2014 Press Releases
\\ Lillibridge and Ventas playing major roles at 2014 BOMA MOB Conferene
In addition to serving as a Diamond Sponsor, the leading national healthcare real estate firms are sponsoring the popular Roundtable Discussions, and have three expert speakers and panelists on the agenda
CHICAGO and NASHVILLE, Tenn., April 30, 2014 - Lillibridge Healthcare Services Inc., the largest owner and manager of medical office buildings (MOBs) in the United States and a wholly owned subsidiary of Ventas Inc., will play its biggest role ever at this year's Building Owners and Managers Association (BOMA) International Medical Office Buildings and Healthcare Facilities Conference. The conference will be held April 30 to May 2 in Nashville.
Lillibridge will serve as a Diamond Sponsor of the popular annual MOB conference and sponsor six special interest Roundtable Discussions. In addition, three Lillibridge and Ventas executives will serve as speakers and panelists for the Roundtables, as well as another Educational Session.
"Educational, networking conferences such as BOMA are more important than ever in this rapidly changing, challenging healthcare environment," says Todd W. Lillibridge, President and Chief Executive Officer for Lillibridge and Executive Vice President, Medical Properties for Ventas. "The BOMA MOB conference is a perfect forum for real estate and healthcare executives to collaborate and share ideas that will help them and their companies succeed and thrive, now and in the future."
"We've sponsored BOMA's Medical Office Buildings and Healthcare Facilities Conference for five years in a row because we believe this event is very important to our industry," added Vincent M. Cozzi, Senior Vice President for Ventas Inc. "This year, we're proud to serve as a Diamond Sponsor as well as sponsor all of the Roundtable Discussions, which will provide a wealth of inspiration, ideas and strategies for attendees. We expect this year's Roundtables will be extremely popular."
Lillibridge is sponsoring all six of the Roundtables this year. Roundtables were first held at last year's BOMA conference and proved to be so popular that they were brought back for 2014.
The Roundtables are special interest sessions facilitated by subject matter experts that feature interactive discussions in a relaxed setting with colleagues who have similar interests. Attendees should bring questions and viewpoints to share, and be prepared to leave with valuable ideas and strategies they can begin implanting immediately. Seating is limited so attendees are encouraged to arrive early.
The Roundtables include:
"Medical Specialty Trends: Adapting for Success" will be held May 1 from 9:45 to 11 a.m. It will feature speakers Margie McHugh, Senior Vice President of Advisory Services with Lillibridge Healthcare Services, and Andrew Saba, Director, Leasing & Marketing with PMB Real Estate Services LLC. This session will review how owners and developers are adapting spaces to suit medical specialties.
"Leveraging LinkedIn v2.0: Strategies to Build Your Personal and Business Brand" will be presented May 1 from 9:45 to 11 a.m. Speakers will include Mark Johnson CPM, Director, Property Management-Healthcare Facilities at Cushman & Wakefield, and Travis Ives, Associate Director at Cushman & Wakefield. The panelists and attendees will explore ways to use LinkedIn's platform and features to highlight their professional profile and stature, extend their network of professional relationships and enhance their business development strategies.
"Health and Wellness, Aisle 2! Consumer-Driven Demand for Convenient Care" will be held May 1 from 11:30 a.m. to 12:45 p.m. Attendees will learn about the rapid expansion of retail urgent care settings that are driving consumer demand and offering innovation as well presenting new challenges. The speakers will include Michael Lincoln, Executive Vice President, Business Development with Lillibridge Healthcare Services, and Samuel Totos, Healthcare Real Estate Manager with Walgreen Co.
"Getting to ‘Yes' with Less Stress" will be held May 1 from 11:30 a.m. to 12:45 p.m. and feature Jack Price, Principal with Cushman & Wakefield/The Boerke Company. This session will explore negotiation best practices.
"The Content Conversation" will be presented May 2, 9:30 to 10:45 a.m., by Amy Byrd CCIM CPM, Vice President of Healthcare Realty Trust. Attendees will explore how to manage difficult people and situations by refocusing the content of a conversation to achieve desired results.
"Better Than the Airport Bookstore" will be held May 2 from 9:30 to 10:45 a.m. Speaker Julie Wilson, Senior Vice President, Leasing and Management with Healthcare Realty Trust, and attendees will explore what you should be reading, listening to and doing to compete in today's marketplace.
