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THE HISTORY OF HC REALTY
James Ellis, an experienced real estate developer, and Lee Greif, a former hospital board chairman, forged a strong business relationship during the completion of numerous real estate developments throughout the 1990’s. Their initial efforts were in commercial office, industrial and multi-purpose residential projects. Ellis’ vast project management background combined with Greif’s legal and commercial banking experience produced a continuous string of broad commercial successes. With a winning track record, they soon began to focus their energies on the development of medical properties.
As the hospital industry and regulatory climate began to change, Ellis and Greif identified strategic real estate solutions to the capital challenges facing hospitals. Ellis and Greif helped hospitals throughout the country expand their medical campuses with office properties and ancillary facilities that not only improved their off-balance-sheet growth, but also enhanced physician recruitment. Ellis’ diverse development experience and Greif’s tenure as a hospital board chairman created a natural support system for beleaguered hospital management teams. They recognized the value and desirability of engaging professional private developers to design, construct, finance, lease and manage a variety of projects. HC Realty was ready to lead the way.
PHILOSOPHY
Hospitals Need a New Prescription for Success.
According to the American Hospital Association, an overwhelming majority of hospitals currently own or manage medical office buildings affiliated with their main acute care hospital. Unfortunately, most of these hospitals fail to manage their real estate profitably or even cost-effectively. In fact, by operating as landlords, many hospitals waste precious time, resources, and money that could be far better spent on their core mission – patient care.
Whether you own existing medical office buildings that are draining your resources, or plan to add new office facilities, an outside developer can help you make educated decisions about real estate development, ownership and management. With a full-service developer as a partner, hospitals across the country are realizing that they can dramatically reduce their financial and legal burdens while leveraging real estate into a vehicle for success.
HC Realty: An Outside Developer with Inside Information.
HC Realty specializes in healthcare facilities of all types. Our Principals are healthcare veterans who understand the symbiotic relationship between a physician, the hospital and its affiliated buildings. You won’t find another developer who works more closely with hospital administrators and doctors to get you out of the landlord business and back into the healthcare business.
We Take Our Investments Personally.
HC Realty’s Principals James A. Ellis and Lee H. Greif invest their own money in each medical facility they develop or acquire. They personally supervise the planning, construction, leasing and management phases to ensure their financial success and your complete satisfaction. Unlike a Real Estate Investment Trust (REIT), with multiple layers of management and a vast number of shareholders, HC Realty cultivates close, working relationships with the hospitals we serve.
Your Hospital’s Long-Term Health Is Our Top Priority.
At HC Realty, we strive to develop medical office buildings that are not only profitable but also add lasting value to the affiliated hospital. Many of our clients have enjoyed remarkable community recognition, significant fiscal growth and exceptional recruiting opportunities. Perhaps that’s why so many hospitals return to HC Realty for assistance with additional projects.
EXPERTISE
HC Realty delivers many competitive advantages that other medical facility developers cannot offer:
Real Estate Proficiency
Founder and Principal James Ellis, a proven, successful and experienced third-generation real estate developer, possesses the experience necessary to handle sophisticated transactions related to the complex healthcare industry.
Recruitment and Capital Strategies
Principal Lee Greif provides indispensable insight into the complexities of hospital operation, economics and governance. He understands the importance of working in tandem with hospitals to conceptualize effective strategies to maximize physician recruitment and capital needs.
Federal Regulations Knowledge
There are significant legal and regulatory considerations in owning and managing real estate. With attorney Lee Greif as a Principal, HC Realty offers insight into the federal government’s mandates regarding tenant/landlord relationships. Failure to comply with these regulations can result in civil and even criminal penalties.
Cost Management Experience
James Ellis has developed proven cost-cutting strategies for every phase of the healthcare realty process. We employ comprehensive space planning, standardized designs, continuous value engineering and other cost-reduction measures to keep your project on time and on budget.
National Presence
HC Realty has served as a consultant for medical facilities in every time zone across the continental United States. Through innovative software developed in-house, outsourced consultants who are the absolute best in their respective fields and knowledgeable on-staff professionals who are dedicated to your success, we are prepared to meet your every need.
TEAM
When you partner with HC Realty, you work directly with company founders James A. Ellis and Lee H Greif. Our two Principals spearhead the efforts of our on-staff professionals, as well as a select group of outside consultants. Together, they provide you with risk-free, full-service real estate development.
James A. Ellis, Principal
Jim Ellis is a third-generation real estate professional with more than 20 years of experience in residential and commercial real estate development. He is a multi-faceted entrepreneur with a passion for the complexities of successful property development and management. Over the past decade, he has focused his attention on the development of more than 30 healthcare properties nationwide.
As the Managing Partner of HC Realty, Mr. Ellis coordinates the efforts of dozens of professionals involved in acquisition, entitlement, financing, design, construction, leasing and property management. He has extensive experience with every detail of the real estate development process from concept and vision through value engineering and cost-effective property management.
Before founding HC Realty, Mr. Ellis focused his efforts on residential and commercial property development. His expertise includes large, master planned communities, built-to-suit and multi-tenant office buildings, single-family housing, golf course communities, multi-family garden and high-rise residential facilities.
Mr. Ellis is also a Managing Member of E2 Real Estate Management Services, LLC, an affiliated provider of property management services. As a developer, owner, and manager, he brings experience and a creative perspective to medical real estate.
Mr. Ellis holds a B.A. from the University of Kansas.
“Hospitals can no longer afford the time and money necessary to operate as landlords. Given the changes in federal legislation and increasing healthcare costs, there’s no doubt that placing your real estate in the hands of a reputable outside ownership entity can have tremendous benefits.” - James A. Ellis
Lee H. Greif, Principal
Lee Greif is a former Chairman of the Board for a 430-bed middle-market hospital, a successful attorney, experienced real estate developer and former banker. With more than 20 years of service in various capacities on a hospital board, Mr. Greif possesses valuable, first-hand insight into the economic, strategic and legal complexities of hospital operations.
As Chairman of the Board, Mr. Greif successfully negotiated the merger of an independent hospital into a regional hospital group while carefully maintaining its heritage, mission and traditions. He spearheaded a strategic growth plan for a medical campus, and then supervised its development. Mr. Greif has also facilitated numerous complex financial transactions with managed care companies, physician practices, and medical facilities.
Prior to his hospital career, Mr. Greif gained in-depth knowledge about healthcare legislation on a national level. He served for 10 years as Chief of Staff to two members of the United States Congress. During his tenure in Washington, D.C., Greif participated in and monitored the crafting of regulations that currently govern the relationship between a hospital and its physicians.
Lee Greif earned his undergraduate and Juris Doctorate degrees from the University of Connecticut.
“I have first-hand experience with the serious financial and physician recruitment challenges that hospitals face today.” - Lee H. Greif
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