SAN DIEGO, CA – September 28, 2009 – PMB Real Estate Services, a market leader in the professional management of medical office buildings, continued its record breaking year as it was selected by Nationwide Health Properties, Inc. (NYSE: NHP), to manage an eight-building, 394,000 square foot portfolio in Louisiana. The company will complete its first full month of operational management in September. With the addition of this portfolio, PMB RES provides services for 43 buildings totaling 2.8 million square feet in seven states. The annual revenues of assets under management will now be in excess of $84 million annually.
“We received proposals from many of the leading commercial property management firms,” commented Brent Chappell, NHP’s Vice President of Portfolio Management. “This was a very important decision for us, and we ultimately chose PMB RES because of its track record of success and rich history of working with hospital administration. They have clearly mastered the unique nuances of working with medical tenants.”
To facilitate the transition, RES hired seven associates who made up the previous management team. “We welcome our new team members in Louisiana and look forward to building our relationship with NHP,” stated Claude Hooton, President of PMB RES. “RES has made it a goal to maximize ownership profits while delivering a differentiated level of tenant service.” “We currently manage a number of other properties for NHP, and they have been a tremendous partner to work with.”
RES was awarded the contract in August and began notifying tenants and hospital administration later that month.
About PMB Real Estate Services
PMB Real Estate Services LLC, a leader in providing real estate management solutions for healthcare, manages a portfolio of 43 medical office buildings throughout California, Nevada, Arizona, Oregon, Washington, Louisiana, and Hawaii. Company services include asset management, tenant relations, tenant improvement construction, maintenance and repairs, property accounting, and lease negotiation. PMB RES is a wholly owned subsidiary of the healthcare developer, Pacific Medical Buildings, and real estate investment trust, Nationwide Health Properties, (NYSE: NHP).
About Nationwide Health Properties
Nationwide Health Properties, Inc. is a real estate investment trust that invests in health care facilities. The Company and its joint venture have investments in 582 facilities in 43 states. For more information on Nationwide Health Properties, Inc., visit the Company’s website at www.nhp-reit.com.
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