In addition, Vincent M. Cozzi, Senior Vice President for Ventas, will serve as a panelist for an educational session "Hospital Monetization" on May 1 from 11:30 a.m. to 12:45 p.m. He will be joined by panelists David Johnson, Managing Director and Sector Head with BMO Capital Markets; Tony Helton, Administrator, Division of Finance with Cleveland Clinic; and moderator Peter Volas, Senior Director of Real Estate with Cleveland Clinic.
The 2014 BOMA MOB conference, the healthcare real estate sector's largest and most respected conference, will be held at the Omni Nashville Hotel in Nashville. Full program details, including a complete speaker list and registration information, are available at www.boma.org/MOB.
About Lillibridge and Ventas
Lillibridge has been a leader in the healthcare real estate industry for nearly three decades. The company provides management and leasing, facility development and advisory services to highly rated hospitals and health systems throughout the United States. Lillibridge's portfolio spans 400+ owned and managed MOBs totaling nearly 22 million square feet across 29 states, 163 cities and 212 markets. Lillibridge is a wholly owned subsidiary of Ventas Inc., an S&P 500 company and a leading real estate investment trust. Its diverse portfolio of nearly 1,500 assets in the United States, Canada and the United Kingdom consists of seniors housing communities, medical office buildings, skilled nursing facilities and hospitals. More information about Ventas and Lillibridge can be found at www.ventasreit.com and www.lillibridge.com.
2013 Press Releases
\\ Lillibridge Acquires Advocate MOBs - 409,000 SF Added to MOB Portfolio, Strengthening Advocate Relationship
CHICAGO August 19, 2013 - Lillibridge Healthcare Services, Inc. (Lillibridge), the nation's largest owner and manager of medical office buildings (MOBs) and a wholly owned subsidiary of Ventas, Inc. (NYSE: VTR), has acquired a 409,000 square foot MOB portfolio located on the campuses of five Advocate Health Care hospitals in the Chicago area.
Seven MOBs are included in the transaction, more than doubling the amount of Advocate-affiliated medical office spaced owned and managed by Lillibridge to 790,000 square feet.
The properties are on the campuses of: Advocate Good Samaritan Hospital, Downers Grove; Advocate Good Shepherd Hospital, Barrington; Advocate Christ Medical Center, Oak Lawn; Advocate South Suburban Hospital, Hazel Crest; and Advocate Trinity Hospital, Chicago.
Chicago-based Lillibridge now owns and manages 19 buildings totaling 790,000 square feet on six Advocate campuses, as well as several affiliated sites.
"We have developed a strong relationship with Advocate, and an understanding of their mission and values, after many years of collaborating with them on several projects within their system, hospitals and the Advocate Medical Group," said Todd W. Lillibridge, President and CEO of Lillibridge Healthcare Services and Executive Vice President (EVP) Medical Property Operations of Ventas. "This MOB portfolio acquisition is another important step toward achieving our mutual goal of implementing and supporting today's outpatient-focused healthcare delivery models."
Advocate Health Care is recognized as one of the nation's top 10 health systems, and it is the largest integrated health system with the most extensive physician network in Illinois.
"This acquisition of high-quality medical office buildings supports our strategy of owning and managing healthcare assets affiliated with market-leading hospitals and health systems," added Vincent M. Cozzi, Senior Vice President, Ventas.
Since 2010 Lillibridge's parent company, Ventas, has invested $14 billion in healthcare and seniors housing assets, including 280 medical office and outpatient facilities.
\\ BOMA's 2013 Medical Office Buildings and Healthcare Facilities Conference, Presented by Lillibridge, Will Break All Attendance Records
(WASHINGTON, DC April 26, 2013) The Building Owners and Managers Association (BOMA) International announced today that its 2013 Medical Office Buildings and Healthcare Facilities Conference, presented by Lillibridge Healthcare Services, Inc., the largest owner and manager of MOBs in the US and a wholly owned subsidiary of Ventas, Inc., is already set to beat all attendance numbers from years past. BOMA's event takes place May 1-3, 2013 in San Francisco, CA and will bring together more than 750 of the industry's brightest professionals from all facets of the healthcare real estate sector.
