- PwC and the Urban Land Institute released their Emerging Trends in Real Estate for 2025. Key takeaways: 1) the top 5 markets to watch are Dallas, Miami, Houston, Tampa and Nashville; 2) optimism is growing in the real estate industry as interest rates have dropped; 3) demand for data centers is soaring with the growth of AI; 4) an oversupply of multifamily assets may exist in high-growth areas; and 5) higher insurance costs are affecting the commercial real estate and housing markets.
- Health Facilities Management released its 2024 Hospital Operations Survey. The top 5 challenges facing health facilities managers are: 1) aging facilities and infrastructure (most have facilities that are 50+ years old); 2) lack of funding; 3) recruiting and retaining staff; 4) skills gaps in facilities teams; and 5) manufacturers no longer supporting certain equipment or systems.
- CBRE released the results of its Senior Housing & Care Investor Survey for the second half of 2024. A majority of respondents reported no change in senior housing cap rates. Any reported changes in cap rates were relatively minor. About half of all respondents expect active adult (AA), assisted living (AL) and independent living (IL) rental rates to increase 3% to 7% over the next 12 months.
- The CEO of LeadingAge penned a letter to members of Congress asking for legislative assistance on the following initiatives for aging adults: 1) financial assistance for affordable senior housing; 2) an increase in home health funding; 3) reconsideration of the minimum staffing requirement for skilled nursing facilities; 4) reallocation of 40,000 visas to allow foreign physicians and nurses to work in the U.S. to address staffing shortages; and 5) Medicare and Medicaid changes to benefit seniors.
- Looking for last-minute opportunities to secure continuing legal education (CLE) credits? Look no further. Hall Render has a series of on-demand health law webinars that qualify for CLE credits. To learn more, click here.
- Mayo Clinic unveiled new information about its 120-acre Discovery Oasis biotech campus in north Phoenix. The first portion of the campus to be developed will cover about 37 acres and will include biotech, life sciences and health care innovation. Mayo Clinic is in negotiations with three developers to oversee the campus’s development. The finalist will be selected later this year.
- Intermountain Health announced plans for a new $1B replacement hospital in Billings, MT. The new 14-story hospital will include 737K sf and have 243 patient beds. It will be the largest capital project in Montana’s history.
- Johns Hopkins announced a $62M expansion of its All Children’s Hospital in St. Petersburg, FL. The expansion will increase the number of ER rooms and OR suites.
- Kaiser is expected to reduce its footprint at its national headquarters in Oakland, CA. The move is expected to create financial uncertainty for the building’s owner. Kaiser occupies 68% of the building under a lease for 366K sf. Kaiser has the right to give back up to 140K sf subject to the payment of a termination fee.
- The former St. Joseph’s Hospital in Providence, RI, will be auctioned off in the near future. The developer who acquired the property believes the site would be ideal for a mixed-use project with affordable housing.
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 Olivia Allison, undergraduate intern, for her assistance in preparing this article.
Hall Render blog posts and articles are intended for informational purposes only. For ethical reasons, Hall Render attorneys cannot give legal advice outside of an attorney-client relationship.
