PMB Recognized as One of Top 10 Firms in Healthcare Real Estate
(Reprinted from The Black Swan Ten of 2009)
As the year winds down (thank God!), every list imaginable is trotted out online and in print for the innumerable list-obsessed crazies i.e. my wife. There is a “best of, worst of” list for everything (List of Lists) from music, to art, to architecture, to political ads, to even the paranormal, and now, most important of them all, ours – Alternative Real Estate.
So here is my addition to the white noise of year end lists assembled from our site and chosen by frequency of appearance; financial impact and completely subjective, innovative approach.- THE TOP TEN BLACKSWAN REAL ESTATE FIRMS OF 2009 . They are not ranked in any particular order and I attempted to include a good cross-section of companies and players from the gamut of the alternative real estate categories we cover. The role and category will follow the name of each listee.
5. Pacific Medical Buildings (PMB), Developer & Operator/ Medical Office Buildings
PMB specializes exclusively in the development and management of medical office buildings, outpatient facilities and parking structures for hospitals, medical groups and universities. The firm currently owns and manages more than 44 facilities totaling approximately 3 million square feet with over 7,000 structured parking stalls, and has nine more projects under development that will total 720,000 square feet with 2,000 structured parking stalls.
So why put them on the list ‘09? Not only did they raise large amounts of cash recapitalizing assets by being oneof the first to JV with a REIT – Nationwide Health Properties (NHP.N) – as part of their $2 billion deal in 2008, but they recently announced the development of three new medical office buildings and one parking structure in Southern California. This will bring the company’s total amount of managed medical office space to more than 3 million square feet across seven states. No resting on their laurels.