Pinecroft Realty

What Pinecroft Realty does

Pinecroft Realty (legal entity: RRC Medical Real Estate, LLC) is a privately held, healthcare-focused commercial real estate firm headquartered in The Woodlands, Texas (suburban Houston), founded in 2003 by Tom Pisula and currently led by his brother Jim Pisula (President & CEO since April 2023). The company is vertically integrated across the full healthcare real estate lifecycle through three operating entities: RRC Medical Real Estate LLC (parent), Pinecroft Realty LLC (leasing and brokerage), and Pisula Development Company (development and construction management). The platform manages 62 owned and managed properties totaling approximately 2.47 million square feet across Texas, Colorado, Arizona, and Pennsylvania, and has completed or acquired 90+ projects representing $2.5 billion in cumulative real estate transactions, with $850 million specifically in healthcare.

Service offerings span property and facilities management, leasing and brokerage, asset management, acquisitions and investment advisory, and ground-up development and construction management. The company does not operate a proprietary technology platform; operational technology is limited to third-party SaaS tools including Angus Anywhere (tenant work orders), SecureCafe3 (tenant payments), and Matterport (virtual tours). Anchor tenant relationships include major health systems such as CHI St. Luke's Health, Memorial Hermann, Houston Methodist, Texas Children's Hospital, MD Anderson Cancer Center, OakBend Health, Centura Health, and Thomas Jefferson University Hospital. Capital partners include Harrison Street Real Estate (recurring JV counterparty), Capital One, Simmons Bank, First Citizens Bank, Seven Hills Realty Trust, and HFF/JLL/CBRE as capital markets advisors.

The revenue model combines professional services fees (development, leasing commissions, asset management), managed services revenue (property management fees), and transaction fees (acquisition advisory and disposition). Client base spans individual physician owners to national private equity groups and publicly traded healthcare REITs. Distribution is sales-led via direct enterprise relationships and a third-party broker network, with the company operating as a family-controlled, self-funded entity that has not raised external private equity or venture capital.

Name

Pinecroft Realty

Legal name

RRC Medical Real Estate, LLC

Website

https://pinecroftrealty.com

Company type

Private

Founded year

2003

Operating status

Operating

Headcount range

11–50 employees

Short description

Pinecroft Realty is a healthcare-focused commercial real estate firm in The Woodlands, Texas, providing vertically integrated development, leasing, property management, asset management, and acquisition services for medical office buildings, micro-hospitals, and healthcare facilities across Texas, Colorado, Arizona, and Pennsylvania.

Ownership category

akta.pro rank

Product category

Healthcare Commercial Real Estate Services

NAICS

Offices of Real Estate Agents and Brokers (53121), Real Estate Property Managers (53131), Portfolio Management and Investment Advice (523940), Lessors of Other Real Estate Property (53119)

SIC

Real Estate Agents & Managers (For Others) (6531), Real Estate Dealers (For Their Own Account) (6532), Investment Advice (6282)

akta.pro primary industry

Healthcare & Medical Office Brokerage (BPAJABAF)

akta.pro secondary industries

Real Estate Strategy & Portfolio Consulting (Corporate/Institutional) (BPAJANAB), Commercial Real Estate Brokerage (Leasing & Sales) (FSAEAJAB), Property Management Advisory & Leasing Administration (FSAEAJAN)

Keywords

• Healthcare real estate
• Medical office buildings
• Commercial property management
• Real estate development
• Asset management services

Headquarters

HQ city

The Woodlands

HQ country

United States

HQ region

North America

Offices5 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. Development & Construction Management Fees: Pisula Development Company, the development and construction division, earns fees for ground-up development projects. Since inception, PDC has directed over 55 ground-up development projects totaling 2.8 million square feet of office, medical office and retail space, creating over $450 million in value.
2. Property and Facilities Management Services: RRC delivers management services to clients ranging from privately held single asset owners to national private equity groups and publicly traded healthcare REITs. Services include tenant relationship management, lease administration, accounting and financial reporting, operating budgets, vendor contracts, project management, and engineering services.
3. Leasing and Brokerage Services: Pinecroft Realty, the leasing division of RRC Medical Real Estate, represents both building owners and tenants. Since formation in 2003, they have completed approximately 2.5 million square feet of office, medical office, and retail leasing transactions.
4. Acquisition and Investment Advisory: The company deploys investment strategies to meet objectives of equity partners including publicly traded REITs, private equity groups and high net worth individuals. Services include project acquisition targeting, investment underwriting, market studies, due diligence review, and closing coordination.
5. Property Disposition/Asset Sales: The company generates revenue through property sales as part of joint ventures. Examples include selling 10 medical properties totaling $142.3M to a Canadian REIT as part of a larger portfolio transaction.

Go-to-market motion1 record

Distribution channels4 records

Marketing channels6 records

Core offering

Pinecroft Realty is a healthcare-focused commercial real estate firm that delivers development, leasing, property and facilities management, asset management, and acquisition/investment advisory services. Through its Pinecroft Realty LLC (leasing) and Pisula Development Company (development and construction) divisions, it serves health systems, physician groups, and institutional investors across Texas, Colorado, Pennsylvania, and Arizona.

