HSA PrimeCare Again Recognized as a Healthcare Influencer by Real Estate Forum Magazine

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.

Jon E. Boley, SVP of Acquisitions & Development

“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.

HSA PrimeCare SVP Jon Boley Shares the Top 3 Ways Medical Office Buildings Are Adapting to Changing Consumer Behaviors in Healthcare Business Today

Froedtert & the Medical College of Wisconsin Drexel Town Square Health Center, Oak Creek, Wisc.

In an article published this week by Healthcare Business Today, HSA PrimeCare SVP of acquisitions and development Jon Boley discusses three ways medical office buildings are adapting to changing consumer habits.

Jon E. Boley, SVP of Acquisitions & Development

The change from fee-for-service to a value-based reimbursement model has driven healthcare providers to bring services closer to their patients. According to Boley, “travel time is three times more important than doctor quality” for Generation X consumers. As a result, healthcare providers are seeking retail locations with flexible layouts and ample parking.

Another trend among healthcare providers is a 360-degree approach to wellness. “[Patients] want to incorporate fitness in a seamless way, and medical providers want to tap into that trend as their industry becomes increasingly consumerized and, as a result, competitive,” Boley explains. For example, HSA PrimeCare’s recent development, the Froedtert & the Medical College of Wisconsin Drexel Town Square Health Center is adjacent to public walking paths for patients and employees to enjoy.

Boley further describes the importance of building flexibility into design. “Going forward, as technological advancements continue and potential policy shifts impact where and how services are delivered, providers must expect — and prepare for — the unexpected,” Boley says. “Doing so will help them maintain their fiscal health while promoting the physical health of their patients.”

To read the full article, visit Healthcare Business Today.

HSA PrimeCare and USAA Real Estate Company Acquire 45,722 SF Medical Office Building in Plymouth, MN

The joint-venture equity fund established by USAA Real Estate and HSA PrimeCare, the national healthcare real estate division of Chicago-based HSA Commercial Real Estate, announced the acquisition of a 45,722 square-foot medical office building in Plymouth, Minnesota. The building is well-situated in the prominent western suburb of Minneapolis, within Plymouth’s City Center, which features abundant community amenities including an ice-skating arena, Lifetime Fitness, a movie theater, and other shopping, restaurants, and public services.

Built in 2014, this class-A medical building is anchored by North Clinic, a large, independent physician group that occupies the full first floor. With five locations and over 80 physicians, North Clinic is a leading primary care and women’s healthcare services provider in the market. Institute for Athletic Medicine, a joint-venture between North Memorial Health and Fairview Hospital, is another premier medical provider in the building. Institute for Athletic Medicine offers orthopedic and sports rehabilitation services.

“This building and location are highly strategic for North Clinic and offer prospective tenants new, high-quality medical office space near the leading primary care provider in the market,” said Jon Boley, senior vice president of Acquisitions and Development at HSA PrimeCare. “We’re looking forward to partnering with local healthcare providers and further expanding HSA PrimeCare’s healthcare real estate services into the Minneapolis market.”

HSA PrimeCare and USAA Real Estate announced the formation of its joint-venture equity fund in 2016, which is positioned to acquire and develop a broad range of healthcare facilities across an 11-state territory in the Midwest.

“Alongside our partner, HSA PrimeCare, we are proud to expand our portfolio in alliance with leading health systems and private practice providers in the region,” commented Len O’Donnell, president and chief executive officer of USAA Real Estate. “This acquisition is another representation of our ongoing strategy to capitalize on emerging opportunities in the healthcare industry.”

HSA PrimeCare will be jointly managing the building with Minneapolis-based, Frauenshuh Commercial Real Estate. Brian Bruggeman and Louis Suarez of Colliers International will be retained for leasing.

David Berglund of Colliers International represented the seller of the Plymouth medical office building in the sale transaction.

About HSA PrimeCare
HSA PrimeCare partners with some of the leading health care institutions in the nation to create development, project management, leasing, monetization, and property management real estate solutions that address the needs of today’s patients while satisfying the financial goals of the health system. A leading developer and manager of medical office buildings in the Midwest, HSA PrimeCare has developed, acquired, or serviced health care properties of more than 2,000,000 square feet. HSA PrimeCare is a division of Chicago-based HSA Commercial Real Estate, a diversified, full-service real estate firm specializing in office, industrial, retail and health care real estate leasing, management, marketing, development and financing on a national basis. For more information, please visit www.hsaprimecare.com.

About USAA Real Estate Company
USAA Real Estate Company, with approximately $18 billion in assets under management, provides co- investment, acquisition, build-to-suit and development services for corporate and institutional investors and arranges commercial mortgage loans on behalf of affiliates. The portfolio consists of office, industrial/logistics, multifamily, retail and hotel properties. USAA Real Estate Company is a subsidiary of USAA, a leading financial services company, serving military families since 1922. For more information, visit www.usrealco.com.