What The Centurion Foundation does

The Centurion Foundation is a nonprofit 501(c)(3) organization founded in 1996 by Greg Grove that provides real estate transaction expertise, financing, and strategic leadership to nonprofit health systems, institutions of higher education, and local governments. The foundation acquires, develops, owns, and leases mission-critical facilities — including medical office buildings, free-standing emergency departments, labs, classrooms, dorms, and administrative offices — on behalf of charitable clients, using structures such as sale-leasebacks, build-to-suit developments, and facility acquisitions with long-term triple-net leases.

The foundation's core differentiator is its 501(c)(3) status, which provides access to tax-exempt bond financing, property tax exemptions, and construction materials sales tax exemptions that are unavailable to for-profit developers. This allows Centurion to offer below-market lease terms, favorable end-of-term purchase options (including $100 buyouts), and significantly lower total occupancy costs for nonprofit tenants. The Centurion Model — a seven-step proprietary methodology covering goal identification, partnership assessment, expertise deployment, solution exploration, execution, ownership transfer, and mission advancement — is the framework through which each transaction is structured. Documented engagements include lease restructuring for Ascension Seton ($1.4M annual rent savings, $15M+ rental savings over initial term), a four-building sale-leaseback for MultiCare Health System ($40M+ in lifetime savings), and development of a comprehensive outpatient care center for Infirmary Health System ($300K annual rent savings plus $150K annual real estate tax exemption).

The business model generates revenue through three primary streams: (1) rental income from owned facilities leased to nonprofit tenants on long-term bases; (2) financial structuring, bond financing arrangement, and strategic advisory fees; and (3) REIT management fees, following the July 2026 launch of a higher education-focused REIT. Pricing is fully custom and project-based, with no public pricing tiers. Go-to-market is relationship-driven and consultative, targeting CFOs, CEOs, and board members of nonprofit organizations primarily through direct engagement, professional network referrals, and case-study-driven reputation. In 2026 the foundation expanded substantially, completing a $101 million acquisition of two Rhode Island hospitals (creating CharterCARE Health of Rhode Island, a separate operating entity with a $330 million annual budget) and a $95 million acquisition of Northlake Mall in suburban Atlanta with Emory Healthcare as primary tenant.

Name

The Centurion Foundation

Legal name

The Centurion Foundation

Website

https://centurionfoundation.org

Company type

Private

Founded year

1996

Operating status

Operating

Headcount range

1–10 employees

Short description

The Centurion Foundation is a nonprofit 501(c)(3) organization founded in 1996 that provides real estate transaction, financing, and ownership services to nonprofit health systems, higher education institutions, and local governments, using tax-exempt bond financing and below-market lease structures unavailable to for-profit developers.

Ownership category

akta.pro rank

Product category

Nonprofit Real Estate and Financial Services

NAICS

Grantmaking Foundations (813211), Grantmaking and Giving Services (81321), Trusts, Estates, and Agency Accounts (52592)

SIC

Real Estate Investment Trusts (6798), Lessors Of Real Property, Nec (6519)

akta.pro primary industry

Private Foundations (BPAGAKAA)

Keywords

• Nonprofit real estate development
• Tax-exempt bond financing
• Healthcare facility leasing
• Higher education real estate
• Sale-leaseback transactions

Headquarters

HQ city

Boca Raton

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Real Estate Ownership and Leasing: Centurion acquires, develops, owns, and leases healthcare, higher education, and government facilities to nonprofit organizations. Revenue is generated through rental income from long-term lease arrangements structured to provide below-market rates to nonprofit tenants while maintaining sustainable returns. The model includes sale-leaseback transactions, build-to-suit developments, and facility acquisitions with flexible terms.
2. Financial Solutions and Advisory Services: Provides financial structuring, bond financing arrangement, and strategic advisory services to help institutions secure below-market financing, restructure balance sheets, and obtain credit ratings. Services include securing capital resources, sourcing incentives, and managing ownership risk.
3. REIT Management: Centurion has launched a new REIT focused on higher education properties, leveraging its long-term triple-net lease model to offer steady income to investors. This creates an additional revenue stream through REIT management fees and structures.

Pricing tiers

Go-to-market motion1 record

Distribution channels1 record

Marketing channels3 records

Core offering

The Centurion Foundation is a nonprofit 501(c)(3) organization that acquires, develops, finances, owns, and leases real estate facilities for nonprofit health systems, institutions of higher education, and local governments. It delivers tailored real estate, financial structuring, and ownership strategies through its seven-step Centurion Model, leveraging tax-exempt bond financing and property tax exemptions to provide below-market terms and long-term ownership options to nonprofit clients.

