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Whatever your opinion on the healthcare bill, this is certain: It'll impact real estate. Savills exec. managing director Jeffrey Cooper tells us that for each of the new 32M insured, we need 1.9 SF of space, leading to the possibility of 60M SF of new development.
Savills executive managing director Jeffrey Cooper
Due to reduced reimbursements for inpatient treatment if procedures can be accomplished on outpatients, Jeffrey says hospitals will build more ambulatory surgery and office space. Many hospitals have avoided investment until new laws, and now they can start long-term capital plans; expect an increase in on-campus construction, infill sites, and satellite campuses. Healthcare REITs are also looking to expand with their ample cash from recent debt and equity raises in the public markets. (Will ambulance chaser be reclaimed as a term of business acumen?)
Related Topics: Jeffrey Cooper