Last year, Florida’s annual property insurance premiums soared 27% for the second year in a row. The higher premiums have become a new tax on an industry that already has had its margins squeezed. At the same time, the state’s population has been surging with aging Baby Boomers, who have filled its senior care facilities, from independent living to skilled nursing and everything in between.
The new real estate investment sponsor will provide accredited investors with private placement opportunities anchored by medical properties and will initially focus on Section 1031 exchange offerings. The firm will target HRE within secondary growth markets that exhibit strong operating fundamentals, stable health system environments, and a growing aging population.
A $100 million gift will help Children’s Health and UT Southwestern to go even further on its path towards a new $5 billion hospital campus. Construction on the new campus that will have two 12-story towers and an eight-story tower with 552 inpatient beds, begins in 2024, with a potential opening in 2031.
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