JLL Valuation Advisory Healthcare Group positioned for growth
Under the stewardship of Erik Hill, who was just promoted to National Practice Leader, the group plans to recruit and build upon technology
CHICAGO, Feb. 24, 2021 – The JLL Valuation Advisory group announced today that it has promoted Erik Hill, MAI, to National Practice Leader of Healthcare, where he will help lead the growth of the firm’s healthcare valuation advisory business throughout the U.S.
Reporting to Zach Bowyer, MAI, the Head of Valuation Advisory for Alternatives, Hill, who is based in Dallas, will be a key partner in delivering market-leading appraisal services consistently and accurately as part of JLL Valuation Advisory’s sector-led approach to all real estate asset classes and property sectors.
“I am excited to take on this new role and implement a growth strategy, which includes looking to hire top talent in the healthcare valuation space, grow our presence in the coastal markets and build upon our technology and platform to better support our team,” Hill said. “The healthcare real estate sector has continued to be highly favored by investors for the past several years due to its investment qualities such as long-term leases, stable occupancy and income, strong tenant credit and tenant retention.
In his new role, Hill will specialize in third-party valuations for healthcare assets, including hospitals, medical offices, surgical centers, substance abuse facilities, cancer centers, imaging centers, behavioral facilities, and will oversee fair market rent studies for Stark compliance and purchase price allocations for REITs and other owners and investors who need financial reporting. Additionally, he will oversee client management, healthcare team production, marketing and both internal and external team representation.
Hill notes that, while many property types have been significantly affected by the COVID-19 pandemic, the healthcare sector has proven to be resilient, as has been reflected in high rent collections with limited delinquencies and rent deferrals over the last year.
“We anticipate the number of healthcare transactions to accelerate, and we will continue to provide our clients with the highest level of service and dedication,” he said.
Since joining the firm in 2015, Hill has been a key partner in delivering market-leading appraisal services consistently and accurately as part of JLL Valuation Advisory’s sector-led approach. Prior to that, he spent 10 years as a commercial real estate broker responsible for sales, acquisitions and leasing of all property types. Hill has a bachelor’s degree from Baylor University in business administration and a Master of Business Administration from Tarleton State University. He has both MAI Member and CCIM designations.
“Erik is an incredibly strategic thinker who brings a wealth of experience in healthcare real estate valuations, with an unwavering commitment to providing world-class service,” Bowyer said. “In his expanded role, Erik will be a critical part of our mission to enable our clients to make the fastest, best informed decisions related to their real estate interests, for all asset classes.”
“In addition to his experience and knowledge of healthcare valuation, Erik will play a role in leveraging our seniors housing valuation and advisory business line, which is already considered the largest and most respected in the industry,” added JLL Managing Director Brian Chandler, MAI, National Practice Lead – Seniors Housing. “We look forward to working with Erik and continuing our client-first service in the seniors housing and healthcare industry.”
Ken Gill, MAI, who established the healthcare valuation business as an industry leading service provider at JLL, decided to step down from his position as the national practice leader, handing the reigns over to Hill.
“As my mentor, Ken has provided sound leadership and knowledge for many years,” Hill said. “He both established and scaled JLL’s healthcare practice, and I’m honored to build upon that momentum. JLL’s healthcare practice will continue providing our clients with unparalleled service and expertise. Ken’s leadership has positioned our team for success, and we’re grateful for his dedication.”
“Erik and I have worked closely together since his start at JLL, and he has been integral in the growth of our healthcare practice,” Gill added. “I am excited to see the continued growth and success of our healthcare business under Erik’s leadership, and I know that our clients will be in great hands.”
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JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $16.6 billion, operations in over 80 countries and a global workforce of more than 91,000 as of December 31, 2020. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.