For the third consecutive year, Rendina Healthcare Real Estate has been honored in the Healthcare Real Estate Insights magazine (HREI) Insights Awards.
A group of three Rendina medical office buildings (MOBs) were selected as the winner of the “Best Renovated or Repurposed Healthcare Facility” award. Located on the campus of Clara Maass Medical Center (CMMC) in Clara Maass, New Jersey, the three MOBs total 128,006 square feet. CMMC, an RWJBarnabas Health campus, looked to Rendina for a solution that would free up capital for the hospital, enhance the campus and community, and improve overall patient and physician satisfaction.
After purchasing the MOBs from the hospital, Rendina transformed the dated facilities to modern healing environments by completely renovating all building common areas, including new lighting, flooring, paint and ceiling tiles, along with new suite doors and building entry systems. Other interior improvements consisted of new signage and directories to improve wayfinding, as well as artwork and furniture to further improve the patient experience. Rendina also enhanced building systems, including new HVAC, roof replacements, and elevator cab modernization and mechanical upgrades. Improved handicap access via new ramps and parking also increased accessibility for patients.
Since taking ownership of the MOBs, occupancy has increased nearly 10 percent and many physician groups have shifted from short-term commitments to long-term leases on the campus. This long-term loyalty to the campus is a benefit to the hospital, and the improved conditions on campus are the driving force behind these new physician commitments. Tenant ratings of “overall satisfaction” have increased 7 percent across the portfolio, according to a 2015 Kingsley Associates survey.
Richard Rendina, chairman and CEO of Rendina Healthcare Real Estate, is honored to receive another HREI award. “Our team at Rendina, in addition to RWJBarnabas and their physicians, are what made this possible,” said Rendina. “We are proud to provide the Clara Maass community with improved healing environments, and this collaborative effort being awarded by HREI is a testament to the hard work of everyone involved.”