- Block Healthcare Development
- Block Multifamily Group
- Block Project Solutions
In 2012, our Healthcare Development continued to expand in an ever-changing health care environment. Our healthcare group moved into the acquisition arena and acquired five properties in Iowa, Indiana, and Missouri. Our team of specialist’s uncovered value that was locked in small medical practices and controlled by senior partners. Helping these senior partners realize their retirement goals, our team enabled the younger partners of these practices to assume control and ownership of the practice and the real estate through our resyndication of the property ownership.
Block Healthcare Development also broke ground and delivered two new medical office properties in 2012, and is positioned to move forward on several new development and acquisition opportunities in 2013.
In response to an evolving housing market, BRES strategically entered the multifamily investment and property management field in early summer 2012. We acquired an operation that was led by Bill Larson, a 35-year veteran of multifamily property management, to position this team to become a leading provider of multifamily property management services. Growth in this management portfolio will focus on third-party management business, acquiring multifamily product for our investors and institutional clients, and providing best-in-class management services to achieve the specific investment strategies desired by our clients. BMG will also pursue new developments in markets where we identify a need and a clear investment story. As of year-end, BMG’s management portfolio exceeded 1,800 units. With two new acquisitions in early 2013, and with projects under development in New Mexico and Kansas, we will continue to push toward building a management portfolio exceeding 10,000 units by year-end 2016.
Due to the unanticipated but exciting growth in our maintenance services division, we have taken the projects division of Block Maintenance Services, responsible for small self-performed tenant and landlord improvements, and separated this team from those responsible for basic building preventative maintenance and tenant response services. This change is founded in the recognition of the diverse missions these two groups pursue.
To read more click here for the KC 2013 Market Report
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