Tag Archives: Ensemble Real Estate Solutions

Randy McGrane, Ensemble managing director, delivers prizes to Phoenix Children’s Hospital patients during Medical BINGO last week. Ensemble donated $52,000 to the hospital.

Ensemble donation helps bring smiles to children

Phoenix Children’s Hospital recently received a donation that is bringing entertainment options and more smiles to patients of all ages. A $52,000 donation from Ensemble Real Estate Solutions, a Phoenix-based full-service healthcare real estate firm, provided an update to the Hospital’s CATV network. This upgrade allows for high definition content being delivered directly to the patient rooms, including 12 new channels being broadcast to children’s rooms in the Hospital’s new tower. It’s also enabling Child Life to broadcast live television from the Child Life Zone studio, directly into sick kids’ rooms and waiting areas.

With video games, movies, arts and crafts and air hockey, the Child Life Zone is a place where patients go to hang out and just be kids. Now, with help from Ensemble, the Child Life Zone has an even greater reach, as patients who can’t leave their rooms can still be part of the fun and excitement by watching high definition TV in their rooms. This technology helps keep patients distracted with fun activities while going through the healing process.

As of April 16, the Child Life Zone is now “live” with interactive games and concerts. On the go-live date, CCTV Medical BINGO was broadcast live for the first time from the Zone to patients in the playrooms and in their hospital rooms. If a patient in their room wins at Medical BINGO, a Child Life Specialist will bring a prize to the patient’s room. Ensemble managing director, Randy McGrane, was on hand to deliver prizes during Medical BINGO last week.

“Ensemble has been a valued business partner with Phoenix Children’s Hospital for many years, while also being a generous supporter of the hospital through many philanthropic donations,” said Steve Schnall, the Hospital’s Senior Vice President and Chief Development Officer. “We are so thankful to Ensemble for their ongoing support and are grateful for their generosity.”

The recent donation was a direct result of unused contingency funds set aside for Ensemble’s development of the Phoenix Children’s Southwest Valley Center, a specialty and urgent care center, completed last year. The $14.7 million Avondale clinic features 27 patient rooms, two treatment rooms, X-Ray, ultrasound, three infusion bays and on-site lab services.

“We’re proud of our work with Phoenix Children’s Hospital and the 35,355 square feet developed on their behalf for the Phoenix Children’s Southwest Valley Center. This particular donation was rewarding because it embodied Ensemble’s philosophy of working together. The entire Southwest Center development team worked together to bring the project in under budget because they knew excess funds would go to PCH and we all love this Hospital. Today, to see the tangible impact is particularly gratifying. It’s bringing joy and smiles to patients and their families,” said McGrane. “Seeing the kids’ faces as they play Medical BINGO and watch high definition TV is a rewarding investment for sure!”

Curtis Robertson joins Ensemble Real Estate Solutions

Curtis Robertson

Curtis Robertson

Ensemble announced the recent hiring of Curtis Robertson as controller.

As Ensemble’s controller, Curtis serves as the final point of contact for any client concerns or issues, implements clients’ processes, oversees clients’ cash management including cash receipts and disbursements, provides financial reporting for tax and audit purposes and participates in the preparation of clients’ annual budgets. He additionally has final responsibility of all of Ensemble’s corporate accounting and treasury functions.

Curtis has a Master of Professional Accounting from University of Texas at Austin and is a licensed CPA in Arizona and Utah. Curtis brings over a decade of accounting experience beginning in 2002. Prior to joining Ensemble, he spent six years working for a private equity company that owns and manages over $3 billion in real estate holdings in 10 states.

Ensemble Real Estate Solutions, a full service provider of healthcare real estate services, serves Arizona, Nevada and California.

1048 PCH Avondale, WEB

Ensemble RE Solutions Reports $58.5M in 2013 Leases

Ensemble Real Estate Solutions maintained a steady pace in leasing activity for 2013, securing $58.5M in new leasing deals from 207 medical office transactions, totaling approximately 620KSF.

