PDF Copy - American Healthcare Investors

Health Care Real Estate
Pioneers
Barely a blip on the radar screen 20 years ago, healthcare
has been among the fastest-growing—and fastest-evolving—
sectors in real estate. Meet 16 leaders who have helped to make
the business what it is today.
By Paul Bubny, Rayna Katz and Erika Morphy
James D.
Bremner
In the mid-1990s, James
Bremner was among the
first commercial real estate
developers and investors to
recognize the growing
need—and opportunity—
presented by the healthcare industry. He founded
Bremner & Wiley, a pioneering firm in the sector,
in 1994; it later grew into
an industry leader as
Bremner Healthcare Real
Estate. In 2004, Bremner
Healthcare formed a joint
venture with Duke Realty; the partners developed nine facilities
totaling 784,000 square feet over the next three years. The success of this working relationship led Duke to acquire Bremner
Healthcare in 2007, and today, Bremner serves as president of
Duke Realty’s healthcare division, which has amassed a portfolio of 5.4 million square feet under his direction.
Debra A. Cafaro
Debra Cafaro has been CFO of Ventas since 1999 and chairman
of its board of Directors since 2003. She almost needs no introduction—Cafaro is easily recognized from her many professional
commitments and industry accolades. Here is the short list: She
was selected as one of the Top 50 Women in World Business by
36 Real Estate Forum October 2013
the Financial Times, and one
of the 100 Most Influential
People in Healthcare by
Modern Healthcare. She was
also voted by investors and
analysts to Institutional
Investor’s 2011 and 2012 “AllAmerican Executive Team.”
Cafaro is a former chair of
NAREIT and has served as a
distinguished representative
voice for REITs in general.
She came to health care real
estate via a circuitous route:
her background and educational training was in the law.
She served as a judicial clerk to the Hon. J. Dickson Phillips, US
Court of Appeals for the Fourth Circuit, and has taught real estate
transactions and finance from 1988 to 1992 as an Adjunct
Professor at Northwestern University Law School.
Joseph D. Carroll
Joseph Carroll formed Triad Partners in 1986 and has been
president and CEO ever since, directing all aspects of the development process, including land acquisition, entitlements,
design, construction, leasing, financing and disposition. Over
the course of his career, Carroll has served as an executive of two
former NYSE-listed companies—Caesars World and G&L Realty,
a healthcare REIT. He was also the president of Westgroup,
which acquired and redeveloped a number of large-scale projwww.forum.globest.com
ects in Downtown Los Angeles, and was principal and CEO of
Windsor Capital, which acquired and managed a large portfolio
of apartment projects throughout the United States.
George L. Chapman
The founders of Health Care
REIT, Bruce Thompson and Fritz
Wo l f e , r e c r u i t e d G e o r g e
Chapman in 1992 to succeed
them, lead a management transition and execute a strategic repositioning for the company, the
first real estate investment trust
dedicated to the sector. Four
years later, Chapman became the
REIT’s chairman and CEO, taking on the title of president once
again in 2009 after previously
serving in that capacity between 1995 and 2002. On his watch,
HCN has grown from a $358-million company into a $23-billion
one that’s on the S&P 500 list. A recent highlight was the
$4.3-billion acquisition of Sunrise Senior Living, a deal that
closed this past summer and put HCN among the world’s largest
owners in this sector.
Sharon Harper
With a list of honors that could go
on for days, Sharon Harper has
made Plaza Cos.—where she is president and CEO—a star in the healthcare business. During the course of
her leadership, Plaza has been honored as one of Arizona’s most
admired companies by Arizona
Business Magazine; large developer
of the year by NAIOP; by BOMA for
medical office building of the year, for three years; and by
Arizona Business Magazine as an ‘economic engine’ in 2007.
Among her personal accomplishments, she has served as chairman of the Greater Phoenix Economic Council, an honorary
commander of Luke Air Force Base and national finance
chairman of the 2000 and 2008 presidential campaigns of
Arizona Sen. John McCain.
Chaim Katzman
Chaim Katzman is a chairman
several times over. Among the
firms where he holds that title is
ProMed Properties Inc., a privately held subsidiary of GazitGlobe Ltd., a global real estate
investment company listed on
the Tel-Aviv Stock Exchange.
ProMed’s primary investment
objective is the creation of value
through long-term maximization of cash flows and capital
appreciation from its healthcare
real estate investments. ProMed’s primary investment objective
is the creation of value through long-term maximization of cash
flows and capital appreciation from its healthcare real estate
investments. Katzman also serves as chairman for Gazit-Globe’s
parent company, Gazit Inc.; Equity One, an NYSE-listed REIT;
www.forum.globest.com
First Capital Realty, an Ontario real estate company listed on the
Toronto Stock Exchange; Atrium European Real Estate, a leading real estate company in Central and Eastern Europe listed on
the Vienna Stock Exchange and Euronext Amsterdam; and
Citycon, a long-term developer of shopping centers listed on the
NASDAQ OMX Helsinki Ltd.
