Investing
Seavest’s significant historical investment performance is built upon two decades of medical real estate investing. The firm operates through long-term, discretionary investment funds. This source of capital is well aligned with the needs of healthcare systems, providing for stable ownership of these critical facilities. The structure also allows Seavest to be responsive to its development and operating partners and to move with certainty as it executes transactions. Once an investment is made, SHP’s in-depth experience owning, asset managing, and financing medical office buildings ensures that the firm is well positioned to build value in these specialized assets.
Approach
SHP leverages its extensive experience in the medical real estate field to deliver attractive returns to investors through acquiring and developing medical office buildings and outpatient facilities. Whether on or off a hospital campus, the firm focuses on projects that are of a strategic need to a health system. This alignment is a key tenet of Seavest’s investment strategy.
As a long standing successful investor in this market segment, Seavest maintains significant relationships with leading healthcare providers, developers and operators. The firm’s reputation and market position provide a source of unique investment opportunities. Directly and with its partners, SHP has developed new properties for and acquired existing buildings from prominent health systems across the Country.
Acquisition
SHP acquires medical office buildings located on or near thriving and well-managed hospital campuses and that are of strategic importance to the hospitals they serve. The buildings may be newer with the potential for rent growth through strong market fundamentals or in need of capital improvement and repositioning. In either case, by following a disciplined acquisition strategy Seavest provides its investors with dependable income and superior, long-term financial returns. The firm acquires properties directly or, where beneficial, with operating partners. These partners generally assume the property management and leasing responsibility, although serve at Seavest’s direction.
Development
For over 20 years, SHP has helped well performing hospitals across the United States develop medical office buildings, ambulatory surgery centers and other related outpatient facilities. To execute on these projects, Seavest either retains a development firm on a fee basis or partners with an accomplished medical office developer. With the team in place, Seavest works closely with the healthcare system to create an attractive, cost effective project that meets the hospital’s needs.
Development projects may be leased directly to the hospital or have multiple tenants. In either case, before SHP begins the project all of the entitlements must be in place and there must be a substantial level of preleasing that evidences market demand for the facility. By creating projects with this profile, Seavest seeks to receive returns commensurate with development activity while carefully managing entitlement, construction and leasing risk.
Partners
SHP provides a comprehensive capital solution for developers and operators serving the needs of healthcare providers. As strategic capital, Seavest helps its partners to compete effectively in the marketplace and to structure transactions meeting the latest market standards. SHP seeks to build long-standing, supportive relationships with its partners with the goal of mutual success. The combination of an operator or developer vested in the community combined with a strong, focused capital partner has proven to be appealing to healthcare providers.