This year's conference will feature a high-powered line-up of speakers (90+) presenting in four General Sessions and four tracks of programming: Provider Strategies, Capital Markets, Leasing and Management, and Compliance and Regulatory. The conference will also feature three provocative Keynote Speakers:
- Dr. Marty Makary will kick-off the conference at the Opening Plenary Session on Wednesday where he'll discuss the troubling issues raised in his best-selling book, Unaccountable: What Hospitals Won't Tell You
and How Transparency Can Revolutionize Healthcare.
- At the Keynote Luncheon on Thursday, Connie R. Curran, EdD, RN, FAAN, will share her insights on hospital safety and quality in an era of reform.
- The conference will end with a bang on Friday with healthcare futurist and innovation thought leader Nicholas Webb, who knows that disruptive market changes require completely new strategies. He'll paint a clear vision of the future - a vision that includes some earth-shattering insights.
New to the conference this year are Facilitated Roundtable Discussions, which will bring speakers and attendees together in an intimate setting, designed to encourage an exchange of ideas and problem solving. The Roundtable Discussions will allow for 15 to 20 attendees to engage in lively, candid discussions with subject matter experts on the latest in leadership and technology.
"From beginning to end, this conference promises to offer unique and innovative lessons for leaders from the most progressive healthcare and real estate organizations," said Todd W. Lillibridge, President and Chief Executive Officer for Lillibridge and Executive Vice President, Medical Properties for Ventas. "We're particularly excited to have Nicholas Webb as the closing speaker. We're encouraging everyone to stick around for what promises to be a thought-provoking, inspiring presentation."
"We've sponsored BOMA's Medical Office Buildings and Healthcare Facilities Conference for four years in a row, because we believe this event is critical to our industry," added Vincent M. Cozzi, Senior Vice President for Ventas, Inc. "It's a forum that brings together visionaries to share ideas that are shaping the way healthcare is delivered."
"This Conference brings together a blend of healthcare providers and healthcare real estate professionals, creating an outstanding mix of the best minds in the field together. In this watershed year closing in on the implementation of the Accountable Care Act on January 1, 2014, the impact is still unknown. These issues will be thoroughly discussed and examined during the Conference," said Neil Carolan, President of Healthcare Real Estate Consulting, LLC and Co-chair of the BOMA International Medical Office and Healthcare Facilities Committee and Conference and the first healthcare executive to hold an appointed office within BOMA International.
Healthcare real estate's largest and most respected conference will take place this year at the Westin St. Francis in San Francisco May 1-3. Full program details, including a complete speaker list and registration information, are available at www.boma.org/MOB.
About BOMA International
The Building Owners and Managers Association (BOMA) International is a federation of 93 BOMA U.S. associations, BOMA Canada and its 11 regional associations and 13 BOMA international affiliates. Founded in 1907, BOMA represents the owners and managers of all commercial property types including nearly 10 billion square feet of U.S. office space that supports 3.7 million jobs and contributes $205 billion to the U.S. GDP. Its mission is to advance the interests of the entire commercial real estate industry through advocacy, education, research, standards and information. Learn more about BOMA at www.boma.org.
2012 Press Releases
\\ LILLIBRIDGE HEALTHCARE SERVICES NAMES CHARLES W. WAGENER
EXECUTIVE VICE PRESIDENT, PROPERTY MANAGEMENT AND LEASING
Ventas Medical Office Building Subsidiary Largest in Nation
CHICAGO August 6, 2012 - Lillibridge Healthcare Services, Inc. ("Lillibridge" or LHS), a wholly owned subsidiary of Ventas, Inc. (NYSE: VTR) ("Ventas" or the "Company") with an extensive healthcare real estate portfolio spanning 29 states, 168 cities, 164 markets and 408 medical office buildings (MOBs) across 21 million square feet, announced today that it has named Charles W. Wagener executive vice president of property management and leasing, effective immediately. He will report to the president and CEO of Lillibridge.
