LOS ANGELES — CBRE Group Inc. has announced plans to combine two of its valuation and advisory practices — Seniors Housing & Care and Medical Office — into a single, cohesive Healthcare Practice Group.
The property types covered by the new Healthcare Practice Group include independent living, assisted living, memory care, nursing care, continuing care retirement communities, medical office, surgical centers, outpatient rehab and hospitals. Zach Bowyer, Tom Baroch and Bennett Johnson will lead the new group.
“With an aging demographic profile in the U.S. and evolving healthcare systems, we are now seeing a greater overlap in these sectors from our clients,” said Mike Rowland, executive managing director of valuation & advisory services for CBRE. “The combined Healthcare Practice Group will allow us to gain valuable insight into the full spectrum of healthcare services.”
Over the past three years, both groups have achieved a combined 30 percent year-over-year growth in revenues. In 2016, these groups completed valuation or advisory assignments on more than 3,000 seniors housing and medical properties throughout the U.S. with an aggregate valuation of over $50 billion.