![]() doctor's age in 2014 was 52, according to the Federation of State Medical Boards, and a large number of medical office buildings are owned by doctors.Īs they get older, and consider liquidating investments, Physicians Realty is in a position to buy the buildings and lease them back to the doctors, Thompson said.Īround two-thirds of the properties bought by the company are not publicly advertised for sale, Thomas said.Īlso, Physicians Realty's average property purchase price is around $20 million. The company benefits from the facts that the average U.S. Thompson said that strategy has been helped by relationships that he, Thomas and other executives have with health care providers - the customers who lease the company's buildings. Physicians Realty's rapid growth has since been built by continually buying health care facilities. Physicians Realty had no established track record, with a just a small number of properties. Thompson said he was initially skeptical about the effort to raise money from investors. He was acquainted with Thompson from when the former governor was a cabinet secretary during President George W. (now known as Welltower Inc.) from January 2009 to July 2012, and previously was an executive at health care providers that included Cirrus Health and Baylor Health Care System. Thomas was an executive vice president at Health Care REIT Inc. OPINION: Grabel: A moment of reckoning: Health care experts vs. OPINION: Haislmaier: GOP health care bill misses the mark Thompson, the company's chair, and Chief Executive Officer and President John Thomas say prospects remain bright even as the new proposal to repeal and replace the Affordable Care Act roils the health care industry. Physicians Realty's $3 billion portfolio continues to grow, and that means more jobs at its headquarters in downtown's Historic Third Ward. Less than four years later, the real estate investment trust (REIT), which started with 19 buildings totaling 528,000 square feet, now owns 254 buildings in 30 states totaling around 11 million square feet. ![]() However, Thompson and his fellow co-founders of Physicians Realty Trust were successful, with the company's initial public offering hitting the market in 2013. "I thought it was a pipe dream," said the former Wisconsin governor and former U.S. Tommy Thompson admits to not having high hopes when he joined the effort to raise more than $100 million needed to launch a new Milwaukee company that owns medical office buildings and other health care facilities.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |