CREJ

A little over one year ago, at the end of 2020, health care providers nearly uniformly limited strategy conversa- tion to the short term – they were in the trenches of COVID-19 response and, with a glimmer of light, preparing for the operational undertaking of employee vaccina- tions. A year later, at the end of 2021, the passing of time provided little relief to the COVID-response bandwidth; in fact, quite the oppo- site as those same providers are battling untenable staff short- ages and severe burnout. As we delicately con- sider 2022, the health care real estate landscape in Colorado obvi- ously cannot be discussed in a vacuum of leasing velocity, cap rates and new develop- ments. As the industry begins to opine on what this year will bring, it almost certainly will be headlined with staffing shortages and sup- ply chain disruptions not unique to health care. But as treatments have evolved and the response- process has progressed, health care providers’ strategy thinking has stretched to the longer term. This is evidenced by the significant announcements, project comple- tions and technological advance- ments in the metro Denver area that concluded 2021 – with sights set on substantial changes to the health care real estate landscape. n SCL Health & Intermountain Healthcare merger. Broomfield-based SCL Health announced a merger with Utah-based Intermountain Healthcare in September, with intentions to close in early 2022. The merger will create a 33-hos- pital, 385-clinic, six-state health care system located in Colorado, Montana, Kansas, Utah, Idaho and Nevada. SCL Health will maintain a regional office in Broomfield, while Please see Market Update, Page 18 Abby Waner Bartolotta Vice president, health care real estate, JLL Long-term planning comes back into focus INSIDE A conversation with an investor who is betting on Boulder County’s emerging role Possible timelines for the senior housing recovery and active adult community trends Life sciences market Senior housing PAGE 12 PAGES 13-17 Examine which pandemic-related changes will remain as health care design is reshaped Market outlook PAGE 6 January 2022 SCL Health SCL Health recently broke ground on the new Lutheran Medical Center in the Clear Creek Crossing development, just 3 miles west of the existing hospital. Expected to open in 2024, the hospital will be the newest in the metro area, with the functionality of a post-pandemic hospital including inpatient beds that can convert to ICU rooms.