Ensemble also brokered seven sales transactions with a total value of $7.8M.

“We are proud of our team’s accomplishment in 2013,” stated Bill Molloy, Managing Director and CEO of Ensemble Real Estate Solutions. 

“Over the course of 2013 Ensemble launched several new initiatives to drive new business and as a result we look forward to seeing even more of an increase in activity in 2014.”

As Ensemble moves into 2014 the company is set to begin construction on Surprise Medical Plaza Phase II at THE CITY master planned campus in Surprise, Ariz.  Ensemble also expects to break ground on a new companion building development on the campus of Phoenix Children Hospital – Southwest Valley Center Specialty and Urgent Care in Avondale, Ariz.

Ensemble PressRelease Graphic, WEB

Ensemble Real Estate Solutions Employees Author ‘The Textbook of Urgent Care Management’ Chapter

Tracy Altemus, Executive Vice President, Healthcare Brokerage Services and Jamie Krahne, Regional Manager for Ensemble Real Estate Solutions recently collaborated on writing a chapter in “The Textbook of Urgent Care Management” by John Shufeldt M.D. J.D., MBA, FACEP. Altemus and Krahne provided their industry expertise for a chapter in the textbook titled “Building out an Urgent Care Center.”
“I was delighted that Tracy and Jamie agreed to participate in this textbook,” said Shufeldt. “Ensemble has a long history of health care leadership and their willingness to share that knowledge is axiomatic of their customer-centric approach and professionalism.”
The textbook was written as a comprehensive guide to starting, owning, operating and selling an urgent care business. In each chapter industry professionals provide perspectives on their particular area of expertise and include “10 Key Points” which highlight the most critical components of the subject matter. The textbook is meant to be a resource for those managing an urgent care business and assist them in defining a problem, creating solutions and measuring outcomes.
”Throughout our careers at Ensemble, we’ve assisted many of our clients with their build-outs,” said Tracy Altemus. “So when Jamie and I were approached about writing this chapter, we were pleased to assist in providing our insight into the best build-out practices we have observed over the years and hope that it serves as a valuable resource to those who are thinking of opening an urgent care center.”
In the “Building Out an Urgent Care Center “ chapter authored by Altemus and Krahne they detail everything involved in the process of constructing an urgent care center from timing, identifying project delivery, approval process, qualifying contractors, permitting, bidding, funding, close out and final delivery.

 

Deer Valley Medical Office Building II

Ensemble Real Estate Solutions Experiences Encouraging Growth In 2Q 2013

 

Ensemble Real Estate Solutions closed out 2Q 2013 with 59 medical office transactions totaling more than $18.9M in total lease value, representing a 38% increase in total leasing activity when compared to Ensemble’s 2012 second quarter.

With a little more than 200,000 SF in closed deals, some of the notable transactions include:

>> An 11,000 SF renewal for Obstetrix Medical Group of North America, PLLC at Rosenberg Children’s Medical Plaza on the campus of Phoenix Children’s Hospital.

>> A new 7,400 SF lease for Orthopedic Specialists of North America at Deer Valley Medical Office Building II on the campus of John C. Lincoln Deer Valley

“Despite the economic challenges of the past few years, we are seeing signs of an uptick in activity, both in terms of new space inquiries and existing tenants asking to renew their leases,” said Bill Molloy, Managing Director and CEO of Ensemble Real Estate Solutions. “The entire team is feeling positive about the outlook for 2013 and 2014.”

Moving into the second half of 2013, the company plans to begin construction on Surprise Medical Plaza Phase II. This project follows Ensemble’s first development, Surprise Medical Plaza I, on THE CITY master planned campus in the heart of Surprise, Arizona. The first phase of the project was completed in 2012 and is currently 80% leased.

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New Technology, Healthcare Reform To Shape Medical Office Of The Future

 

By William E. Molloy and Tracy Altemus, Ensemble Real Estate Solutions

With the implementation of healthcare reform and rapidly changing technology, we know healthcare is going to look very different in the near future. Will medical services be located in re-purposed strip malls?

