Health Realty Advisors, Inc. was created to better serve the increasing real estate needs of the Hospital, Physician, Social Service and University markets and has the ability to respond to any conceivable real estate need. Its strength is its unique understanding of these businesses and its ability to blend an institution’s real estate needs and related assets into a variety of successful business initiatives. These specialty businesses have a unique language and decision making process. We speak their language while also being an expert in real estate and finance. As an owner using, creative finance structures, we have developed in excess of $ 200 million real estate for non-profits.

Michael P. Goldenberg, President

Mr. Goldenberg, age 53, has been involved in healthcare and other non-profit real estate and structured finance for the past 27 years. He began his career in accounting and real estate in Philadelphia with Laventhol and Horwath and then Frankel Enterprises. He then joined Ernst & Young’s Healthcare Consulting Group where he specialized in hospital feasibility studies for tax-exempt bond financings. He was able to combine his healthcare, finance, and real estate experience as Senior Vice President of Granary Associates’ Real Estate Services Group. In that position he developed and financed in excess of $150 million of healthcare and other non-profit real estate projects.

He is the founding principal of Health Realty Advisors, Inc. which he created in 2001. He is an active consultant in the provision of healthcare and other non-profit real estate services as well as implementing solutions which include development, acquisitions, dispositions, leasing and financing. In the last two years he has implemented $ 60 million of transactions. He graduated from Pennsylvania State University where he majored in Accounting as an undergraduate and in Finance when he obtained his Masters in Business Administration. His graduate school education was funded by a grant from the Robert Wood Johnson Foundation, where he provided consulting to rural medical centers.

Mr. Goldenberg has participated in and/or had primary responsibility for:

• Completing a $ 40 million sale/leaseback transaction for Crozer Keystone Health System (October 2009).
  
  
• Representing the Rothman Institute in lease negotiations for a 16,000 SF surgery center at the Philadelphia Naval Base (December 2008).
  
  
• Providing financial advisory services to the Albert Einstein Healthcare Network in its successful bid for Elkins Park Hospital. As part of a portfolio analysis identified Germantown Hospital as a candidate for sale. Re-tenanted the Germantown Hospital MOB.
  
  
• Structuring and executing the sale of Ford Road Hospital on behalf of Thomas Jefferson University Hospital and List Associates.
  
  
• Parking Garage Feasibility Study – North Shore Long Island Jewish Health System, Trinitas Hospital, Crozer Keystone Health System.
  
  
• Acquisition, redevelopment, financing for the Federal Reserve Building on behalf of Thomas Jefferson University Hospital ($30,000,000) Ground acquisition, development, financing of Voorhees Ambulatory Care Initiative for Thomas Jefferson University Hospital ($ 6,500,000)

Mr. Goldenberg is a frequent lecturer on healthcare real estate. In June 2002, he was one of the keynote speakers at the “Medical Office Summit” held in San Francisco, California. He has long been active in the Jewish Community where he currently serves as Co-Chair of the Real Estate and Financial Services Division of the Jewish Federation of Greater Philadelphia. He is also the Endowments Chair for Tiferet Bet Israel Synagogue.