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Executives with Milwaukee-based developer Landmark Healthcare Facilities L.L.C. think a move toward increased property ownership will significantly grow their business.
Landmark Healthcare, led by former politician Joe Checota, has designed and built physician office buildings, ambulatory surgery centers and other non-hospital health care buildings since it was founded in 1995 as a successor to Checota's Integrated Medical Buildings development company. The firm will now seek to own many of those structures in a shift from traditional real estate developer to developer and landlord.
The efforts are expected to boost Landmark's revenue from its 2004 estimate of about $45 million, company officials said. Checota declined to give a specific revenue goat, but said the improved bottom line also will help the firm almost double its work force in the next 18 months, from 26 employees currently to near 50 by the summer of 2006.
"It's a shift, but it's a welcome shift," said Nicholas Checota, Joe Checota's son and Landmark's chief operating officer.
In November. Checota formed Landmark Healthcare Properties L.L.C., a whollyowned subsidiary to own and manage the properties that Landmark Healthcare Facilities will design and build. Hospital systems, physician groups and other provider organizations operating the outpatient buildings then will lease...