Recognizing that the healthcare industry continues to grow despite a weakened economy, Dallas-based RM Crowe acquired a 60,000-square-foot medical facility in Bettendorf, Iowa, as part of its $50 million fund to pursue health care real estate opportunities nationwide. RM Crowe anticipates utilizing this fund to acquire approximately $150 million worth of new product over the next six to nine months. The company acquired the Terrace Park Professional Center in Bettendorf, Iowa. The on-campus medical office building is the first acquisition of the fund to pursue health care real estate opportunities nationwide. Terrace Park Professional Center is a state-of-the-art, medical office building with 59,600 rentable square feet. The four-year-old, three-story Class A property was custom designed to meet individual practice requirements and promote operational efficiency on the hospital campus of Trinity Regional Health Systems.\u201cThis property is new and it is on campus anchored by the hospital\u201d RM Crowe Chief Investment Officer H. Dodd Crutcher (pictured) told CPN. \u201cWe feel like the healthcare industry as a whole is growing. Demographics show the need for increased healthcare and the industry is not subject to the economic volatility that other industries may be. Healthcare as a whole, was attractive for that reason.\u201d Healthcare real estate and medical offices, in particular, were appealing, he added. \u201cThey have triple net rents, long term leases and solid tenant retention since doctors tend not to move nearly as frequently as retail tenants or other office users,\u201d he added. \u201cAdditionally, medical office buildings are accepted as a core investment class by Wall Street, institutional investors and the lending community.\u201d Crutcher said his firm is searching for properties that are geographically diverse with a focus, primarily, on medical office buildings that have some sort of hospital anchor. Currently, RM Crowe has three other deals that are under contract. RM Crowe is also investing in certain operating companies within the healthcare arena. RMC MedStone, a fully owned subsidiary of Dallas-based RM Crowe, is looking for opportunities to acquire exceptional ambulatory surgery centers and small surgical hospitals, in partnership with physicians. The RMC MedStone model is to acquire an appropriate percentage of each facility and to manage the operations and growth of the facilities\u2019 caseload and profitability. RMC MedStone offers a comprehensive program of operations, management, compliance, financial and clinical support services. In addition to the acquisition strategy, RMC MedStone plans to convert ambulatory surgery centers that have matured to the point where providing hospital services is appropriate. RM Crowe was founded in 1987 in Dallas. During the past 20 years, the firm and its principals have acquired, developed and\/or managed more than $600 million of real estate including more than 2,000 apartment units, more than 7.3 million square feet of office space, 670,000 square feet of retail space, 62,000 square feet of medical office space and 2,000 hotel rooms. RM Crowe currently leases and manages 5.4 million square feet of office and retail space. About 20 percent of those assets are leased and managed for other real estate owners.<\/p>\n","protected":false},"excerpt":{"rendered":"
Recognizing that the healthcare industry continues to grow despite a weakened economy, Dallas-based RM Crowe acquired a 60,000-square-foot medical facility in Bettendorf, Iowa, as part of its $50 million fund to pursue health care real estate opportunities nationwide. RM Crowe anticipates utilizing this fund to acquire approximately $150 million worth of new product over the…<\/p>\n","protected":false},"author":1314,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[37301],"tags":[],"class_list":["post-1003855152","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"acf":[],"yoast_head":"\n