A new US partnership between Catalyst Healthcare Real Estate and has secured $300m (鈧�274.8m) to develop healthcare properties.
Commercial real estate services advisory firm Newmark Group 鈥� which arranged the joint venture between Catalyst Healthcare and Heitman 鈥� said it also helped secure the capital to fund the development pipeline of healthcare properties, including medical outpatient buildings, orthopedic centres of excellence and inpatient rehabilitation facilities.
The partnership will initially develop seven healthcare properties totalling nearly 500,000sqft across five states.
Chad Henderson, founder/CEO and managing partner of Catalyst Healthcare Real Estate, said: 鈥淐atalyst works in partnership with its clients to design comprehensive real estate solutions that best support their mission, vision and values of providing better access to care, higher quality outcomes and lasting relationships.鈥�
Brian Pieracci, the head of North America private equity at Heitman, said: 鈥滿edical office offers counter-cyclical qualities as a needs-based asset class, benefitting from secular demand drivers, including ageing populations and migration of medical services out of hospitals and into outpatient settings.
鈥淭he properties in the Catalyst portfolio are attractive investments due to the high acuity and strategic uses in the buildings for its major health system tenants.鈥�
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