MedProperties Group

What MedProperties Group does

MedProperties Group, founded in 1994 by Matthew J. Campbell, is a Chicago-based medical real estate investment, development, and operating platform that specializes in medical office buildings, ambulatory surgery centers, dialysis clinics, urgent care centers, and other outpatient healthcare facilities. The firm was originally created as the real estate platform to complement Same Day Surgery Network, LLC — which under Campbell's leadership grew into the largest network of outpatient surgical centers in Illinois (over 16,000 annual procedures, 200+ employees) before being sold to publicly traded United Surgical Partners in 2004 — giving the firm unusual healthcare operating depth that informs its real estate decisions. Current operations span Illinois, Colorado, and Arizona, with stated expansion intent into Denver, Phoenix, Atlanta, Charlotte, and Minneapolis markets.

The company's service platform spans De Novo Development, Acquisitions, Adaptive Reuse Development, Medical Leasing, Property Management, and Construction and Facilities Management. Revenue is generated principally through ownership and leasing of medical office buildings to health systems and physician groups, complemented by development fees, asset and property management fees for third-party institutional owners including Harrison Street Real Estate Capital and Inland Real Estate Group, and periodic property sales. The investment side is organized through MedProperties Development and Acquisition Fund I, LP, a commingled fund targeting core, core-plus, value-add, and opportunistic investments in medical office, specialty medical, and life science properties.

Customer relationships are anchored by marquee health systems including Northwestern Memorial Healthcare, Advocate Health Care, Edward-Elmhurst Health, Rush University Medical Center, Dignity Health, Shirley Ryan AbilityLab, Lurie Children's Hospital, Advocate Aurora Health, and Fresenius Medical Care. Notable assets include the 200,000+ SF Salt Creek Medical Campus in Hinsdale (sold in 2020 for $51 million), Lakeview Medical Campus in Chicago (75,000 SF, Silver LEED certified), Batavia Medical Campus, Mercy Medical Commons in Gilbert, Arizona (2010 NAIOP Medical Office Development of the Year), Rush MOR on the Rush University campus, and the 81,522 SF Northwestern Medicine Oak Brook Outpatient Center delivered in December 2023.

Name

MedProperties Group

Legal name

MedProperties Group

Website

https://medpropertiesgroup.com

Company type

Private

Founded year

1994

Operating status

Operating

Headcount range

11–50 employees

Short description

MedProperties Group is a Chicago-based medical real estate investment, development, and operating platform founded in 1994, developing and managing medical office buildings and outpatient facilities for health systems, physician groups, and institutional equity partners across the Midwest and select Sun Belt markets.

Ownership category

akta.pro rank

Product category

Medical Real Estate Investment and Development

NAICS

Offices of Real Estate Agents and Brokers (5312)

SIC

Real Estate Agents & Managers (For Others) (6531)

akta.pro primary industry

Healthcare & Senior Housing Real Estate Asset Management (BPAJAMAH)

akta.pro secondary industries

Healthcare & Medical Office Property Management (BPAJAGAF), Healthcare & Medical Office Brokerage (BPAJABAF), Healthcare & Medical Office Tenant Representation (BPAJALAF)

Keywords

• Medical real estate investment
• Healthcare property development
• Medical office buildings
• Ambulatory surgery centers
• Healthcare property management

Headquarters

HQ city

Chicago

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Supply Chain, Marketing or Sales, Others

Revenue model

1. Medical Office Building Ownership and Leasing: The company generates revenue through ownership, development, and leasing of medical office buildings and healthcare facilities to health systems, physician groups, and medical tenants. Revenue is derived from rental income, property sales, and development fees.
2. Third-Party Property Management: MedProperties Group provides property management services for third-party owners, managing medical office buildings for institutional partners including Harrison Street Real Estate Capital and Inland Real Estate Group of Companies.

Go-to-market motion1 record

Distribution channels4 records

Marketing channels5 records

Core offering

MedProperties Group invests in, develops, acquires, leases, and manages medical real estate including medical office buildings, ambulatory surgery centers, dialysis clinics, urgent care centers, and life science facilities. The firm operates through direct ownership, joint ventures with institutional equity partners, and third-party property management engagements, serving health systems, physician groups, and specialty healthcare operators primarily in the Midwest with expanding presence in Colorado and Arizona.

Product overview

MedProperties Group is a medical real estate investment, development, and operating platform that offers a comprehensive suite of services including De Novo Development, Acquisitions, Adaptive Reuse Development, Medical Leasing, Property Management, and Construction and Facilities Management. The company operates a portfolio of medical office buildings and campuses across Illinois, Colorado, and Arizona, with a focus on medical office, specialty facilities, and life science properties. Their property portfolio includes notable assets such as Salt Creek Medical Campus (200,000+ SF), Lakeview Medical Campus (75,000 SF), Batavia Medical Campus, Mercy Medical Commons, Rush MOR, and the recently completed Northwestern Medicine Oak Brook Outpatient Center (81,522 SF). They also provide third-party management services for properties owned by institutional partners.

