Welcome Letter

Ben Ochs | Chief Executive Officer

GOOD

MORNING!

In a matter of days, we will be ringing in the holiday season and the start of a brand-new year. 2025 is special for us as it marks Anchor Health Properties' 40th anniversary! While some may say 40 is over-the-hill, we believe it’s the “new 30.” This significant milestone gives us a moment to reflect on the transformative journey of both our company and the healthcare real estate industry we proudly serve. The original two-person retail development venture that began in 1985 by our founders, Lou Sachs and Paula Crowley, pivoted a short time later during the Savings & Loan Crisis into healthcare real estate and has since become one of the nation’s leading healthcare real estate companies.

Forty years ago, healthcare real estate looked vastly different than it does today. Medical outpatient buildings (MOBs) were largely owned by health systems, almost entirely located “on-campus,” and cap rates and interest rates were in entirely different realms. MOBs at that time traditionally consisted of random assortments of physician groups on hospital campuses, devoid of the customer, tenant ecosystem and location focused attention that is so critical to successful retail.

Inspired by retail principles, Lou and Paula brought a fresh, customer (patient) centric approach to their pivot into healthcare real estate. Lou and Paula’s vision was groundbreaking at that time as they applied principles from retail, brand, and customer experience that focused on the needs of the end user—patients, providers, and communities. That thinking, rooted in challenging the status quo, was transformative then and continues to guide our company’s culture and mission today.

What began as a development-focused organization has now evolved into a nationwide full-service leader in the industry, with property management, asset management, leasing, debt and equity capital markets service lines supported by in-house marketing, IT and accounting teams. Today, we continue to pioneer the most advanced, sophisticated solutions that facilitate the most attractive healthcare real estate services and capitalization structures available. Our approach covers the full spectrum - from fee-for-service to joint venture partnerships with health systems and physicians to comprehensive, risk-bearing, financing structures – and hybrid approaches of the former as well. Through careful curation, we tailor the capital solution around each project to meet the unique needs of our clients, ensuring that we are going beyond providing “just services” or “just capital,” instead delivering strategic value embedded within integrated real estate services and capital structures to solve for today’s healthcare needs.

As we celebrate 40 years, we look back with humility and look forward with purpose. Our commitment to staying at the forefront of industry change and continuously challenging the status quo—just as Lou and Paula first envisioned—remains unwavering. The foundation they established guides us to carry forward their legacy of thinking differently as we continue to pursue better healthcare through real estate solutions.

Thank you for being a part of our journey. We look forward to many more years of challenging expectations, setting new standards, delivering innovative solutions and creating spaces that serve and heal.