Obamacare Means More Medical Offices for Philly
WhenObamacare fully kicks in next year, EnTrust Realty Advisors managing principal Jim Clark tells us the larger number of insured means more demand for real estate. Investors in metroPhiladelphiahave taken note. For one, he recently reppedAlter+Care in a complicatedequity investment by Harrison Street Real Estate for the72k SF MOB next to the Einstein Medical Center Montgomery inEast Norriton Townshipthat Alter+Care developed. (EnTrust is an affiliate of Alter+Care.)
The hospital wanted ownership with a long-term commitment, Jim tells us. Alter+Care wanted to realize some of thevalue of the property (above), whileHarrison Street not only wanted an investment, but a relationship with the developer and the hospital system to take advantage of long-term growth in the sector. (All that's missing is someone in a coma, and you've got a good hospital soap opera plot.)