Bill Molloy

Bill Molloy

Or, will healthcare facilities be modeled after airline terminals to provide operational efficiency, increased volume and satisfy differences in patient groups such as Baby Boomers versus the Millennials?

No one has a crystal ball to enable us to see all of the changes. However, working with one of our strategic partners, Devenney Group Ltd. Architects, we developed ideas and trends we see for the medical office of the future, the delivery of healthcare and its real estate needs.

>> What will change?

After many years of talking about the patient-centered medical home, we will finally see a broader adaptation of this model. A much more collaborative environment will encourage a multi-disciplinary (1), whole health approach to patient care. Practices will continue to join larger health systems, or develop strategic alliances among practices to meet patient needs.

Medical practices will need to comply with new healthcare delivery regulations while striving to provide high quality but cost effective care. As insurers move into care delivery, integrated billing systems and other services will need to be shared for cost efficiencies.

Technology advances will continue to impact many areas of a medical practice as healthcare practitioners use many new tools–from electronic medical records (EMR) to self-check-in kiosks to telemedicine for seeing patients.

>> What needs to change?

Retail will be the new buzz word in healthcare as consumers will “shop” for healthcare services, especially elective procedures. They will have many more choices for their healthcare so practitioners will need to focus on attracting and retaining patients. Some of the competition will come from retail companies such as Walgreens, CVS or Rite-Aid that are already aligning themselves with healthcare systems to offer services.

Healthcare practitioners and systems

Tracy Altemus

Tracy Altemus

will need to cater their services to provide a continuum of care for the life of a patient by providing convenient, easy to find and easy to use services. To satisfy some patients, this may mean providing high touch, low tech services.

Overall, healthcare providers will need to create a better patient experience — affordable elegance with a more home-like feel.

>> How will these changes affect the design and function of medical offices?

Location and physical building are big factors in a medical practice’s ability to deliver high-quality, cost effective care. One of the first steps in determining a practice’s real estate needs should be doing a cost analysis between renovating an existing building versus constructing a new facility. The analysis will help to evaluate whether renovation can be done cost effectively to comply with new regulations.

Because of the many expected changes in healthcare delivery, flexibility in design will be key. Medical practices will need modular spaces that are easily configurable. With the growing trend of sharing spaces and services, designs may include shared waiting areas for several practices, central hand-washing areas, private offices shared among physicians, and waiting areas that are used after hours for patient group visits to leverage peer support (1).

We will see fewer built-ins as interior spaces are finished so the space remains flexible. With the adoption of EMR, less space will be needed for hard files. Using the self-check-in/check-out kiosks, patients may also receive their “boarding pass” to proceed to the appropriate exam room to begin their visit — reducing the space needed for a practice’s front desk.

One of the ways that owners of medical office buildings can recoup some of their costs is by adding services that generate revenue. Adding services such as a coffee shop or daycare that can be used by staff and patients can offset some building costs.

Some physicians may choose to cater to patients who elect to pay for healthcare services themselves rather than use insurance. These patients may require more “concierge” care with separate waiting and exam areas or separate clinic entrances.

In the future, it may be very common to have hotels built near hospitals — not just for patient families but for the patients who don’t need to be hospitalized to receive recuperative care from their physicians.

Healthcare delivery is at a transformational moment. Some of the above ideas are already happening. Physicians and healthcare administrators need to be continually looking ahead to future needs for their facilities to meet the needs of their patients and comply with new regulations. They also need to continually challenge the professionals in our industry to be innovative and help them plan for their future real estate needs.

William E. Molloy is Managing Director/CEO and Tracy Altemus is Executive Vice President, Healthcare Brokerage Services, for Ensemble Real Estate Solutions (ensemblere.com). The full-service real estate firm offers healthcare-specific development, management, leasing and sales services including both landlord and tenant/buyer representation.

