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Author: Brian Butler

Rendina and PAM Health Celebrate Grand Opening of PAM Health Rehabilitation Hospital of Jupiter

Posted on by Brian Butler

Jupiter, FL | June 12, 2023

Rendina Healthcare Real Estate and PAM Health celebrated the grand opening of PAM Health Rehabilitation Hospital of Jupiter, a new inpatient rehabilitation facility designed to expand access to specialized post-acute care services for residents of Palm Beach and Martin counties.

Located in Jupiter, Florida, the 48,000 square foot facility is a 42-bed inpatient rehabilitation hospital offering comprehensive medical and rehabilitative services. The hospital provides physical therapy, occupational therapy, speech therapy, and additional specialized programs delivered by a multidisciplinary team focused on personalized care and improved patient outcomes.

Rendina served as the developer of the project, leading the real estate strategy, planning, design coordination, and construction execution in collaboration with PAM Health.

“We are proud to celebrate the opening of PAM Health Rehabilitation Hospital of Jupiter, which reflects our commitment to creating exceptional healthcare environments,” said Richard M. Rendina, Chief Executive Officer of Rendina Healthcare Real Estate. “This facility addresses a critical need for inpatient rehabilitation services in the region, and we were honored to partner with PAM Health to bring this important resource to the community.”

The facility features a patient centered design that prioritizes comfort, privacy, and convenience. Highlights include spacious patient rooms, advanced rehabilitation gymnasiums, and state of the art therapy equipment designed to support recovery and enhance the overall patient experience.

The development was made possible following Florida’s repeal of certificate of need requirements for rehabilitation hospitals in 2021, enabling PAM Health and Rendina to address an unmet demand for inpatient rehabilitation services in the community.

With nearly four decades of experience, Rendina continues to partner with healthcare providers nationwide to deliver facilities that promote healing, foster innovation, and strengthen access to care.

Rendina Wins Best Places to Work in Healthcare 2023 – Fifth Consecutive Year

Posted on by Brian Butler

Chicago, IL | June 7, 2023

Rendina Healthcare Real Estate has been recognized by Modern Healthcare as one of the 2023 Best Places to Work in Healthcare, earning national recognition for its workplace culture, employee engagement, and commitment to organizational excellence.

The annual Best Places to Work in Healthcare program honors outstanding employers across the healthcare industry that demonstrate a strong focus on supporting employees amid evolving workforce challenges. The complete list of 2023 honorees is available at ModernHealthcare.com, with a ranked list published in a special supplement accompanying the October 2, 2023, issue of Modern Healthcare magazine.

“An uncertain economy, staffing shortages, and increasing demand for flexibility and remote work opportunities are forcing every business in the industry to focus on attracting and retaining talent in unprecedented ways,” said Dan Peres, President of Modern Healthcare. “The 2023 Best Places to Work winners proved the value of understanding what employees want and need today. Taking care of employees is central to long term business success.”

Rendina’s recognition reflects the firm’s continued investment in its people and workplace culture, grounded in collaboration, professional growth, and shared Core Values. The company remains focused on creating an environment where employees feel supported, engaged, and empowered to deliver excellence for clients and partners nationwide.

“This recognition is a testament to the dedication and professionalism of our team,” said Richard M. Rendina, Chief Executive Officer of Rendina Healthcare Real Estate. “Our people are the foundation of our success, and we are proud to foster a culture that values teamwork, accountability, and continuous improvement.”

The Best Places to Work in Healthcare program is conducted in partnership with Workforce Research Group and is based on a comprehensive assessment process that includes independent employee surveys evaluating workplace satisfaction, engagement, and organizational practices.

Honorees were formally recognized at the 2023 Best Places to Work in Healthcare Awards Gala, held September 28, 2023, in Chicago.

Rendina Healthcare Real Estate and Baptist Memorial Healthcare Celebrate Grand Opening of Baptist Arlington Emergency Department

Posted on by Brian Butler

Arlington, TN | January 31, 2023

Rendina Healthcare Real Estate and Baptist Memorial Health Care celebrated the grand opening of the Baptist Arlington Emergency Department, a new freestanding emergency department and medical office building located in Arlington, Tennessee. The project represents Baptist Memorial Health Care’s first freestanding emergency department in West Tennessee and the first of its kind in Shelby County.

