PMB Real Estate Services, a market leader in the professional management
of medical office buildings, continued its record breaking year as it
was selected by Nationwide Health Properties, Inc. (NYSE: NHP), to
manage an eight-building, 394,000 square foot portfolio in Louisiana.
The company will complete its first full month of operational management
in September. With the addition of this portfolio, PMB RES provides
services for 43 buildings totaling 2.8 million square feet in seven
states. The annual revenues of assets under management will now be in
excess of $84 million annually.
“We received proposals from many of the leading commercial property
management firms,” commented Brent Chappell, NHP’s Vice President of
Portfolio Management. “This was a very important decision for us, and we
ultimately chose PMB RES because of its track record of success and rich
history of working with hospital administration. They have clearly
mastered the unique nuances of working with medical tenants.”
To facilitate the transition, RES hired seven associates who made up the
previous management team. “We welcome our new team members in Louisiana
and look forward to building our relationship with NHP,” stated Claude
Hooton, President of PMB RES. “RES has made it a goal to maximize
ownership profits while delivering a differentiated level of tenant
service. We currently manage a number of other properties for NHP, and
they have been a tremendous partner to work with.”
RES was awarded the contract in August and began notifying tenants and
hospital administration later that month.
About PMB Real Estate Services
PMB Real Estate Services LLC, a leader in providing real estate
management solutions for healthcare, manages a portfolio of 43 medical
office buildings throughout California, Nevada, Arizona, Oregon,
Washington, Louisiana, and Hawaii. Company services include asset
management, tenant relations, tenant improvement construction,
maintenance and repairs, property accounting, and lease negotiation. PMB
RES is a wholly owned subsidiary of the healthcare developer, Pacific
Medical Buildings, and real estate investment trust, Nationwide Health
Properties, (NYSE: NHP).
About Nationwide Health Properties
Nationwide Health Properties, Inc. is a real estate investment trust
that invests in health care facilities. The Company and its joint
venture have investments in 582 facilities in 43 states. For more
information on Nationwide Health Properties, Inc., visit the Company's
website at www.nhp-reit.com.
