New York Deal Making attendees will be able to tap into the fast-growing health care sector this year, thanks to the Health & Wellness Center.
The center will serve as an exclusive destination where health-and-wellness tenants meet with developers, investors, lenders, brokers and attorneys for education, networking and deal making. Here are some of the companies participating this year.
• Anchor Health Properties and an institutional equity partner recently acquired two five-level medical and commercial office buildings, totaling approximately 230,000 square feet, in the Harrison submarket of Westchester County, N.Y. Anchor Health Properties will provide property management services and oversee the significant capital improvements planned for the campus.
• BuddhaBooth founder Francine Steadman Krulak has placed her soundproof, enclosed booths at Google, Johns Hopkins, the New York City Department of Education, NYU and elsewhere and has worked with the likes of Kind Snacks and the American Heart Association.
• CVS Health announced earlier this year that it will open 1,500 HealthHub stores — remodeled drugstores that focus on health care products and services rather than such wares as greeting cards. The company opened the first three HealthHub stores in Houston, in February, and now has plans to roll out more of them, in Atlanta; Philadelphia; Tampa, Fla.; and New Jersey.
• Envoy Net Lease Partners formed a joint venture with an unnamed global private-equity firm to finance the development of multiple single-tenant, net-lease properties for a single borrower, at up to $20 million per property. The venture is one of the few that involve an institutional investor making a capital commitment to the high-leverage, build-to-suit construction-lending market, a specialty financing niche that provides up to 100 percent loan-to-cost construction financing for single-tenant net-lease properties. Envoy says it expects to originate roughly $200 million of build-to-suit construction loans over the next two years.
• H2C (Hammond Hanlon Camp LLC,) a health-care-focused strategic-advisory and investment banking firm, recently helped John Muir Health, a network of 1,000 physicians with two campuses and based in Walnut Creek, Calif., to raise nearly $45.6 million through a private placement of tax-exempt bonds.
• Intuitive Health works with health systems nationwide to build, operate and launch retail health facilities that provide urgent care and emergency services under one roof. The company is teaming up with Indianapolis-based Riverview Health to open three clinics, and with Albuquerque, N.M.–based Presbyterian Healthcare Services to open two new clinics next year.
• WellBiz Brands Inc. is a franchiser of beauty, wellness and fitness brands with about 600 units operating around the U.S. The company’s Amazing Lash Studio, Elements Massage and Fitness Together brands all ranked on Franchise Times’ annual ranking of the top-growing brands in the sector.
• Planet Fitness currently has about 14.1 million members and 1,899 stores. The company is growing in retail spaces, even snapping up space recently vacated by retrenching department stores. For example, Planet Fitness and Kohl's announced a collaboration to open nearly a dozen Planet Fitness centers adjacent to some Kohl's stores this year, with an eye toward opening more of them in the future.
By Brannon Boswell
Executive Editor, Commerce + Communities Today
