As we kick off 2025, Boldt Real Estate reflects on a year of significant achievements and strategic growth. The past year was marked by transformative partnerships, substantial investments, innovative projects, and a strong commitment to community involvement.
Grand Openings
2024 was a year of exciting new beginnings. We celebrated several grand openings, marking significant milestones in our development projects:
Intuitive Health’s Prosper, Texas Facility
This $15.8 million project combines emergency room and urgent care services in one location under the Legacy ER & Urgent Care brand. The 11,200-square-foot facility offers 24/7, full-service emergency room and urgent care services, a state-of-the-art on-site lab, and a radiology suite that includes X-ray and CT capabilities. The facility is staffed with ER-licensed, board-certified physicians and features six emergency rooms and four outpatient/non-urgent care rooms.
New Perspective Senior Living in Weldon Spring, Missouri
This $46 million, 136-unit, 145,651-square-foot senior living community offers independent living, assisted living apartments, and a dedicated memory care community. The facility includes a wellness center, dance studio, chapel, full-service pub and bistro area, restaurant-style dining room, beauty salon and spa, and numerous outdoor patio areas and walking paths around the beautiful seven-acre campus.
Baptist 1026 Building in Madison, Mississippi
This $35 million, 100,000-square-foot facility provides a comprehensive range of general and specialty medical services. Jackson Eye Associates and Mississippi Retina Associates are the inaugural tenants, occupying 34,000 square feet and 20,000 square feet, respectively. This new medical office building represents a substantial investment in the local community and a strategic step toward expanding and improving healthcare services in Central Mississippi.
Phase One of Lawrence University at Fox Commons
This phase includes 23 apartments housing 86 students, along with co-curricular spaces designed to support Lawrence’s academics and career exploration. The Business and Entrepreneurship Center and the Pre-Health Commons are key features of this development, providing important connecting points for students to engage in collaborative work with professionals in business and health and wellness fields
Senior Living Expansion
Boldt Real Estate has made significant strides in expanding into the senior living sector, underscoring our commitment to enhancing the quality of life for seniors. This year, we launched an ambitious senior living acquisitions campaign, highlighted by a landmark deal exceeding $200 million in capital. This strategic investment facilitated the acquisition and financing of six senior living communities in partnership with New Perspective and Fengate.
Our approach to senior living is comprehensive and community-centric, focusing on creating vibrant, supportive environments for seniors. We offer a range of services, including joint ventures, refi, acquisition, asset management, development, and planning, design and construction, ensuring that each community meets the highest standards of care.
With over $500 million invested in more than 20 senior living communities and a robust pipeline of future projects, Boldt is poised to become a leader in this growing sector. Our commitment to long-term ownership and stability means that the communities we develop will continue to thrive, backed by our dedication to operational success and resident satisfaction.
Projects Underway
Looking ahead, we have several exciting projects currently underway:
Nebraska Medicine Bennington Health Center
Set to open in the second half of 2025, this new clinic will offer primary care and immediate care services, expanding access to healthcare in the Bennington area. The facility will be open seven days a week to treat conditions such as coughs and colds, sore throats and earaches, minor cuts, respiratory illnesses, and abdominal pain.
HonorHealth Medical Campus at Pima Center
This $50 million medical campus in Scottsdale, Arizona is expected to open in the second quarter of 2025 and will feature a 100,000-square-foot ambulatory building offering a range of healthcare services provided by HonorHealth including primary care, urgent care, imaging, physical therapy, sports medicine, bariatrics and other preventive services. It will be co-located and integrated alongside a membership-based medical fitness center that includes a fitness floor, free weights, cardio machines, aquatics center, gymnasium and a running track.
Team Building and Community Involvement
At Boldt, we believe in the power of giving back and fostering a strong team spirit. This year, our team dedicated our Volunteer Time Off with Prevent Blindness Wisconsin, providing vision screenings for students at the Hmong American Peace Academy in Milwaukee. This initiative is part of our broader commitment to community health and well-being.
In addition to our volunteer efforts, we also enjoyed some fun and relaxation with our annual Brewers game and boat day. These events are a cherished tradition, offering our team a chance to bond and celebrate our collective achievements.
Brewers Game 2024
Rollout of the Value+ Model
This year, we proudly rolled out our Value+ Model for healthcare facility optimization. This innovative model is designed to transform underperforming healthcare facilities into optimized, revenue-generating assets while ensuring health systems maintain strategic control. The Value+ Model follows a systematic five-step process:
- Identification: Pinpoint underutilized facilities within the health system.
- Strategic Joint Ventures: Deliver immediate capital through strategic partnerships.
- Vacancy Filling: Fill strategic vacancies with carefully selected third-party providers.
- Monetization: Enable health systems to monetize facilities at true market rates.
- Long-Term Control: Ensure health systems maintain indefinite control over their facilities.
This approach, along with our array of flexible financing options and innovative development solutions, creates immediate value and aligns with long-term strategic objectives. It is a game-changer in facility management, perfectly tailored to meet the evolving needs of healthcare and senior living executives.
Looking Ahead
As we look forward to 2025, Boldt Real Estate remains dedicated to our mission of providing low-cost and convenient real estate development and investment services. Thank you to our partners, clients, and team members for making 2024 a remarkable year. We look forward to achieving even greater milestones together in the coming year.
