Healthcare Advisory Team Forecasts Growth in Demand in Tightening Medical Office Market
January 24, 2019
Atlanta – Transwestern’s Atlanta office today announces it has been named the exclusive leasing, property management, and construction management firm of a medical office portfolio consisting of 14 properties totaling 444,167 square feet in Atlanta’s burgeoning healthcare market. Transwestern’s Southeast Healthcare Advisory Services team of Senior Vice President Steve Hall, Vice President John V. Lopez, and Analyst Bo Stuart will provide leasing services, while Senior Director Russell Lipscombs’s team will handle property management on behalf of the owners, Griffin-American Healthcare REIT III Inc. and Griffin-American Healthcare REIT IV Inc., healthcare real estate investment trusts co-sponsored by American Healthcare Investors LLC
“A medical office portfolio of this size is rare in Atlanta’s high-barrier-to-entry healthcare market,” said Hall. “We will work with American Healthcare Investors and its co-sponsored REITs to revitalize the portfolio and reintroduce it to our expansive network of healthcare providers and health system relationships to drive leasing activity.”
The portfolio features several of Atlanta’s largest healthcare systems as tenants, including Emory Healthcare, WellStar Health System, Northside Hospital Inc., and Children’s Healthcare of Atlanta, as well as institutional-level practice groups including OrthoAtlanta and Pinnacle Orthopedics. With well-located properties throughout metro Atlanta, the ownership is positioned to meet the needs of a diverse mix of users.
“Griffin-American Healthcare REIT III and Griffin-American Healthcare REIT IV, along with co-sponsor American Healthcare Investors, comprise a strong, experienced, and committed ownership group with the drive and capital resources available to reinvest in the portfolio,” added Lopez. “We look forward to working with the REITs and American Healthcare Investors to increase the occupancy of the medical office buildings and ultimately drive revenue.”
According to the results of Transwestern’s 2019 Broker Sentiment Survey, leasing activity, tenant walk-throughs, asking rents, and development in the medical office sector are all expected to increase, as a growing and aging population, combined with technological advances, drives demand. More than 90 percent of respondents expect asking rents to be slightly higher, driven by leasing activity and an overall tightening of medical office space.
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