"We are pleased to have Chuck join Lillibridge, where he will be responsible for all aspects of property management and leasing for our Lillibridge-managed portfolio," said LHS President and Chief Executive Officer Todd W. Lillibridge, who is also an executive vice president of Ventas. "Combining Lillibridge's decades of experience serving leading hospitals and healthcare systems with Chuck's 25 years of success operating commercial real estate at leading national firms should continue to elevate our thriving business. Chuck has a proven track record of success driving performance and leading people, which makes him uniquely qualified to head our property management [and leasing] team. He will play a central role in the operation of this growing and productive asset class, a central element of Ventas's highly successful strategy."
Wagener, 54, joined Ventas from Metropolis Investment Holdings Inc., a German-based company, where he had been a senior vice president responsible for leasing and managing the performance of its portfolio that includes 6 million square feet. Previously, he was vice president of operations for the Chicago region of Equity Office Properties Trust (EOP), which included oversight of 55 properties consisting of more than 20 million square feet located in seven states. Earlier in his career he was a senior property manager with Hines Interests Limited Partnership and held several positions with the John Buck Co. He has been a member of the board for the Building Owners and Managers Association (BOMA) since 1999, serving as the organization's president from 2007-2008. Wagener received his Bachelor of Business Administration from the University of Wisconsin, Madison, his JD from Marquette University Law School in Milwaukee, and his MS in Real Estate Appraisal and Investment Analysis from the University of Wisconsin, Madison.
\\ LILLIBRIDGE MOB WINS BOMA RECOGNITION
DENVER MEDICAL FACILITY RECOGNIZED FOR AMENITIES, MANAGEMENT
CHICAGO and DENVER April 25, 2012 - The Building Owners and Managers Association (BOMA) has named 3455 Medical Pavilion, at 3455 Lutheran Parkway in the Denver suburb of Wheat Ridge, Colo., a Midwest Northern Region winner in its prestigious The Outstanding Building of the Year (TOBY) program.
The 62,040 square foot, two-story medical office building (MOB) was developed by Lillibridge Healthcare Services Inc. and has been managed by Lillibridge since it opened in 2005.
"It's an honor for Lillibridge to earn another TOBY award," says Lillibridge President & CEO Todd W. Lillibridge. "We're extremely proud to be recognized for this well maintained and managed facility, the superior amenities we provide tenants and for our community impact, including charitable activities. This TOBY award is a testament to the expertise of Chuck Fendrich, EVP of Property Management and Leasing; Tony DiGanci, General Manager; and our entire property management team."
The outpatient MOB, which is located on the campus of the Exempla Lutheran Medical Center, houses an ambulatory surgery center, pediatric urgent care, a breast cancer center, general surgeon practices, orthopedic services, a plastic and reconstructive surgery practice, and medical imaging.
MOB amenities include a healing garden with continuously running fountain, a pedestrian bridge to an adjacent MOB, on-site management staff, ample surface parking and reserved physician parking. The facility is centrally located with easy access to Interstates 76 and 25.
The 3455 Medical Pavilion won the Denver Metro TOBY late last year, qualifying it to compete in the Midwest Northern Region program. All regional winners will now proceed to the final, international level of competition. All regional winners will be honored and international winners announced live at the TOBY banquet on June 26 during the BOMA International Every Building Show and EXPO in Seattle.
Lillibridge has been privileged to earn 17 TOBY awards over the years, including two international TOBYs. The Lillibridge buildings that have been recognized are -
- Desert Medical Pavilion, Banner Desert Medical Center, Mesa AZ (Local 2009, Regional 2010)
- Celebration Health Medical Plaza, Florida Hospital Celebration Health, Celebration FL (Local 2009, Regional 2009, Local 2010)
- 3455 Medical Pavilion, Exempla Lutheran Medical Center, Wheat Ridge CO (Local 2011, Regional 2012)
- Northwestern Memorial Hospital, Chicago IL (Local 2004, Regional 2005, International 2006)
- Doctor's Center at Saint Joseph's Hospital, Saint Joseph's Hospital of Atlanta, Atlanta GA (Local 2009, Local 2011)
- Medical Park Tower, Seton Medical Center, Austin, TX (Local 2007, Local 2010)
- Northwest Health Plaza, Seton Northwest Hospital, Austin TX (Local 2008, Regional 2008, International 2008)
Created in 1985, the TOBY Award is regarded as the most noteworthy and comprehensive evaluation program in the commercial real estate industry. The TOBY program recognizes excellence in building management and operations in several categories based on building size and type. The buildings are thoroughly evaluated during the judging process on all facets of a building's operations, including tenant relations, commitment to environmental sustainability, emergency preparedness, budgeting, work order systems, security standards, staff experience and continuing education.
