Case Studies

Real estate investment case study: Allenmore C development

Collaborative partnership results in long-term, mutually beneficial solution.

Delivered on time and under budget, the project was fully leased at completion

MultiCare Health System, a leading regional health organization, needed to expand its Allenmore Hospital campus to meet increasing demand while continuing to offer the degree of highly specialized service for which they were known. The hospital wanted the flexibility of consolidated campus ownership in order to meet the changing market needs of its medical, surgical, and radiation oncology programs, while also maintaining a more liquid balance sheet.

Unico worked with leadership at MultiCare to solve their overall campus expansion requirements.

More Development Stories

Allenmore C, a medical office building developed by Unico in Tacoma, Washington.

Realizing that purchasing existing on-campus assets would prove both challenging and prohibitively expensive, MultiCare set out to find a partner who could help them acquire a third-party owned medical office building while also developing a new medical office building to accommodate programmatic expansion. Unico worked with leadership at MultiCare to solve their overall campus expansion requirements while understanding what unique attributes the new health care facility needed given current and potential uses. We successfully developed a new LEED-Silver medical office from the ground up, always with an eye towards the patient end-user and overall customer service experience.

Delivered on time and under budget, the project was fully leased at completion and met the needs of MultiCare leadership as well as individual physicians. The investment delivered a 27% levered IRR.