(1) Health Care Advisory Board “Re-envisioning Today’s Clinic”

 

Nathan Mercer

Nathan Mercer Joins Ensemble Real Estate Solutions as Marketing Manager

 

Ensemble Real Estate Solutions announced the addition of Nathan Mercer as the company’s marketing manager.

Mercer is responsible for the operations of the marketing communications department, including directing and managing the company’s strategic marketing efforts, brand development and public relation programs.

Mercer joins Ensemble following more than 12 years in commercial construction and real estate industries, most recently as an associate marketing manager with Prudential Real Estate and Relocation.

Prior to that, from 2002 to 2010, Mercer served as marketing and communications manager at Hunt Construction Group, and held previous marketing roles with design firm Ellerbe Becket and recruitment agency Real IT Resourcing in London, England.

Mercer holds a Bachelor’s degree in Journalism from the University of Nebraska- Lincoln.

 

 

Surprise Medical Plaza

Ensemble Real Estate Solutions Closes 2012 with $62.5M in Medical Office Building Deals

 

Ensemble Real Estate Solutions’ statistics for 2012 show a 43% year-over-year increase in total square footage leased and a year-end total of $62.5M in transactions.

Ensemble successfully closed 224 transactions last year, absorbing more than 1 MSF of medical office space.

“We are pleased with Ensemble’s results as the industry navigated through some uncertainty in the economy in 2012,” said William Molloy, Managing Director and CEO of Ensemble Real Estate Solutions.

“As we head into 2013 we anticipate some movement as the overall healthcare industry gains a clearer picture of the new healthcare legislation and how mandated healthcare exchanges are implemented.”

A notable company highlight of 2012 was the addition of five medical office buildings from LaSalle Investments to Ensemble’s leasing portfolio and the subsequent increase in occupancy rates from 50% to 75% in their Chandler Medical Center building.

Ensemble also successfully completed the development of Surprise Medical Plaza, with a total lease-up of 26,000 SF, and now manages and leases the property.

“Our focus in 2013 is to continue to provide and further develop our in-house expertise in the nuances of medical office building real estate,” said Tracy Altemus, Executive Vice President, Healthcare Brokerage Services for Ensemble. “The industry will see some changes in the coming year with the patient protection and affordable care act and it is our company mission to remain a trusted resource on the latest issues.

 

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Owning vs. Leasing: What's Right For Your Practice?

With low interest rates and low prices for real estate, you may be considering purchasing a medical office condo for your practice. The decision: Owning vs. Leasing.

Such an investment will have a significant impact on your practice and your personal finances so you need to consider all aspects of that decision.

Following are several key questions to ask yourself when evaluating the decision to buy or lease:

1. What are your business goals and how will a medical condo fit into your business plan?

If you think your practice will remain largely unchanged over the next 10 to 15 years, a condo purchase may work for you. However, industry averages show more than half of medical tenants require space configuration every four to seven years. Another 20 percent of medical practices relocate for various business reasons — to capture a more profitable payer, to enhance the referral pattern of their business, or to expand (or contract) their practice.

Bottom line — it’s not easy to predict how changes in the healthcare industry will impact your practice and its space needs in the future.

2. Will the real estate investment allow you to make other sound business decisions?

A condo investment is illiquid so you need to make sure the capital invested won’t be needed for other business operations and opportunities. Investing in where you practice may restrict your ability to sell the property in a strong market, or require you to move when it’s not in the best interest of your investment.

If you need to sell, who would be your buyer? Given the specialty nature of most medical tenant improvements, the potential buyer’s market for most improved medical condos is extremely limited.

If you look at most large corporations, they don’t necessarily own their office locations. Instead, they use their capital for operations.

3. Have you considered all of the costs?

As with owning a home, owning a medical condo includes more than just the loan on the building. Your total cost may include property taxes, future interior upgrades, condo-association fees, cleaning and maintenance plus any extra costs when other condo owners in your complex can’t pay their share of expenses. When you lease your office space, your total costs are spelled out in your lease agreement, allowing you to budget appropriately.

