Irgens Health Care Facilities Group Launches Healthcare Real Estate Advisory Services

01.23.2008

Milwaukee – Irgens Health Care Facilities Group is a division of Irgens Development Partners, LLC (Irgens) that has been focused on offering comprehensive real estate solutions to clients in the healthcare sector since the firm was founded in 1983. On Jan. 1, 2008, the company formally launched a new initiative: Real Estate Advisory Services. This core competency complements and rounds out Irgens other service line offerings of third-party development and ownership, development management/owner representation, and asset/property management and leasing.

 

Irgens Healthcare Real Estate Advisory Services was established for two reasons. The first was that the company, which has completed hundreds of development projects totaling more than one billion dollars in real estate value, has been “informally” offering these services for 25 years. The second is that Irgens has seen significant changes in the healthcare industry where more health systems are looking for ways to preserve and extend their scarce capital and to enhance their market positioning.

 

“Many clients have sought us out over the years to consult on a number of their complicated real estate projects,” said Mark F. Irgens, Manager/President of Irgens Development Partners. “Until now we have only offered these services on a selective basis but with this new, heightened focus we are employing our most senior healthcare real estate professionals to more aggressively pursue opportunities where we can advise clients on how to maximize their real estate assets and achieve more strategic competitive market positioning.”

 

All of Irgens advisory services are tailored specifically to the client and their individual circumstance. Team members offer an objective focus and define challenges. They then create sensible, pragmatic solutions that are aimed at supporting and growing the client’s long-term competitive position in the marketplace.

 

A partial list of Irgens Healthcare Advisory Services, include:

  • Property portfolio assessments
  • Asset monetization & recapitalization consulting
  • Site search & land assembly
  • Tenant/landlord representation
  • Market & feasibility studies
  • Property acquisition
  • Market rent studies
  • Lease & expense audits
  • Building re-use analysis & disposition strategy
  • Physician alignment consulting & leasing

 

“The benefit of utilizing Irgens in an Advisory Services capacity is that during our 25 years in business, we have encountered nearly every real estate challenge imaginable,” said Mark F. Irgens who went on to explain, “We also are the owners in many real estate projects. This ownership mentality is employed to evaluate each and every opportunity whether it be for our own investor account or a project that is being completed on behalf of one of our important healthcare clients.”

 

Irgens’ goal for Advisory Services is to offer ongoing and creative real estate solutions for healthcare clients. To achieve this, senior level team members from the firm including the five principal Members will be the primary individuals assigned to projects. Additionally, Irgens has added experienced industry veterans to its staff. Most recently, Rick Ferraro, a 20-year healthcare real estate industry leader joined Irgens as Vice President with a focus on offering healthcare real estate advisory services. Ferraro had previously been with two of the nation’s largest real estate firms in a similar capacity. Ferraro is based in Irgens’ Chicago office.

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