Located at 5150 Airline Road, the approximately 38,000 square foot facility includes a freestanding emergency department and medical office space supporting primary care, imaging, and specialty services. The eight room emergency department is a department of Baptist Memorial Hospital–Memphis and is open 24 hours a day, seven days a week. On site services include laboratory testing, X ray, ultrasound, and CT imaging to support timely diagnosis and treatment.

More than 100 medical and clinical staff members, community leaders, elected officials, and hospital supporters attended the grand opening celebration, which included a ribbon cutting ceremony and guided tours of the new facility. The emergency department began accepting patients shortly after the event. Primary and walk in care services through Baptist Medical Group were scheduled to begin February 1, with additional physician practices opening later in 2023.

Rendina served as the developer and owner of the facility, leading the real estate strategy, development, and delivery of the project. The building was designed by E4H, with construction management services provided by Flintco Construction.

“Rendina is proud to partner with Baptist Memorial Health Care on its expansion efforts across Tennessee,” said Richard M. Rendina, Chief Executive Officer of Rendina Healthcare Real Estate. “The Baptist Arlington facility is a key component of an advanced ambulatory strategy that meets today’s emergency and primary care needs while providing flexibility to expand alongside one of the region’s fastest growing communities.”

The facility features eight patient treatment rooms, comfortable waiting areas, a trauma treatment space, an isolation room for patients with potentially infectious diseases, a decontamination room, and a private triage room for initial evaluations. Care is provided by a highly trained emergency medicine and nursing team, serving both adult and pediatric patients.

Conveniently located near Interstate 40, Baptist Arlington Emergency Department improves access to emergency care for residents between Bartlett and Jackson, Tennessee, filling a critical gap in hospital-based services across the region.

Rendina and RWJBarnabas Health Celebrate Grand Opening of Anne Vogel Health and Wellness Center

Posted on by Brian Butler

Eatontown, NJ | 2023

Rendina Healthcare Real Estate and RWJBarnabas Health celebrated the grand opening of the Anne Vogel Family Care and Wellness Center, a four story, 82,000 square foot Class A medical and wellness facility located in Eatontown, New Jersey. The center expands access to comprehensive pediatric, women’s, and family focused healthcare services in Monmouth County and supports RWJBarnabas Health’s continued commitment to delivering care closer to home.

Located on Wyckoff Road in a prominent retail setting near the Monmouth Mall, the Anne Vogel Family Care and Wellness Center was designed to bring a wide range of clinical services, wellness programs, and community education together in a single, convenient location. The facility houses services offered by Monmouth Medical Center and Children’s Specialized Hospital, both part of New Jersey’s largest integrated health system.

Rendina served as the developer of the project, leading the real estate strategy, planning, design coordination, and construction execution in close collaboration with RWJBarnabas Health.

“This facility reflects a shared vision to improve access to high quality care for women, children, and families throughout the region,” said Richard M. Rendina, Chief Executive Officer of Rendina Healthcare Real Estate. “The Anne Vogel Family Care and Wellness Center brings together specialized medical services and wellness resources in a modern environment that supports both clinical excellence and community engagement.”

The center offers a broad spectrum of healthcare services, including pediatric subspecialty care, women’s services, urgent care, laboratory services, mental and behavioral health programs, and comprehensive therapy services provided by Children’s Specialized Hospital. The facility also includes a commercial grade demonstration kitchen and wellness education space featuring programs from the Dorothea and Jon Bon Jovi Nutrition Education initiatives, reinforcing a holistic approach to health and wellbeing.

“We were proud to partner with Rendina on a facility that significantly expands access to exceptional care for women and children while also offering important wellness and education resources for the entire community,” said Eric Carney, President and Chief Executive Officer of Monmouth Medical Center and Monmouth Medical Center Southern Campus. “This center represents an important investment in the long-term health of the families we serve.”

Named in honor of Anne Vogel, the facility reflects the impact of philanthropy in advancing community focused healthcare. The Anne Vogel Family Care and Wellness Center stands as a model for integrated, patient centered care delivery and underscores RWJBarnabas Health’s ongoing commitment to innovation, access, and wellness across New Jersey.

Rendina Healthcare Real Estate Names John Fry Senior Vice President, Acquisitions

Posted on by Brian Butler

JUPITER, Fla.

Rendina Healthcare Real Estate, a national leader in healthcare real estate development, has appointed John Fry as Senior Vice President of Acquisitions. In this new role, Mr. Fry will oversee the company’s national acquisition platform.