Product overview

The Centurion Foundation is a nonprofit 501(c)(3) organization offering integrated real estate transaction expertise and strategic leadership to nonprofit health systems, institutions of higher education, and local governments. The company's service portfolio includes four core offerings: Acquire and Develop Real Estate (medical office buildings, emergency departments, labs, classrooms, dorms), Design Strategies (customized plans for facility acquisition and development), Deliver Financial Solutions (below-market financing, balance sheet restructuring, tax exemptions), and Own & Operate (long-term ownership strategies). These services are delivered through the Centurion Model—a seven-step methodology that identifies project goals, determines partnership potential, leverages the foundation's expertise, explores mission-aligned solutions, executes plans, transfers ownership, and helps clients further their charitable missions. The company serves three primary verticals: healthcare facilities, higher education institutions, and government entities. Portfolio case studies include Ascension Seton (lease restructuring), MultiCare (sale-leaseback), and Infirmary Health System (outpatient care center development).

Differentiator

Problem solved

Functional benefit

Products and services

• Acquire and Develop Real Estate Acquisition and development of medical office buildings, free-standing emergency departments, administrative office buildings, labs, classrooms, dorms, and other mission-critical facilities for nonprofit healthcare, higher education, and government clients.
• Design Strategies Customized plans and crafted solutions for acquiring, leasing, or developing facilities, including navigating institutional and budgetary challenges while reducing cost of occupancy for nonprofit organizations.
• Deliver Financial Solutions Securing below-market financing, sourcing incentives, restructuring balance sheets, obtaining credit ratings, and reducing operational expenses through energy-efficiency upgrades for nonprofit organizations.
• Own & Operate Strategies for efficient facility ownership and successful operations for healthcare and education institutions, focusing on long-term control and low cost of capital.
• Higher Education REIT REIT focused on higher education properties, leveraging Centurion's long-term triple-net lease model to offer steady income to investors.
• Healthcare Facility Operations (CharterCARE Health of Rhode Island) Nonprofit hospital system operating Roger Williams Medical Center and Our Lady of Fatima Hospital in Rhode Island, formed by Centurion following its acquisition of the facilities, with a $330 million annual budget and 2,400 health professionals across approximately 500 beds.

Quantifiable outcome

• $40 million+ saved over transaction life for MultiCare through reduced rent, property tax elimination, and facility reversion
• +6 more outcomes

Named customers5 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Two partnerships are on record, tiered core and supporting.

• Emory HealthcarecoreStrategic or Co-development Partner · 15 July 2026Primary tenant at Northlake Mall property, leasing the entire property under a long-term agreement. Partnership enables Emory to significantly expand its campus footprint while achieving cost savings, and provides Centurion with stable rental income.
• Hall RendersupportingImplementation/ SI/ Consulting Partner · 9 March 2026National health law firm served as purchaser's legal counsel for the Rhode Island hospital acquisition, handling complex regulatory and restructuring considerations during the conversion from for-profit to nonprofit status.

Scale indicators8 records

Recent moves8 records

Expansion highlights5 records

Broad incumbents

• Greystar Real Estate Partners: Largest operator and developer of rental housing including significant student housing at universities. Comparable higher education-adjacent ownership and operational exposure relevant to Centurion's expanding higher education REIT strategy.
• Ventas: Diversified S&P 500 healthcare REIT with exposure to medical office buildings, life sciences, and senior housing. Overlaps broadly with Centurion's healthcare facility ownership focus but at much greater scale and as a for-profit REIT.
• Welltower: Large-cap healthcare REIT focused on senior housing, outpatient medical, and post-acute care real estate. Comparable ownership/leasing model but focused on senior housing rather than the academic medical and safety-net hospital exposure that defines Centurion.
• Medical Properties Trust: Hospital-focused REIT owning acute care and behavioral hospital real estate across the US and internationally. Comparable core activity (hospital real estate ownership) but operates as a for-profit public REIT rather than a 501(c)(3).
• Healthpeak Properties: S&P 500 REIT focused on outpatient medical, lab/life sciences, and senior housing real estate. Provides overlapping capabilities to Centurion's healthcare facility ownership but as part of a much broader for-profit portfolio.

Direct peers

• NexCore Group: Full-service healthcare real estate development and investment firm serving hospitals and health systems. Comparable scope and client base to Centurion's Acquire and Develop Real Estate service line.
• Anchor Health Properties: Healthcare-focused real estate development and ownership firm serving health systems with medical office buildings and outpatient facilities. Comparable to Centurion's healthcare facility acquisition and lease-back model, though operating on a for-profit basis.
• Capstone Development Partners: Developer and owner of student housing and higher education facilities for colleges and universities. Directly comparable to Centurion's higher education facility acquisition, financing, and long-term ownership solutions.
• Lillibridge Healthcare Real Estate: Healthcare real estate services platform now operating within Ventas, providing facility management, development, and leasing to hospitals. Comparable healthcare real estate ownership/leasing model serving similar institutional clients.
• Hammes Partners: Healthcare facility strategy, planning, and development firm advising health systems on real estate solutions. Closely comparable to Centurion's Design Strategies and Own & Operate offerings for nonprofit health systems.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/rsm-fbo-the-centurion-foundation-inc.

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

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

M&A2 records

Investments

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

Frequently asked questions about The Centurion Foundation