PMB Wins Big With Three 2019 HREI Awards™ for Medical Developments in Arizona and California
SAN DIEGO–PMB was the big winner this year, becoming the first organization to have three winning healthcare real estate (HRE) development projects in a single year in the prestigious, national HREI Insights Awards™ program.
The PMB winners were: 1100 Van Ness, San Francisco, in the Best Medical Office Building (MOB) 100,000 or more square-foot category; Clinicas de Salud El Centro Health Center, El Centro, CA, in the Best MOB 25,000-49,999 square-foot category; and Goodyear Medical Plaza, Goodyear, AZ, in the Best Renovated or Repurposed Healthcare Facility category.
The annual awards, the first exclusively dedicated to recognizing excellence in the areas of HRE development and executive leadership, are presented by Healthcare Real Estate Insights™ (HREI) magazine, a national digital and print magazine that covers HRE development, financing and investment. The awards were presented in nine categories during the GlobeSt Healthcare Conference in Scottsdale, AZ, Dec. 4.
“We are thrilled that the three healthcare development projects PMB entered in this year’s HREI awards were selected winners,” said Mark D. Toothacre, President of PMB. “We’re proud of the PMB team, which exhibited a great deal of creativity and determination to overcome a number of obstacles and deliver these much-needed medical facilities to their respective communities. These three awards are a great honor and a testament to our team’s hard work.”
The 250,000-square-foot, nine-story 1100 Van Ness facility is the first new multitenant MOB constructed since the 1980s in the highly competitive and regulated real estate market in San Francisco. The building is in a prime central location across the street from the new 274-bed California Pacific Medical Center and affords easy access to major San Francisco neighborhoods. The facility has enabled Sutter Health to better serve the growing population and comply with new California seismic building codes. The MOB and Sutter’s new master plan are allowing the health system and other private practices in the facility to consolidate multiple offices and services, which is decreasing their overall footprint and increasing practice and delivery efficiencies.
Murray Wolf, Publisher of HREI magazine, said the HREI Awards judges had a number of positive comments about PMB’s three winning entries, especially the 1100 Van Ness project.
“One of the judges said that 1100 Van Ness was the most complicated project of this year’s competition,” said Wolf. “Another judge said, ‘A once-in-a-career project in terms of scope, complexity, size and quality. An epic development process and schedule in a great American city. This one has got to be the hands-down winner!’”
The new 45,000-square-foot Clinicas de Salud del Pueblo El Centro Health Center (Clinicas) was needed to expand healthcare services and access for the medically underserved, low-income community of El Centro, CA, and the greater Imperial Valley. The new clinic also provides a much needed location for local students to complete their medical training/internship programs. PMB arranged for Federal New Markets Tax Credits (NMTC) to help finance the new MOB with 100 percent of the NMTC benefit going to Clinicas. The new MOB is enabling Clinicas to launch new services, including pharmacy, dental and ophthalmology, create 152 new permanent jobs and increase patient capacity by 85 percent.
One HREI Awards judge said of the Clinicas project, “Kudos for delivering such a nice project to an underserved rural area.” Another judge echoed that sentiment: “Love the concept of using New Market Tax Credits and building in underserved areas.”
The Goodyear Medical Plaza in Goodyear, AZ, was a challenging adaptive reuse project in which PMB converted the outdated, 1980s former Harkins Palm Valley movie theater into a modern, state-of-the-art medical facility. The new 50,000-square-foot MOB is allowing Abrazo Medical Group, an employed physician group for Phoenix-based Abrazo Community Health Network, to expand in the marketplace and serve the rapidly growing population. It also is enabling the physician group to provide additional office space for its newly recruited physicians. PMB brought the repurposed facility to market approximately 50 percent faster than a traditional ground-up construction project, allowing Abrazo to expeditiously reduce its physician shortage in the market.
The HREI judges were equally complementary about the Goodyear Medical Plaza. One noted, “Great reuse of a unique building.”
PMB-developed projects have been named finalists a total of 11 times and winners seven times in the seven years of the HREI awards.
PMB’s mission is to improve healthcare delivery, effect change and positively impact communities. As a healthcare real estate developer focused on the continuum of care—from community-centric health and wellness to health-focused seniors housing, outpatient, inpatient and post-acute care—PMB has developed over 100 facilities to date representing approximately 5.5 million square feet. The firm owns and manages 66 medical facilities comprising over 4.2 million square feet.