Differentiator

Problem solved

Functional benefit

Products and services

• De Novo Development Ground-up development of new sustainable medical facilities from strategic planning through design, construction, and startup, creating Class A medical office buildings and outpatient facilities for physician and hospital partners.
• Acquisitions Acquisition platform for medical properties including medical office buildings and outpatient care facilities such as ambulatory surgery centers, dialysis clinics, and urgent care centers, with core, core-plus, value-add, and opportunistic investment profiles.
• Adaptive Reuse Development Conversion of existing well-located buildings suitable for transformation to medical office use, including structures with adaptable infrastructure and floor plans conducive to patient accessibility.
• Medical Leasing Medical office leasing services leveraging staff with healthcare backgrounds who understand healthcare's unique requirements, combining healthcare expertise with patient-centric facility design.
• Property Management Property management services for medical office buildings provided by staff with healthcare backgrounds, proactively anticipating tenant needs with focus on delivery of care and patient experience.
• Construction and Facilities Management Construction management from space-planning through punch-list/close-out, including project oversight, cost and quality management, contract administration, design/finish selection, and facilities management services.
• 3rd Party Management Third-party property management and asset management services for medical office buildings owned by institutional partners including Harrison Street Real Estate Capital and Inland Real Estate Group, providing value-driven services with understanding of care delivery and patient experience.

Quantifiable outcome

• Lakeview Medical Campus achieved over 70% pre-lease rate to Northwestern Memorial Hospital under long-term lease
• +4 more outcomes

Named customers12 records

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Partnerships

Four partnerships are on record, tiered core and minor.

• Edward Health Ventures (Edward-Elmhurst Healthcare)coreStrategic or Co-development Partner · 29 May 2014Salt Creek Surgery Center at 530 N. Cass Avenue in Westmont is majority owned by Edward Health Ventures (subsidiary of Edward-Elmhurst Healthcare) and physicians affiliated with DuPage Medical Group and Hinsdale Orthopaedics.
• Stephen A. SmithminorStrategic or Co-development Partner · 5 September 2012Stephen A. Smith joined MedProperties Group Advisory Board and Investment Committee. As partner in capital markets area, he leads efforts in seeking new equity investors for commingled funds, separate accounts, joint venture partnerships and co-investments.
• Fresenius Medical CarecoreStrategic or Co-development Partner · 10 June 2010MedProperties Group signed long-term lease with Fresenius Medical Care to anchor second phase of Batavia Medical Campus. Fresenius is the world's largest provider of renal dialysis services with expected 2010 revenues exceeding $12 billion.
• United Surgical Partners InternationalcoreStrategic or Co-development Partner10 Salt Creek Lane is a multi-specialty ambulatory surgery center fully and long-term leased to a partnership of United Surgical Partners International and local physicians. United Surgical Partners is a major ambulatory surgery center operator.

Scale indicators9 records

Recent moves10 records

Expansion highlights4 records

Broad incumbents

• Ventas: Large public healthcare REIT with significant medical office and outpatient real estate exposure. Provides capital markets context for healthcare property valuation and tenant scale.
• Healthpeak Properties: Diversified public REIT with a significant medical office portfolio (outpatient medical facilities leased to health systems) plus life science and senior housing. Comparable in healthcare tenant focus but broader in scope.

Direct peers

• Anchor Health Properties: Private medical office development and investment firm specializing in MOBs anchored by health systems. Closely comparable mid-market competitor with similar tenant profile and JV capital model.
• Healthcare Realty Trust: Public REIT specializing in medical office buildings and outpatient facilities leased to health systems and physician groups. Most directly comparable to MedProperties in asset class, though at meaningfully larger scale.
• Global Medical REIT: Public REIT focused on net-leased MOBs and outpatient facilities. Smaller public comparable with similar specialty outpatient asset focus.
• Pacific Medical Buildings: Private healthcare real estate firm that develops, owns, and manages outpatient medical facilities. Direct comparable in product mix (MOBs, ASCs, specialty facilities) and health system tenant focus.
• Montecito Medical Real Estate: Private healthcare real estate acquisition firm focused exclusively on medical office buildings. Closely comparable in acquisition-led, health-system-tenant-focused investment strategy.
• Hammes Partners: Healthcare-focused real estate development and investment firm that develops, owns, and manages MOBs and outpatient facilities for health systems. Comparable in development approach and health system partnerships.
• Flagship Healthcare Properties: Private healthcare real estate firm specializing in MOBs, ASCs, and medical plazas in the Mid-Atlantic and Southeast. Comparable mid-market competitor with similar health system tenant approach.

Others

• Harrison Street Real Estate Capital: Institutional capital partner of MedProperties and a healthcare-focused real estate investment manager. Compares as both a JV capital source and adjacent platform in healthcare property investment management.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/medpropertiesgroup

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 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 MedProperties Group