Typically, rent is only a small percentage of the operating costs for a medical practice, ranging from five to seven percent.

4. Is it a good investment?

If your practice was not occupying the medical condo, would you still invest in it?

Historically, these properties have experienced tremendous decrease in value and the increased attention on them now is being driven by unusually low mortgage rates.

Healthcare real estate can be puzzling. Each medical practice has unique needs and opportunities. Answering the questions above will help provide you with the right direction for your practice’s real estate solutions.

William E. Molloy is the Managing Director/CEO of Phoenix-based Ensemble Real Estate Solutions (ensemblere.com). He has more than 35 years of experience focusing on providing real estate solutions for healthcare providers. Ensemble is a full-service firm offering healthcare-specific development, management, leasing and sales services, including both landlord and tenant/buyer representation. Molloy can be reached at 602-443-4026 or bmolloy@ensemblere.com.

 

 

 

 

 

Ensemble Real Estate Solutions - Autumn Storm

Storm Joins Ensemble Real Estate Solutions As Healthcare Landlord Rep

Ensemble Real Estate Solutions hired Autumn Storm as the company’s Healthcare Brokerage Services Landlord Representative responsible for securing and managing landlord representation listings.

Storm brings extensive real estate experience, most recently holding an Analyst position at Lefevers Viewpoint Group Advisors where she analyzed and appraised large-scale commercial real estate projects.

Prior to Lefevers, Storm was an Analyst/Researcher with Canterra Consultants, Synthesis Development and ESI Corporation where she worked on projects such as analyzing market and financial feasibility for the redevelopment of a hotel site owned by the City of Albuquerque, conducting a comprehensive supply and demand analysis for the redevelopment of the City of Apache Junction’s downtown and analyzing the best use and financial feasibility for a redevelopment project owned by the Housing Authority of Maricopa County.

Storm’s diverse experience will bring value to Ensemble’s clients with the analyses of buy and/or lease scenarios, preparing annual property budgets, securing and managing listings, and negotiating lease rates and terms.

Storm holds a master of Real Estate Development degree from Arizona State University and became an LEED Accredited Professional in 2008.

Storm can be reached directly at (602) 385-2854 or via email at: astorm@ensemblere.com.

Canyon Springs Medical Plaza

Ensemble And Ensemble DevMan Arizona Become Ensemble Real Estate Solutions

After merging operations in 2008, Ensemble and Ensemble Devman of Arizona (formerly DevMan Company) continued to operate with slightly different names. Now, the company is united in name, becoming Ensemble Real Estate Solutions.

Ensemble Real Estate Solutions“Operating under two different names was causing confusion on who we are and what we do,” said Bill Molloy, managing director of Ensemble Real Estate Solutions. “This change better reflects our service model as a full-service healthcare real estate solutions provider.”

Ensemble Real Estate Solutions manages and services real estate assets for the healthcare industry, from concept and development through marketing, management and dispositions. It operates in Arizona, California and Nevada.

“With the medical industry going through so many changes, our clients depend on us to operate their facilities so they can concentrate on their practices and patients,” Molloy said. “We understand the challenges in managing healthcare real estate assets and look after our clients’ as if they are our own.”

As more procedures move from hospitals to medical office buildings, Ensemble anticipates the future uses and structures of medical facilities. Those facilities may potentially require stricter life safety and fire codes and more flexible designs. These buildings will need to have the flexibility of space and floorplans to grow and accommodate larger uses such as imaging and ambulatory surgical centers.

The Phoenix-based company is the result of two healthcare real estate firms joining forces in 2008. Ensemble, established in 1989, brought its expertise in development, property management and asset management. DevMan Company, established in 1981, added its complementary medical office development resume and its brokerage services platform, resulting in a company offering a comprehensive range of real estate services.

For more information on Ensemble Real Estate Solutions, visit their website at ensemblehealthcare.com