Wallace H. Campbell & Co.
Achieving Real Estate Portfolio Goals with Specialized Property Management

Third-party ownership and management of real estate assets is a skyrocketing trend in the healthcare landscape. Through third-party management, developers can preserve capital resources for care needs and focus on augmenting their patient-facing processes while passing building regulation and maintenance responsibilities to a dedicated property partner.

Wallace H. Campbell & Co., a third-generation commercial real estate organization offering full-real-estate brokerage services, is at the forefront of boosting healthcare property management. Its portfolio includes asset management, comprehensive needs assessment, medical office development, and operational review/ management planning. A member and former leader of multiple premier professional associations that lobby real estate-related legislation, Wallace H. Campbell & Co. play a pivotal role in developing essential industry standards in the property management sector.

“It’s not always about the extra revenue generation that a particular asset will cover, it’s about a particular facility improving care delivery while making it easier and more efficient for operators,” says Curtis H. Campbell, CEO of Wallace H. Campbell & Co.

Wallace H. Campbell & Co. has developed dedicated medical office properties at many healthcare institutions in and around Baltimore City since 1952. Over the years, it observed that most healthcare facilities were owned and managed by doctors and practice groups that often had limited real-world experience operating a medical building.

Helping such clients, Wallace H. Campbell & Co. adopts a mindset that perceives care delivery as the primary driver for a medical facility. It places real estate management as a secondary function, always understanding the specialized needs of a healthcare practice.

Wallace H. Campbell & Co. caters to two types of clients, public healthcare systems that may own and operate medical institutions (on and off campus) and privately-owned medical facilities. For both cases, it ensures that the building is strategically aligned with the healthcare system’s or hospital’s objectives. This can include attracting the proper types of physicians to populate the tenant role of the building and devising complimentary services and specialties that strengthen their care delivery.

A core pillar in Wallace H. Campbell & Co.’s approach is its emphasis on ensuring that buildings fit within the strategic marketing campaign of the hospital to attract the types of doctors and specialties that clients are interested in bringing onto their campus. For instance, a cardiology care center requires the best-suited physicians, proper specialists, and robust tenant support in the building, driving the need for customized marketing. Wallace H. Campbell’s services enable clients to consolidate all the relevant information to provide highly efficient medical office property management.

Recently, a client with a relatively aging asset on their campus wanted to refurbish the building and bring it up to current standards and codes without spending considerable capital. For this project, Wallace H. Campbell & Co. created a plan to repurpose the asset as a specialty facility that delivered a full scope of cardiology and complimentary services. It also ensured that the cardiology groups had leading-edge imaging and testing applications within the facility.

Wallace H. Campbell & Co. remains a go-to partner for all full-real estate brokerage services. Moving forward, it wants to continue offering a combination of specialized boutique operations and a high level of client interaction, with the CEO taking an active role in guiding customers in implementing and achieving the right policy objectives.