Murray W. Wolf

by Murray Wolf
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Murray Wolf is the publisher and founding editor of Healthcare Real Estate Insights.

"All else being equal, you or I would be more excited about going to a nice, spanking-new, clean, beautifully designed facility, vs. something dating back to the '60s or '70s," says Murray Wolf, publisher of Healthcare Real Estate Insights, a trade publication.

As Murray Wolf, publisher of the Healthcare Real Estate Insights newsletter, says, "Just as the rest of us, (physicians) watched the stock market plodding along and decided to invest in real estate." 9

"Physicians want to become partners," said Murray Wolf, publisher of the newsletter Healthcare Real Estate Insights, who, like many others, has held seminars about health care real estate.

Suzanne Dimmel | Greg Walton | Murray Wolf
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Another reason, said Murray Wolf, publisher of Healthcare Real Estate Insights, is the fact that the "big four" commercial real estate categories -- office, industrial, retail and multifamily -- have been depressed in most metro markets in recent years.

"The stock market hasn't been particularly lucrative, either," Wolf said."So a lot of investors have been casting about for alternatives."

On Jan. 26, for instance, Denver-based NexCore Group and San Francisco-based RREEF, a unit of Deutsche Bank, announced a joint venture that will invest $500 million in the MOB market during the next three years, Wolf said.

It's happening in communities all over the country," said Murray Wolf, publisher of the trade magazine Healthcare Real Estate Insights."There were a lot of hospitals built in the '50s and '60s. ... They're really no longer adequate for today's health care needs."

Hospitals often choose to build new facilities elsewhere, rather than renovating their existing sites, because the population has shifted away from their downtown locations, Wolf and others said.

New construction, he said, can also be less expensive than renovation because there are no demolition costs, and new buildings cost less to operate than old ones.

"Financially, hospitals are doing better than they were 10 years ago," Wolf said.
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In addition to cost savings and operational benefits, Wolf said an all-new facility presents a marketing benefit to hospitals trying to compete with other health centers in their community.

"There's also a big opportunity there for the hospital to kind of reinvent itself, rebrand itself," he said.

"Commercial real estate follows rooftops, and it is the same in health care real estate," says Murray Wolf, publisher of the newsletter "Healthcare Real Estate Insights," who will serve as panel moderator.

Moderator: Murray Wolf, Managing Principal and Publisher of Healthcare Real Estate InsightsPanelists: Philip "P.J." Camp, Principal, Shattuck Hammond Partners

According to Murray W. Wolf, Publisher and Founding Editor, Healthcare Real Estate Insights, the answer can be found in understanding shifts in outpatient care as well as demographic and construction trends.

"All else being equal, you or I would be more excited about going to a nice, spanking-new, clean, beautifully designed facility, vs. something dating back to the '60s or '70s," says Murray Wolf, publisher of health care Real Estate Insights, a trade publication.