In this episode of MedChat we sit down with Shane Seitz, a Senior Investment Officer at Ventas REIT.
You can also check it out on YouTube - https://youtu.be/A-LNavfKDUY
Mr. Seitz rejoined Ventas, Inc. in 2019, after spending just over a year with CBRE Healthcare & Life Sciences Capital Markets where he formed the Debt & Structured Finance platform of their team. Before his role with CBRE, Mr. Seitz joined Ventas when they acquired Nationwide Health Properties (NHP) in 2011. Before joining NHP, Mr. Seitz was a Senior Acquisitions Associate with InSite Medical Properties, a division of The Broe Group, handling the acquisition, equity, and debt financing of their medical office building portfolio. Before joining InSite, Mr. Seitz was with Hammes Company, a national healthcare development company focusing on development, facilities planning, asset management, and asset advisory services. Mr. Seitz received a BBA in Real Estate and Urban Development and Marketing from the University of Wisconsin-Milwaukee and an MBA from the University of Colorado-Denver.
In this episode, we discuss who Ventas is, what they look for in MOB investments, why healthcare real estate differs from other property types, capital issues, the need for behavioral health facilities, private equity, and what is working and not working in healthcare.
0:00 - 2:58 - Opening and books/articles Shane is reading (he does not have time for reading but likes to skim Fine Home Building. And although he does not give us the brand, other than they were $30, his favorite recent purchase is earbuds he bought at Best Buy.
3:04 - 5:31 - Shane's intro to real estate and medical office buildings
5:32 - 8:05 - Intro to Ventas & what they do
8:06 - 16:32 - Why healthcare real estate as an investment class? Why does it still make sense to invest in these facilities when hospitals are facing such economic headwinds
16:33 - 20:30 - What are a few capital issues, and solutions for health systems
20:31 - 24:00 - How does Ventas raise capital and structure their capital stack
24:01 - 32:26 - Behavioral health and its place in the healthcare continuum
32:27 - 35:00 - What is the new new thing in healthcare real estate? Where is the yield?
35:01 - 40:00 - What is working and what is not working in healthcare
40:01 - 47:00 - Private equity in healthcare
47:01 - 54:06 - Wrap up and summary, and a few random thoughts
54:06 - Closing remarks