Lillibridge also recently attained BOMA 360 certification for its Desert Medical Pavilion MOB in the Phoenix suburb of Mesa. That separate program benchmarks a building's performance against industry standards in the areas of building operations and management; life safety / security / risk management; training and education; energy; environment/sustainability; and tenant relations / community involvement.
About BOMA International
The Building Owners and Managers Association (BOMA) International is an international federation of more than 100 local associations and affiliated organizations. Founded in 1907, its 16,500-plus members own or manage more than 9 billion square feet of commercial properties. BOMA International's mission is to enhance the human, intellectual and physical assets of the commercial real estate industry through advocacy, education, research, standards and information. On the Web at http://www.boma.org/
\\ LILLIBRIDGE, VENTAS EXECS TO SPEAK AT BOMA
EXPERTS TO SHARE INSIGHTS ON HEALTHCARE REAL ESTATE M&A
CHICAGO April 18, 2012 - Executives from Lillibridge Healthcare Services Inc. and its parent company Ventas, Inc. (NYSE: VTR) will share their insights next month about the rapid consolidation in the healthcare real estate industry. They are scheduled to speak during the Building Owners and Managers Association (BOMA) International 2012 Medical Office Buildings (MOBs) and Healthcare Facilities Conference, May 2-4 in Atlanta.
The featured healthcare real estate experts will include: Raymond J. Lewis, President of Ventas; Todd W. Lillibridge, President and CEO of Lillibridge and EVP Medical Properties of Ventas; and Vincent M. Cozzi, EVP and Chief Investment Officer of Lillibridge. The panel discussion, titled "Perfecting the Blend," will be moderated by Matthew S. Johnson, managing director, Morgan Stanley.
"Consolidation is happening among hospitals, health systems and physician groups, and also among the real estate firms that serve them," Mr. Lillibridge says. "Together with Ray, Vince and Matt, I look forward to sharing some insights into the strategy and execution of our recent acquisitions - how we have grown profitably, positioned ourselves to serve clients better, and integrated our people, cultures and best practices."
The panelists will share lessons learned from the past 24 months in which Ventas and Lillibridge executed on more than $12 billion of healthcare real estate transactions, including the recent acquisition of Cogdell Spencer Inc.
The panel is scheduled for 9:30 to 10:30 a.m. Friday, May 4 and will discuss:
- Identifying the right mix of assets: Growing a diversified portfolio to reduce risk and provide stable returns;
- Perfecting the blend: The complex and ongoing process of integrating platforms, cultures and people to best serve healthcare clients and achieve corporate goals of profitability and financial strength; and
- Growing the brand: Improving quality while continuing to successfully pursue internal and external growth opportunities.
More information on the panel can be found at www.boma.org/trainingandeducation/medicalofficebuildings
\\ LILLIBRIDGE HEALTHCARE SERVICES, A VENTAS COMPANY,
TAKES ON HIGH-PROFILE ROLE FOR BOMA'S 2012
MEDICAL OFFICE BUILDINGS AND HEALTHCARE FACILITIES CONFERENCE
WASHINGTON DC April 10, 2012 - The Building Owners and Managers Association (BOMA) International announced today that Lillibridge Healthcare Services, Inc. ("Lillibridge"), a Ventas, Inc. company (NYSE:VTR), is the Presenting Sponsor of its 2012 Medical Office Buildings and Healthcare Facilities Conference (click to learn more). BOMA's event takes place May 2-4, 2012 in Atlanta, Georgia.
"We are proud to sponsor BOMA's 2012 Medical Office Buildings and Healthcare Facilities Conference because it is the most important annual gathering of visionaries from the most progressive healthcare and real estate organizations," said Todd W. Lillibridge, President and Chief Executive Officer for Lillibridge and Executive Vice President, Medical Properties for Ventas. "We are pleased to support and be an integral part of this high-level forum focused on innovative strategies to fulfill changing healthcare missions," added Vincent M. Cozzi, Senior Vice President, Medical Property Operations for Ventas, Inc., and Executive Vice President and Chief Investment Officer for Lillibridge Healthcare Services.