Joseph Kelleher
Now president of Simone
Development Cos., Joseph
Kelleher has some 30 years of
experience in property management to his credit. He began his
career with the real estate division
at NYNEX, where he served as
property manager for the corporate headquarters building in
Manhattan. From there, he steadily
advanced in the industry, serving
as director of property management for Catalano Kornblum
Management Corp. and Winoker
Realty Corp., and then as CEO for Casino New York LLC. He
joined Simone in 2003 to direct the leasing and management of
the Hutchinson Metro Center, the company’s highly visible and
much talked-about office complex in the Pelham Bay section of
the Bronx.
Peter Kloepfer
A co-founder of NexCore Group,
Peter Kloepfer is pivotal to the
company’s strategic planning. As
CIO, his leadership drives the
structure of NexCore’s development and acquisition projects, the
evaluation and negotiation of capital and debt sources, and major
project delivery. Kloepfer brings 24
years of real estate development
financing and structuring experience to NexCore. He has been responsible for over $2 billion of
real estate transactions and has invested in more than $450 million of projects. Kloepfer has the Colorado CPA certification
and he is involved with the American Bar Association, American
Society of CPAs, Colorado Bar Association, and Colorado
Association of CPAs.
Todd W.
Lillibridge
Now a wholly owned subsidiary of Ventas Inc.,
Lillibridge Healthcare
Services began as a company of real estate professionals. “But soon, the
organization grew and
added healthcare professionals who began teaching the real estate folks
about healthcare—and
the real estate professionals taught the healthcare professionals about
October 2013 Real Estate Forum 37
real estate,” writes Todd Lillibridge, its president and CEO.
Lillibridge, who also serves as executive vice president of medical property operations for parent company Ventas, is responsible for the strategic focus, vision and overall leadership of
medical office building operations for both the subsidiary and
its parent company. He distinguishes the company’s clients
from its customers, noting, “Our ‘clients’ are hospitals we principally work for, and our ‘customers’ are the thousands of physicians across the country who are tenants in the medical office
buildings we own or manage.”
Scott D. Peters
The founder of Healthcare
Trust of America in 2006,
Scott Peters has grown it
into one of the nation’s largest dedicated owners of
medical office buildings as
the company’s president
and CEO. HTA went public
in 2012 and has more than
13.6 million square feet of
healthcare real estate with
an enterprise value exceeding $3.5 billion. HTA operates its portfolio through its
property management platform, which is focused on
meeting the unique needs
of healthcare systems and physicians. This is the third real estate
company that Peters has grown and taken public, the others
including NNN Properties—later merged with Grubb & Ellis,
where he became CEO—and Golf Trust of America Inc.
Danny Prosky
A founding principal of
American Healthcare
Investors, Danny Prosky is
also the president and COO
of Griffin-American
Healthcare REIT II, which he
launched in 2009 as Grubb &
Ellis Healthcare REIT II.
Prior to launching Grubb &
Ellis Healthcare REIT II, the
20-year healthcare real estate
veteran served as executive
vice president of Grubb &
Ellis Healthcare REIT, now
known as Healthcare Trust of
America Inc., overseeing the
acquisition of more than $1.5
billion of assets. Before the
Grubb & Ellis REITs, Prosky
served in a variety of senior positions at American Health
Properties and Healthcare Property Investors; the latter, which
acquired American Health Properties in 1990, is now the nation’s
largest publicly traded healthcare trust.
Congratulations
Jim Bremner
Duke Realty congratulates Jim Bremner for being
recognized as one of Real Estate Forum’s Healthcare Real
Estate Pioneers. Responsible, respectful and resourceful,
Jim leads Duke Realty’s healthcare team on its promise
to provide reliable answers to our clients.
dukerealty.com/healthcare
38 Real Estate Forum October 2013
www.forum.globest.com
HEALTHCARE REAL ESTATE
December 10-11, 2013
The Phoenician, Scottsdale
2013
RealShare
*Early Bird Rate:
$425
*(Expires 11/08/13)
Chairman Sponsor
Regular Rate:
$550
Confirmed Speakers (partial list):
Presidential Sponsors
Executive Sponsors
Sean Moghavem
Archway
Holdings Corp
Eric
Johnson
Transwestern
Steven A.
Kaye, Esq.
