Former Trammell Crow and CBRE executives Kevin O’Neil and Mark C. Allyn are founding Fidelis Healthcare Partners to concentrate on new development and acquisitions in the healthcare real estate market.
O’Neil and Allyn have more than 60 years of combined experience in commercial real estate, and have both worked for Trammel Crow Company and CBRE’s healthcare business. They will look to develop and acquire medical properties and capitlaize on the trend for healthcare to embrace retail and consumer mindsets. Fidelis’ tagline will be “Real estate at the intersection of Healthcare and Retail.”
The new partnership will leverage the reputation of Fidelis Realty Partners, which has accrued a portfolio of over $3 billion in retail properties over the last 15 years in Houston and Dallas-Fort Worth, but will remain intentionally small and private, allowing for more selectivity and hands-on execution.
“We have known and respected the Fidelis principals for decades and there are very good synergies between the firm and our new healthcare venture,” said Mr. O’Neil, President and CEO of Fidelis Healthcare Partners via release. “Fidelis Realty Partners owns a lot of retail property with strategically located developable land in both the Houston and DFW markets. As the retailization of healthcare continues, those retail locations might very well prove to be ideal for healthcare projects large and small. What makes for good retail generally makes for a good payer mix and a good healthcare location.”
O’Neil began his career at Trammell Crow Company in 1987 and helped found their healthcare real estate and development business, Trammell Crow Healthcare Services in 1999. He established the Partners Health Trust, a subsidiary of Trammell Crow Company, in 2004, and eventually served as President and Chief Investment Officer.
Allyn led the growth of PHT while focusing on new development and select acquisition on the way to assembling its medical office building portfolio.
“Fidelis Healthcare Partners is a startup that has been more than 15 years in the making,” said Mr. Allyn, Chief Investment Officer, via release. “Our extensive healthcare real estate experience and relationships, combined with the retail experience of Fidelis Realty Partners, enable us to bring outstanding results to our healthcare clients and our investors.”