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John Fry comes to Rendina from Remedy Medical Properties, one of the largest owners of healthcare properties in the country. At Remedy, Mr. Fry was responsible for the acquisition of more than $1.9 billion on in medical office properties, totaling more than 4.3 million square feet.

Mr. Fry’s previous experience also includes working as an Investment Broker and Senior Analyst at Marcus & Millichap in Chicago, IL.

Mr. Fry has a Bachelors of Business Administration and an MBA from Western Michigan University.

Rendina, Astrea Development and PAM Health Celebrate Construction Start of Rehabilitation Hospital in Jupiter

Posted on by Brian Butler

JUPITER, Fla.

Rendina Healthcare Real Estate and Astrea Development recently began construction on a 42-bed licensed inpatient rehabilitation in Jupiter. Located in a desired section of Jupiter known as Abacoa, the 48,941-square-foot facility will be across the street to the south of Rendina’s headquarters on approximately 5 acres of land. The hospital will be fully leased and operated by PAM Health (“PAM”), an industry leading operator of physical rehabilitation and specialty hospitals across the country.

The hospital will serve patients in the Palm Beach and Martin County regions by offering inpatient and outpatient programs, a procedure room, pharmacy, physical therapy, occupational therapy and speech therapy. Once open and operating, PAM will employ over 100 full-time and 60 part-time employees at this location.

A thorough study of the market, including a bed need analysis, was used to identify the ideal location for the new hospital.

Astrea CEO Erik de Vries and President Richard Fiske have a successful track record developing similar facilities and brought the opportunity to Rendina in 2020. Richard Fiske is a longtime member of Rendina’s Advisory Board.

The hospital is expected to open in Q4 of 2022.

About PAM HEALTH

Based in Enola, Pennsylvania, PAM Health provides healthcare services in 17 states through more than 60 long-term acute care hospitals and inpatient medical rehabilitation hospitals, as well as 18 locations that also provide outpatient therapy. PAM is committed to providing high-quality patient care and outstanding customer service, coupled with loyalty and dedication of highly trained staff, to be the most trusted source for healthcare services in every community it serves. Learn more at PAMHealth.com.

Rendina Executives Share their Expertise at the 2021 BOMA Healthcare Real Estate Conference

Posted on by Brian Butler

Richard Rendina, Chairman & CEO of Jupiter-based Rendina Healthcare Real Estate, and Steve Barry, President of Rendina, shared their expertise on two educational panels at the 2021 BOMA International’s Medical Office Buildings (MOBs) + Healthcare Real Estate (HRE) Conference Nov. 1-3 in Dallas at the Omni Dallas Hotel.

The importance of relationships and the impact of inflation

“The CEO Perspective” panel discussed a wide range of topics, including the state of the industry, capital market trends, and opportunities and challenges in the dynamic HRE space. The panelists also discussed how the COVID-19 pandemic has impacted the industry.

“I think our business is really a relationship business, and going through COVID with our clients has given us the opportunity to enhance those relationships. In some instances it’s given us the opportunity to learn more about their strategy, how they are looking at the market, where they have gaps in the marketplace, and how we can help them fill those gaps.”

He continued, “I would say it really started with the Affordable Care Act when hospitals were looking to invert their revenue stream to be 60 percent outpatient instead of 60 percent inpatient. Now with COVID, I think they’ve all taken a step back and really want to evaluate their outpatient holdings – where they have offices, where they have ownership. Any opportunities we have to help hospitals and health systems with this is great for us.”

The panel also discussed inflation.

The effects of telehealth, COVID and rising development costs

The “Development Trends” panel discussed how the continuous evolution in the HRE industry has been accentuated because of COVID-19 and how health systems and developers are adapting to those changes. One important topic was the increase in telehealth.

The panelists also discussed rising costs in the HRE sector.

Mr. Barry said, “We’re seeing increased technology capabilities in buildings, including remote monitoring and virtual technologies. We’re looking at the requirement for more flexible spaces or multi-purpose spaces to be able to accommodate uncertainty in the future. When we list all those things off, I don’t think that’s a less expensive building. I think those are more expensive buildings as opposed to the more straightforward MOB or outpatient facility of the past. So the next question is how we in this current construction environment can deliver these facilities cost efficiently.”

