- President Biden released his proposed budget for fiscal year 2024. The $6.9 trillion budget includes a number of health care and real estate proposals. In terms of health care proposals, Biden would like to make Affordable Care Act subsidies permanent, give federal health care agencies more power to negotiate drug pricing for high-value generic drugs, and provide funding for home and community-based health care services. In terms of real estate proposals, Biden would like to eliminate 1031 like-kind exchanges and increase funding for several affordable housing programs, including federal tax credits and state and local grant programs.
- North Carolina legislators have tentatively agreed on a bill that would change its Certificate of Need (CON) law and provide for Medicaid expansion. If approved, the bill would remove CON requirements for behavioral health and substance abuse beds, certain surgery centers and outpatient facilities and for MRI machines in smaller communities. It would also increase CON cost thresholds for other types of health care equipment. Hospital beds would remain subject to CON requirements.
- UnityPoint Health and Presbyterian Healthcare Services announced plans to merge. If the merger is completed, the new health care system will have 40 hospitals in Iowa, New Mexico and Wisconsin and hundreds of clinic locations.
- Mayo Clinic has filed a zoning application for its 120-acre medical and research campus called “Discovery Oasis” in North Phoenix. If completed, the project will have 3.3 million square feet of health care and life science space. Ground breaking is expected in 2024.
- Hall Render will be hosting a webinar titled: Capture Real Estate Value in Challenging Economic Constraints: Strategies and Trends for 2023. This is a webinar for hospitals and health care systems. Contact John Marshall for details.
- VillageMD has acquired a large physician group in Connecticut with 30 locations and 50 physicians.
- Walmart Health plans to open 28 retail health care clinics in 2024. The new clinics will be located in Walmart Supercenters in Dallas, Houston, Kansas City and Phoenix.
- Knight Frank published its 2023 Wealth Report – The top property sectors according to high net worth investors are health care, logistics, office and residential.
- According to new data from Redfin, the following are the top U.S. cities where people are moving: Miami, Phoenix, Las Vegas, Sacramento and Tampa.
- Becker’s published an article on Monticeto’s ASC portfolio and how it has acquired 19 ASCs over a period of time.
- Banner Health (Phoenix, AZ) is looking for a Senior Real Estate Strategist. More details about the opportunity can be found here.
For more information on real estate matters, please contact:
- Andrew Dick at adick@hallrender.com or (317) 977-1491;
- Joel Swider at jswider@hallrender.com or (317) 429-3638; or
- Your primary Hall Render contact.
Special thanks to Thomas Dziwlik, undergraduate intern, for his assistance in the preparation of this article.