Product overview

RRC Medical Real Estate LLC (operating as Pinecroft Realty) is a full-service commercial real estate firm headquartered in The Woodlands, Texas, specializing in healthcare real estate development, investment, and management. The company's integrated service platform consists of five core offerings: (1) Property and Facilities Management, (2) Leasing and Brokerage Services (via Pinecroft Realty LLC), (3) Asset Management, (4) Acquisitions & Investment, and (5) Development & Construction Management (via Pisula Development Company). The company manages a portfolio of over 2.5 million square feet across approximately 62 owned and managed properties, and has completed or acquired over 90 projects totaling more than 2.5 million square feet in Texas, Colorado, Pennsylvania, and Arizona, with approximately $2.5 billion in completed real estate transactions. The property portfolio encompasses medical office buildings (MOBs), freestanding emergency departments (FSEDs), micro-hospitals, skilled nursing facilities, retail and shopping centers, and general commercial office buildings. The company's flagship properties include Medical Arts Center III and IV, Sugar Land Medical Plaza, Six Pines I/II/III, Grand Parkway MOB, and multiple micro-hospitals across Arizona.

Differentiator

Problem solved

Functional benefit

Products and services

• Property and Facilities Management Full-service property and facilities management for clients ranging from privately held single-asset owners to national private equity groups and publicly traded healthcare REITs. Includes tenant relationship management, lease administration, customized accounting and financial reporting, operating and capital budget development, vendor sourcing, contract negotiation, project management, and engineering services.
• Leasing and Brokerage Services (Pinecroft Realty) Commercial property leasing division representing both building owners and tenants, covering approximately 2.5 million square feet of office, medical office, and retail transactions. Services include targeted advertising and marketing, lease negotiation and administration, market analysis and forecasting, agency services, and tenant advisory services.
• Asset Management Asset management program focused on maximizing property value and investment returns while mitigating risk. Includes investor reporting, lender reporting, covenant compliance, project finance origination, financial analysis, risk management, and project sale facilitation.
• Acquisitions and Investment Acquisition and investment services deploying investment strategies for equity partners including publicly traded REITs, private equity groups, and high net worth individuals. Targets development and acquisition opportunities across asset classes and risk profiles, with services including acquisition targeting, investment underwriting, market studies, due diligence review, and closing coordination.
• Development and Construction Management (Pisula Development Company) Development and construction division directing ground-up development projects across medical office buildings, hospitals, surgery centers, freestanding emergency rooms, retail, and restaurant construction. Services include site selection and acquisition, project due diligence, equity sourcing, design and construction team selection, and oversight of design and construction through completion.

Quantifiable outcome

• Completed $2.5 billion in real estate transactions including $850 million in healthcare
• +4 more outcomes

Named customers15 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration3 records

Partnerships

Three partnerships are on record, tiered minor and major.

• City of Idaho Springs and Clear Creek CountyminorStrategic or Co-development Partner · 16 October 2020Joint development partnership for Idaho Springs Collaborative Care Clinic. The $7.5 million, 12,732 SF clinic is owned by the county and funded through grants from Colorado Department of Local Affairs, Colorado Health Foundation, El Pomar Foundation, and Freeport McMoRan.
• CBREmajorImplementation/ SI/ Consulting Partner · 30 August 2019Represented seller St. Lukes Episcopal Health System Corp in Sugar Land Medical Plaza acquisition. CBRE team included Shane Seitz, Chris Bodner, Lee Asher, Ryan Lindsley and Sabrina Solomiany.
• JLL (Jones Lang LaSalle) Healthcare Capital Markets GroupmajorImplementation/ SI/ Consulting Partner · 2 June 2016Represented seller in Imperial Medical Center sale to Pisula/Harrison Street JV. JLL Healthcare Capital Markets Group serves as exclusive advisor for healthcare real estate transactions.

Scale indicators16 records

Recent moves7 records

Expansion highlights2 records

Direct peers

• Hammes Partners: Healthcare-focused real estate consulting, development, and asset management firm serving health systems, physicians, and institutional investors — overlap with Pinecroft's full-service healthcare real estate model.
• Anchor Health Properties: Specialized healthcare real estate developer and manager focused exclusively on MOBs, outpatient facilities, and wellness centers — directly comparable in asset class, tenant base, and service mix.
• Pacific Medical Buildings: Specialized healthcare real estate firm developing, owning, and managing MOBs and outpatient facilities for health systems and physician groups, with a development and property management service model closely parallel to Pinecroft's.
• NexCore Group: National healthcare real estate development and investment firm specializing in MOBs, ambulatory care, and specialty hospitals. Pinecroft CEO Jim Pisula was a co-founder, making it the closest operational and cultural comparable.

Broad incumbents

• Medical Properties Trust: Public REIT focused on acute care and general hospitals globally. Less direct overlap on MOBs, but competes for healthcare real estate investor capital and developer relationships in adjacent healthcare property segments.
• Healthpeak Properties: Large publicly traded healthcare REIT with significant MOB and outpatient medical portfolio. Sets competitive benchmarks for cap rates, lease structures, and acquisition pricing in the same asset class as Pinecroft.
• Welltower: Largest healthcare-focused REIT with senior housing, post-acute, and outpatient medical exposure. While primarily senior housing/outpatient, it competes for institutional healthcare real estate capital and developer relationships.
• Northwest Healthcare Properties REIT: Toronto-based healthcare REIT that purchased a 27-property portfolio co-developed by Pinecroft/Harrison Street for $601.9M in 2022. Represents both an institutional buyer of Pinecroft-developed assets and a peer in healthcare property ownership.

Others

• Harrison Street Real Estate Capital: Pinecroft's largest institutional JV partner with ~$21.5B AUM and deep healthcare real estate expertise. Functions as both customer and potential competitor for sourcing and developing healthcare investment opportunities.
• Capital One Healthcare Real Estate: Active healthcare real estate lender (provided $21.2M first mortgage to Pinecroft JV for Imperial Medical Center). Functions as a debt capital partner and indirect benchmark for healthcare real estate valuation.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles18 records

Subsidiaries3 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Pinecroft Realty