Rendina Healthcare Real Estate Forms Strategic Joint Venture with Artemis Real Estate Partners to Grow $1 Billion MOB Portfolio

Posted on by Brian Butler

Artemis Recapitalizes 6 Properties with Rendina to Seed New JV for Development and Acquisition of MOBs Nationwide

Newmark announces that it has arranged a strategic joint venture seeded by a national MOB portfolio recapitalization. Rendina Healthcare Real Estate “Rendina” is a leading, national medical office development and acquisition platform, fully integrated with development, ownership, management and leasing capabilities. A pioneer in the healthcare real estate development sector, Rendina has developed more than 8.5 million square feet during its 35-year history. This transaction marks an inflection point in the growth of the company as the firm partners with Artemis Real Estate Partners (“Artemis”), an institutional investment manager that focuses on equity and debt investments in healthcare real estate across the United States.

Rendina and Artemis have entered into a joint venture to develop and acquire a national portfolio of healthcare properties. The venture was seeded with the recapitalization of six properties developed by Rendina. The nearly 230,000 square foot portfolio spans four states, with concentration in the Northeast, and is leased to some of the leading healthcare systems and physician group practices in the country. The joint venture will immediately invest in an additional 140,000 square foot medical office development, followed by a near-term development and acquisition pipeline.

Newmark’s Healthcare Capital Markets Group represented Rendina on the portfolio recapitalization, advised Rendina and Artemis on establishing the joint venture, and secured the acquisition and development financing. The transaction was led by Newmark Executive Managing Director Ben Appel, Senior Managing Directors Jay Miele and Michael Greeley, Managing Director John Nero, and associates Ron Ott and Adam Goss of the firm’s National Healthcare Capital Markets Group.

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Healthcare Real Estate Insights: Rendina Healthcare Real Estate Forms Strategic Joint Venture with Artemis Real Estate Partners

Rendina and Baptist Memorial Health Care Celebrate Groundbreaking on 38,000 SF Freestanding ER & MOB in Arlington, TN

Posted on by Brian Butler

Jupiter, Florida

Officials from Rendina Healthcare Real Estate (“Rendina”) and Baptist Memorial Health Care (“Baptist”) gathered recently to celebrate breaking ground on the site of a new 38,000-square-foot Freestanding Emergency Department (“FSED”) and Medical Office Building (“MOB”) in Arlington, Tenn. Rendina, a national, full-service developer of healthcare real estate, will own the building.

The site will include Baptist Medical Group primary care offices, a medical imaging center, and a freestanding emergency department that will be the first of its kind in Shelby County.

The eight-room freestanding ER is a department of Baptist Memorial Hospital-Memphis and will have laboratory, X-ray, ultrasound and CT services. The ER will be open 24 hours a day.

Baptist selected Rendina Healthcare Real Estate as the property developer in February 2021 and Flintco Construction for construction management and services. E4H is the architectural design firm for the facility.

Construction is set to end and Baptist Arlington Freestanding Emergency Department to open in late summer/early fall 2022.

For Third Consecutive Year, Rendina Named one of the Best Places to Work in Healthcare

Posted on by Brian Butler

Jupiter, Fla.

Rendina Healthcare Real Estate, a national leader in healthcare real estate development, has been selected by Modern Healthcare as one of the 2021 Best Places to Work in Healthcare. The award, which is based on an assessment process that includes employee surveys conducted by an independent third-party, recognizes outstanding employers in the healthcare industry nationwide. The complete list of this year’s winners, in alphabetical order, is available at ModernHealthcare.com/bestplaceslist. Modern Healthcare will publish a special supplement featuring a ranked list of all the winners along with the September 20 issue of MH.

“One year into the pandemic, we’ve seen the industry transform to meet the needs of its patients and employees,” said Aurora Aguilar, Modern Healthcare’s editor. “Time and time again, the most resilient and successful organizations show that empathy towards their staff, clear vision and compassion towards the patient buoys teams and sets them up for success. We congratulate the Best Places to Work in Healthcare for eliciting loyalty from their workforce and communities during harrowing times.”

This award program identifies and recognizes outstanding employers in the healthcare industry nationwide. Modern Healthcare partners with the Best Companies Group on the assessment process, which includes an extensive employee survey.

Modern Healthcare will announce the official rankings at the 2021 Best Places to Work in Healthcare awards gala taking place on September 16 at the Radisson Blu Aqua Hotel Chicago. Information on the award gala and conference is available at ModernHealthcare.com/BestPlacesGala.