duplication of service locations. In the aftermath, hospitals and health systems have taken a step back to evaluate their real estate strategies and are beginning to consolidate locations into larger facilities or move physicians to locations with higher volume.”

Boley was recently featured in HSA’s latest episode of its healthcare real estate informational video series, Ask an Advisor, in which he further discusses the topic of healthcare acquisitions.

Click here to read the full article in Commercial Property Executive.

HSA PrimeCare President John Wilson Discusses HSA’s Focus on the Minneapolis Market with the Minneapolis Star Tribune


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.

EXCLUSIVE VIDEO: Looking Ahead to 2015 with HSA Commercial CEO Bob Smietana

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!