Article submitted by Matthew Shirley, Leasing and Sales Agent for Saurage Rotenberg Commercial Real Estate
Written by John Mugford Globe St. Febuary 4, 2013
After the Great Recession took its toll on most sectors of commercial real estate, even “recession-resistant” healthcare real estate, 2012 represented a comeback year for medical properties. Not only were MOB sales close to breaking an all-time record for volume, but development projects were on the upswing as well.
Now, it looks as if 2013 is going to be just as good, perhaps even a bit better, than 2012, according to experts in the field.
“The year is already off to a busy start,” says Philip J. “PJ” Camp, a principal with investment banking firm Hammond Hanlon Camp LLC in New York. “More and more investors continue to be interested in the space, and hospital systems are finally considered new development projects that are consistent with what they need to accomplish in the era of healthcare reform.”
Other healthcare real estate professionals note that the acquisitions market should remain strong, development of new healthcare facilities, especially those with hospitals and health systems as sponsors and tenants, will continue to pick up, and that vacancies should continue to drop, as they have in the past year or so.
Most of the people interviewed for this series of three stories are members of the Editorial Advisory Board of Healthcare Real Estate Insights (HREI).
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Matthew Shirley joined Saurage Rotenberg Commercial Real Estate in January 2011. Matthew is a graduate of Louisiana State University with a degree in International Trade and Finance. While at LSU Matthew was a member of Omicron Delta Epsilon The International Honor Society for Economics. Matthew’s professional memberships include the Greater Baton Rouge Association of REALTORS® Commercial Investment Division and the Louisiana Commercial Data Base (LACDB).
Saurage Rotenberg Commercial Real Estate is a member of the Baton Rouge Area Chamber of Commerce (BRAC); the West Baton Rouge Chamber of Commerce; the Baton Rouge Growth Coalition; the Baton Rouge Better Business Bureau; the Louisiana Commercial Data Base (LACDB); and the International Council of Shopping Centers (ICSC). Several agents, on an individual basis, are members of the Society of Industrial and Office Realtors® (SIOR), the Certified Commercial Investment Member Institute (CCIM); the National Association of REALTORS® (NAR); and the Greater Baton Rouge Association of REALTORS® Commercial Investment Division (CID).
