April 26, 2023 – Chicago IL
Once again, The Building Owners and Managers Association (BOMA) International conference held April 26-28 proved to be a worthwhile investment. Despite recent capital market disruptions, there is both caution and optimism as we head into the second half of 2023. Topics discussed included the rising cost of construction and capital in the development world, as well as how to navigate today’s leasing environment. For example, some health systems that previously entered into 10 to 15-year leases are now limiting themselves to only 5 years. These same systems are now learning to navigate admin space and remote work within the administrative ranks. Each conference seems to bring more relevance to the topic of behavioral health. Matt Tarpley with H2C was a great moderator for that panel. There were great insights on the financing panel as well as how lenders and borrowers are having to be more creative. The discussion of the underwriting process in today’s market, specifically cash flow and reversion cap rate relevance was in depth in the Acquisition & Disposition panel. Brannan Knott with JLL was the moderator which included Mervyn Alphonso with Anchor, David Busko with Heitman, Kevin Nishimura with Artemis, and Jaso Signor with Big Sky Medical. Scott Pelley topped it off with his Key Note address on the state of the world from an award-winning journalist’s perspective.
This was a great opportunity to network with all of our clients and get caught up with numerous old colleagues from Healthcare Trust of America. Looking forward to working with all of them in the coming months and years ahead.
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