Drew Cressman, conference co-chair and Vice President, Asset Management, HCP, Inc. said, "Lillibridge's participation as the Presenting Sponsor of BOMA's Medical Office Buildings and Healthcare Facilities Conference for three straight years underscores the event's importance to key players in the healthcare real estate market and we are grateful for their support." Gordon Soderlund, conference co-chair and Senior Vice President Business Development, Lend Lease added, "As one of the market leaders, Lillibridge's insights on strategies to address healthcare real estate's changing needs and operating challenges will certainly add significant value to what promises to be a stimulating discussion, particularly as those challenges impact healthcare systems' real estate strategies."
BOMA's 2012 Medical Office Buildings and Healthcare Facilities Conference will explore a number of crucial issues for the healthcare real estate landscape including:
• Accountable Care and Alternative Delivery Models
• Capital Demands and Sources for Healthcare Organizations
• Physician Alignment and Its Implications for Real Estate
• Changing MOB Tenancies
• Challenges for Not-for-Profit Healthcare Systems
• Physician Practice Economics and their Impact on MOB Tenancies
• Aligning Healthcare and Real Estate Strategies
• New Modalities of Care
• Repurposing Healthcare Real Estate
• Inside Key Healthcare Real Estate Transactions
• Stark Compliance in the Wake of Healthcare Reform
More than 700 hospital and healthcare real estate executives from across the U.S. are expected to convene at BOMA's 2012 Medical Office Buildings and Healthcare Facilities Conference in the Hyatt Regency Atlanta in Atlanta, Georgia on May 2-4, 2012. Full program details, including a complete speaker list and registration information, are now available. Learn more www.boma.org/mob
\\ VENTAS COMPLETES COGDELL SPENCER ACQUISITION
CHICAGO April 2, 2012 - Ventas, Inc. (NYSE: VTR) ("Ventas" or the "Company") announced today that it has completed its previously announced acquisition of Cogdell Spencer Inc. (NYSE: CSA) ("Cogdell").
"With the closing of the accretive Cogdell acquisition, Ventas is now the largest owner of medical office buildings ("MOBs") in the U.S. with over 21 million square feet of owned and managed properties," Ventas Chairman and Chief Executive Officer Debra A. Cafaro said. "This transaction increases our MOB portfolio from 12 percent to 15 percent of our total business, and we now have a coast-to-coast presence that is second to none in the healthcare real estate industry. We welcome our new colleagues from Cogdell, who have built a well occupied, attractive portfolio of 72 high quality MOBs."
"With over 25 years serving leading healthcare systems, hospitals and physicians, we look forward to working with Cogdell's clients," Ventas Executive Vice President of Medical Property Operations Todd W. Lillibridge said. "We now have over 60 strong hospital relationships, making Ventas well positioned to grow and to continue delivering value to our clients and stakeholders."
Upon the closing of today's transaction, the Cogdell MOB portfolio and employees were integrated into Ventas's Lillibridge Healthcare Services operating platform. In addition, consistent with the terms of the definitive transaction agreement, Cogdell has completed the sale of its Marshall Erdman design-build and development business to an affiliate of Lubar & Co., a well regarded private equity firm affiliated with David Lubar.
The Company's 2012 normalized FFO per share guidance issued on February 17, 2012 included the impact of the Cogdell acquisition in the second quarter of 2012. This guidance is subject to all assumptions and estimates set forth in the Company's February 17, 2012 press release.
Effective today, shares of Cogdell common stock will no longer be traded on the New York Stock Exchange.
Ventas, Inc., an S&P 500 company, is a leading healthcare real estate investment trust. Its diverse portfolio of more than 1,400 assets in 47 states (including the District of Columbia) and two Canadian provinces consists of seniors housing communities, skilled nursing facilities, hospitals, medical office buildings and other properties. Through its Lillibridge subsidiary, Ventas provides management, leasing, marketing, facility development and advisory services to highly rated hospitals and health systems throughout the United States.
