OBAMACARE AND REAL ESTATE
We talked healthcare reform (and snapped this picture) over coffee with Russ Posey from The Alter Group. Part of Russ? job is figuring out where healthcare is headed. He works for Alter+Care, which develops healthcare facilities—everything from imaging centers to doctors? offices. His take: Healthcare reform likely will be good for his business. As providers increase efficiencies, they'll need new and different facilities. Think more outpatient surgery centers and minute clinics. Of course, there are many questions, such as what accounting changes are going to mean. ?We want to be a partner with the healthcare system,? Russ tells us. ?We want our real estate to be cost-effective and efficient. ?
Alter+Care is focused primarily on the southeast and the Sunbelt(reason: population trends), though it has projects in other markets such as Philly. Above is Morehead Medical Plaza in Charlotte.Alter+Care developments are typically between 50k and 300k SF and include ambulatory facilities (where you have a procedure and are back on your feet and on your way home within 24 hours), wellness centers, surgery centers, minor procedure centers, traditional clinical facilities, etc. The Alter Group is based near Chicago and has had a regional office in Atlanta since the mid-80s. We also asked Russ about current economic conditions. He says the biggest challenge is the financial markets; it's harder for healthcare firms to issue bonds, which is how they have traditionally paid for real estate.