CBRE Vice Chairman Exits To Form Life Sciences Private Equity Firm
In the midst of a resurgence of healthcare real estate and a fresh infusion of capital in life sciences properties, Chris Bodnar, a 19-year fixture and vice chairman at CBRE, on Tuesday announced the launch of his own private equity firm called Prescriptive Capital.
Prescriptive Capital will specialize in healthcare, life sciences and senior living, according to a press release, focusing on development and acquisition opportunities between $5M and $200M.
“While there is a lot of institutional capital seeking opportunities in these alternative sectors, we’ve created a unique platform where we can provide very flexible solutions for our partners,” Bodnar said in the release.
“Our goal is to be an alternative to traditional institutional capital, allowing our operating partners to run their business autonomously while providing them the opportunity to leverage our team’s relationships and experience.”
Denver-based Bodnar co-founded CBRE’s healthcare and life sciences capital markets division and worked on some of the country’s most notable healthcare real estate transactions, including last month’s sale of $91M worth of medical office buildings. During his time at CBRE, Bodnar worked on transactions totaling $20B in value, according to the release.
Prescriptive Capital is headquartered in Denver, with an office in one of the city’s newest skyscrapers at 1144 15th St. Denver is home to a burgeoning life sciences industry and has seen a significant increase in healthcare real estate leasing as the pandemic subsides.
Prescriptive Capital launched as a joint venture with Brue Baukol Capital Partners, another firm led by former CBRE brokers, which hopes to diversify its investment offerings with the partnership.
“Brue Baukol Capital Partners has enjoyed great success investing in traditional real estate asset classes,” Brue Baukol CEO and founder Chad Brue said in the release. “However, our investors continue to seek ways to diversify their portfolio with alternative real estate assets, necessitating a platform that’s solely focused on these nuanced sectors.”