More information about Ventas be found at http://www.ventasreit.com/
\\ LILLIBRIDGE MOB EARNS BOMA RECOGNITION
24/7 BEST PRACTICES PAY OFF AS FACILITY WINS 360 CERTIFICATION
CHICAGO and MESA, AZ March 28, 2012 - Managing any office building to the highest standards is not always easy. Attaining excellence in a medical office building (MOB) is even more difficult due to the requirements of multiple tenants with varying disciplines, stringent regulations and the challenge of being energy efficient in a facility that averages nearly three times the power demand of a typical office building.
Yet Lillibridge has done just that, recently earning BOMA 360 certification by the Building Owners and Managers Association (BOMA) International for one of its MOBs: Desert Medical Pavilion in the Phoenix suburb of Mesa. The Chicago-based healthcare real estate firm's meticulous attention to best practices in building operations and management enabled it to meet the BOMA 360 Performance Program standards.
"We are pleased and proud that Desert Medical Pavilion and our property management team have achieved this high standard of excellence," says Todd W. Lillibridge, president and CEO of Lillibridge. "I recognize the effort and dedication it took, and I congratulate them on achieving this great milestone."
"By achieving the BOMA 360 designation for your building, you demonstrate to your owners, tenants, prospective tenants and the community that your property is being managed to the highest standards of excellence," says BOMA International Chair Ray H. Mackey Jr., partner and chief operating officer, Stream Realty Partners LP.
BOMA 360 is a groundbreaking building designation program that evaluates properties in six major areas: building operations and management; life safety/security/risk management; training and education; energy; environment/sustainability; and tenant relations/community involvement. The BOMA 360 Performance Program takes a holistic approach to evaluating a building's operations and management, and benchmarks a building's performance against industry standards. The program comes at a critical time, as building owners and managers are looking to differentiate themselves in a demanding market.
Developed by Lillibridge and completed in 2004, the five-story, 87,960 square foot Desert Medical Pavilion is located at 1432 S. Dobson Rd., on the campus of Banner Desert Medical Center in Mesa. It is connected to the medical center and an adjacent parking structure.
"We are really on a roll with this building, having won BOMA's The Outstanding Building of the Year (TOBY) regional award in 2010, then receiving our ENERGY STAR certification last year, and then reaching the 100 percent leased mark just recently," says Devona Whorton, the Lillibridge property manager in charge of the facility. "Once we achieved the regional TOBY, that really helped us to qualify for BOMA 360 status." Ms. Whorton says the status is something they intend to maintain and even surpass.
For more information on the BOMA 360 program, please visit www.boma.org/GetInvolved/BOMA360
\\ FROM REIT.COM
Shifting Demographics Affecting Health Care Real Estate
March 21, 2012 | By Matt Bechard
↑ Click to play Todd W. Lillibridge video on REIT.com - posted with permission from REIT.com
With more Medicare-eligible patients in need of medical care, the demand for outpatient facilities continues to rise, Lillibridge told REIT.com in a video interview at the Akerman U.S. Real Estate Summit this month in Miami. Lillibridge said his firm, which invests in health care real estate, is projecting a 30 percent increase in the growth of outpatient health care services in the next 10 years, and general shifting away from inpatient procedures performed in hospitals.
“There has just been an extraordinary amount of pressure on reducing the amount of inpatient care,” he said. “As a result, we see a whole new revenue stream and percentage of revenue around the outpatient more often today than ever before.”
With the medical industry still grappling with the uncertainty surrounding the regulatory system for health care, Lillibridge said his company’s tenants have been hesitant to make long-term commitments for medical office space. Instead, they’re more likely to want one-year or month-to-month leases, as opposed to five- or 10-year deals.
“Uncertainty is probably the biggest thing we deal with and address today in our business,” Lillibridge said.
In terms of new development, new projects throughout the health care sector have dropped off significantly since 2008, Lillibridge noted. He said the firm has seen new development tick up in the last 14 months. However, Lillibridge said his firm is taking a cautious approach to its own new starts.
“I think one of the beauties of the medical office and outpatient space is that it has never been a speculative market to begin with,” he said. “But I think, even more today, it’s really picking the right partners in the right health systems and hospitals. Secondly, making sure you spend the time and the energy sizing the facility.”
Lillibridge also emphasized the need for “adequate” levels of pre-leasing for a development project.
Chicago-based Lillibridge Healthcare Services is a wholly owned subsidiary of Ventas.