Remedy Medical Properties Secures $700M in Ground-Up Projects
In the past 24 months, Chicago-based Remedy Medical Properties has secured more than $700 million in ground-up starts. Remedy, together with partner Kayne Anderson Real Estate, is the country’s largest private owner of healthcare properties.
“For the past decade, we have averaged over a billion dollars in acquisitions each year, and we’re thrilled to see new construction become one of our primary drivers of growth,” said Remedy founder Peter Westmeyer. We have made nearly $500 million in new starts this year alone, and in spite of economic volatility, we haven’t had to re-trade terms on a single deal.”
Remedy created a dedicated development arm in 2017. Core leadership of the team came from Duke Realty Healthcare, a real estate investment trust that specialized in medical properties. Remedy’s development team is organized by discipline, including design and development, pre-construction and design, construction oversight, and accounting.
The company’s in-house strategic innovation firm, Percival Health Advisors, performs a market analysis to ensure there is demand for the services planned for the facility and that the building is right-sized for that level of demand.
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Brokers
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Remax Real Estate Professionals
Re/Max Real Estate Professionals
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Jared Ennis
Central CA Commercial | California
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Rick Recckio
Recckio Real Estate & Development
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Greg Corbin
Northgate Real Estate Group
Lenders
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Essex Property Trust, Inc.
California
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Josh A
California
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Bob Tuteur
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Andrew Schildcrout