Arnall Golden
Gregory LLP
Michael Noto
Health Care
REIT
Danny Prosky Zeke Turner
Griffin-Ameri- Mainstreet
can Healthcare Property Group
REIT II
Michael
Vaughn
Walker &
Dunlop, Inc.
John
Wadsworth
Colliers
International
Promotional Sponsor
*Sponsors list as of 10/15/2013
Sponsorship Information
Daniel Ceniceros - 213.236.3698 [email protected]
Murray Wolf
Healthcare
Real Estate
Insights™
General Information
Emily Lettieri - 212.457.7765 [email protected]
For details and updates, visit: www.realshareconferences.com
Richard M.
Rendina
As chairman and chief
executive officer of
Rendina Cos., Richard
Rendina leads all strategic
and operational functions
of the company—a role
that has allowed him to
develop an extensive portfolio of healthcare real
estate throughout the
country. Rendina, in short,
has personally overseen
the development of more than one million square feet of real
estate in nine states, representing project costs of approximately $200 million. At the same time, Rendina is active on
multiple boards, including the Economic Council of Palm
Beach County, BIZPAC, Habitat for Humanity of Palm Beach
County, Cardinal Newman High School and the Abacoa
Property Owners’ Assembly.
through the present. Today, reimbursement compression, regulatory controls and market economics all have made the assistance of
a third-party real estate firm
increasingly attractive to healthcare systems. Saada’s specific interest is at the strategic level, where
he works with system executives on
new integrated facility deployment
as a means to improve care delivery, solidify physician relationships, revitalize existing campuses and enter new markets.
John Shufeldt
Twenty years ago, John
Shufeldt founded NextCare
Inc., and as chairman and
CEO he grew the company
from a single clinic to 58
across six states, with annualized revenue of nearly $100
million. After spending 17
years growing an urgent care
company, he realized that
healthcare’s new frontier was
treating patients virtually. In
2010, Shufeldt stepped away
from NextCare and founded
Jean-Claude Saada
As founder of Cambridge, as well as its chairman and chief
executive officer, Jean-Claude Saada brings 22 years of leadership to the organization. He has guided the firm’s development in more than $1 billion of transactions from a time when
restrictions on provider payments were initially introduced
2013
RealShare
NET LEASE WEST
November 19-20, 2013
The California Club, Los Angeles
Chairman Sponsor
Presidential Sponsors
Executive Sponsors
Promotional
Sponsors
Sponsorship Information
Gregg Christensen - 212.4579664 - [email protected]
General Information
Brooke Sandella - 212.457.9682 - [email protected]
For details and updates, visit: www.realshareconferences.com
40 Real Estate Forum October 2013
www.forum.globest.com
MeMD LLC. At present, MeMD’s SAS model is used by more than
300 providers in 40 states to virtually treat patients on-demand
and without them having to leave their residence or place of
work. He also founded Urgent Care Integrated Network, a GPO
and integrated delivery model to improve the care, efficiency and
contracting activities of urgent care centers across the US.
Greg Venn
In late 2003, Greg Venn
structured, managed, and
closed an acquisition/disposition transaction in
excess of $110 million that
kicked off the creation of
NexCore Group. He cofounded the company in
2004 to grow a national
platform for the development, ownership, and management of healthcare real
estate. Under his leadership as president and CEO,
NexCore has grown into a
45-person company that
has been recognized as one
of the top healthcare real estate developers, having developed
and acquired 3.8 million square feet of healthcare facilities. With
over 20 years of experience in real estate development, Venn has
developed and/or managed projects ranging in size from 30,000
to 300,000 square feet and from $10 million to $100 million.
John O. Wilson
An industry veteran of more
than 30 years’ standing, John
Wilson is president of HSA
PrimeCare,
HSA
Commercial’s healthcare real
estate group. The group,
which specializes in healthcare
real estate consulting, leasing, development and property management, is an outgrowth of a healthcare real
estate advisory initiative that
Wilson launched in 1995.
HSA PrimeCare has served
clients such as Advocate/
Good Samaritan Hospital,
Christ Medical Center, Lutheran General Hospital, University of
Chicago Hospitals, Children’s Memorial Hospital, Franciscan
Alliance, Ingalls Health System and Loyola Medical Center. The
group has quickly grown its portfolio of developed and purchased properties to 20-plus healthcare facilities, and now manages medical properties totaling over one million square feet
across the Midwest and Florida. ◆
Reprint orders: www.remreprints.com
Danny Prosky
Principal, American Healthcare Investors
President, Griffin-American Healthcare REIT II
American Healthcare Investors and Griffin-American Healthcare REIT II
congratulate Danny Prosky on his well-earned recognition as a
“Pioneer of Healthcare Real Estate.”
www.AmericanHealthcareInvestors.com
www.forum.globest.com
October 2013 Real Estate Forum 41