Realty Trust Group Advises Broward Health on Ambulatory Facility Development Projects
“Prior to these projects, Broward Health has not developed a new on campus MOB in over 25 years. RTG has been a long-term partner for Broward Health and guided us through the process – bringing industry expertise and representing Broward’s interests throughout the process.”
David J. Clark, FACHE
Senior Vice President of Operations
Broward Health recently broke ground on two on-campus medical office buildings totaling over 300,000 square feet and representing a $260 million investment. The developments – including a 188,000 square foot medical office building and 700-space parking garage at Broward Health Medical Center and a second 114,000 square foot medical office building at Broward Health North – support growing outpatient demand while preserving health system capital and long-term control of key on-campus assets.
Realty Trust Group (RTG) served as strategic and financial advisor throughout the process, initially guiding Broward Health through the evaluation of alternative development and financing structures, then facilitating a competitive third-party developer selection process, and representing Broward Health in the negotiation of both transactions.
Both projects are being delivered under a public-private partnership (P3) structure jointly with Remedy Medical Properties as the developer and The Centurion Foundation as the project owner and financing partner. Upon satisfaction of the financing obligations, ownership of both buildings will revert to the health system.
This integrated delivery approach supports key objectives of the health system’s nonprofit mission by enabling efficient project delivery while balancing speed to market with favorable project economics and long-term operational control.
“In partnership with Broward, the team achieved an innovative development model that combines project delivery expertise and cost-effective capital, making it an attractive solution for nonprofit health systems seeking to deliver major projects without compromising liquidity or mission alignment,” said Michael Honeycutt, Executive Vice President with Realty Trust Group.
“Prior to these projects, Broward Health has not developed a new on-campus MOB in over 25 years. RTG has been a long-term partner for Broward Health and guided us through the process – bringing industry expertise and representing Broward’s interests throughout the process,” said David J. Clark, FACHE, Senior Vice President of Operations for Broward Health.
Through this structure, Broward Health will deliver two mission-critical facilities totaling over $260 million in new on-campus investment while leveraging third-party capital, maintaining near term property tax exemptions, and preserving long-term capital for strategic growth initiatives.
Download RTG’s white paper, Accessing Capital Through Healthcare Real Estate, to explore proven strategies that help health systems unlock capital, improve financial flexibility, and align real estate decisions with enterprise objectives.
To learn more about Realty Trust Group, visit www.realtytrustgroup.com.
Realty Trust Group, LLC (RTG) is a national leader in providing comprehensive real estate solutions for the healthcare industry. Since 1998, we have worked alongside healthcare leaders to leverage real estate as a strategic asset helping to save money, manage risks, create physician alignment, and increase market share. At RTG we lead with an advisory-first approach, delivering innovative strategies and operational best practices that help healthcare leaders optimize their real estate portfolios. Our services span advisory, development, transactions, operations, and regulatory compliance, allowing us to tailor solutions for specific projects or provide long-term portfolio management.