Hammes Company Market Research Report

Background

Overview

Hammes Company, founded in 1991 by Jon D. Hammes, is a national real estate consulting, development, investment, and management firm headquartered in Milwaukee, Wisconsin. The company specializes in healthcare real estate, offering comprehensive services that include strategic planning, facility development, and property management. Hammes has been recognized as a leading healthcare developer for 27 consecutive years, including 21 years as the top developer, according to Modern Healthcare's Construction & Design Survey.

Mission and Vision

Hammes Company is dedicated to delivering innovative real estate solutions that enhance healthcare delivery and patient care. The firm's mission is to provide exceptional service and expertise in the development and management of healthcare facilities, ensuring that each project aligns with the strategic goals of its clients.

Primary Area of Focus

The company's primary focus is on healthcare real estate, encompassing the development, investment, and management of medical office buildings, ambulatory care centers, hospitals, and other healthcare facilities. Hammes also engages in commercial real estate development, including mixed-use and sports facilities.

Industry Significance

Hammes Company holds a significant position in the healthcare real estate sector, having managed over 57 million square feet of healthcare facilities valued at more than $23 billion. Its consistent top rankings in industry surveys underscore its influence and leadership in the field.

Key Strategic Focus

Core Objectives

Healthcare Real Estate Development: Focus on the planning, development, and management of healthcare facilities that improve patient outcomes and operational efficiency.

Investment in Healthcare Properties: Through Hammes Partners, the company invests in healthcare real estate, supporting the expansion and modernization of healthcare providers.

Commercial Real Estate Projects: Engage in the development of commercial, mixed-use, and sports facilities, contributing to community development and economic growth.

Specific Areas of Specialization

Ambulatory Care Centers: Design and development of outpatient facilities that provide a range of medical services.

Medical Office Buildings: Creation of spaces tailored for healthcare providers, enhancing patient access and care delivery.

Hospital Facilities: Development and renovation of hospitals to meet evolving healthcare needs.

Key Technologies Utilized

Project Management Software: Utilization of advanced software tools for efficient project planning and execution.

Building Information Modeling (BIM): Implementation of BIM for precise design and construction processes.

Sustainable Building Practices: Adoption of green building technologies to promote environmental sustainability.

Primary Markets Targeted

Healthcare Systems: Collaborations with hospitals and health networks to develop and manage facilities.

Academic Institutions: Partnerships with universities for the development of medical campuses and research facilities.

Public and Private Entities: Engagements with various organizations for commercial and mixed-use developments.

Financials and Funding

Funding History

Hammes Company has a robust financial history, with its investment arm, Hammes Partners, raising significant capital for healthcare real estate projects. In 2015, Hammes Partners closed its second healthcare real estate investment fund, raising $430 million from institutional investors. In 2017, it closed its third fund, reaching its hard cap with $675 million in commitments. In 2022, Hammes Partners closed its fourth fund at $739 million, marking it as the largest U.S. dedicated healthcare fund at that time.

Total Funds Raised

Over the years, Hammes Partners has raised substantial capital, with the fourth fund in 2022 totaling $739 million. This reflects the firm's strong position in the healthcare real estate investment market.

Notable Investors

Hammes Partners' investors include institutional entities such as pension funds, endowments, foundations, insurance companies, and family offices, indicating a diverse and robust investor base.

Intended Utilization of Capital

The capital raised is primarily utilized for the development and acquisition of healthcare real estate, supporting the expansion and modernization of healthcare facilities across the United States.

Pipeline Development

Key Pipeline Candidates

Hammes Company is involved in various healthcare facility projects, including:

Ambulatory Surgery Centers: Development of outpatient surgical facilities to meet growing demand.

Medical Office Buildings: Construction of office spaces for healthcare providers.

Hospital Renovations: Upgrades and expansions of existing hospital facilities.

Stages of Clinical Trials or Product Development

As a real estate development firm, Hammes Company does not engage in clinical trials or product development. Its focus is on the physical development and management of healthcare facilities.

Target Conditions

Hammes' developments aim to address the evolving needs of the healthcare sector, including:

Outpatient Care: Facilities designed for outpatient services to improve patient access and convenience.

Acute Care: Hospital facilities equipped to provide intensive medical care.

Specialty Care: Centers focused on specific medical specialties, such as oncology or orthopedics.

Relevant Timelines for Anticipated Milestones

Specific project timelines vary based on the scope and complexity of each development. Hammes Company provides detailed project schedules upon engagement with clients.

Technological Platform and Innovation

Proprietary Technologies

Hammes Company employs proprietary project management methodologies and tools to ensure efficient and effective project delivery.

Significant Scientific Methods

The firm utilizes advanced project management techniques, including:

Lean Construction Practices: To minimize waste and maximize value.

Integrated Project Delivery (IPD): A collaborative approach to project execution.

AI-Driven Capabilities

While specific AI-driven capabilities are not detailed, Hammes Company is known for integrating advanced technologies to enhance project outcomes.

Leadership Team

Jon D. Hammes – Founder and Managing Partner

Jon D. Hammes founded Hammes Company in 1991 after a 17-year tenure at the Trammell Crow Company, where he was the Managing Partner responsible for operations in the Midwestern U.S. and Canada. He holds a Master of Science in Real Estate and Urban Land Economics from the University of Wisconsin-Madison and a Bachelor of Business Administration from the University of Wisconsin-Milwaukee.

Nancy Connolly – President of Hammes Healthcare

Nancy Connolly serves as the President of Hammes Healthcare, the firm's healthcare division. She has been instrumental in maintaining the company's leadership position in healthcare development.

Patrick Hammes – Managing Principal

Patrick Hammes is the Managing Principal of Hammes Company, overseeing the firm's strategic direction and operations. He has been recognized for his leadership and commitment to excellence within the organization.

Leadership Changes

Recent leadership changes include the appointment of Lisa Lieberman as Operational Readiness Executive, reflecting Hammes Company's commitment to enhancing operational efficiency and client satisfaction.

Competitor Profile

Market Insights and Dynamics

The healthcare real estate market is experiencing growth due to increasing demand for outpatient services and the need for facility modernization. Financial pressures are prompting providers to adopt innovative and efficient development approaches.

Competitor Analysis

Hammes Company's primary competitors include other real estate development firms specializing in healthcare facilities. Specific competitor details are not provided in the available sources.

Strategic Collaborations and Partnerships

Hammes Company has engaged in significant collaborations, including:

Foxconn Technology Group: Selected Hammes Company to develop master plans for the Wisconn Valley Science and Technology Park in Racine County, Wisconsin.

Green Bay Packers: Hammes Company was hired for the renovation of Lambeau Field in 2003.

Operational Insights

Hammes Company's strategic considerations include maintaining a strong national presence while providing local expertise through regional offices. This approach allows the firm to deliver tailored solutions that meet the specific needs of each client and project.