Leadership & Advisors New

The management team is highly experienced in all aspects of operating, managing and acquiring medical and commercial properties.  As an owner in Healthcare Property Advisors, James McGrade is recognized for his relationships and strategic partnerships with physicians, medical institutions and hospital systems.

LEADERSHIP TEAM

James McGrade : President, Healthcare Property Advisors

James McGrade President, Healthcare Property Advisors

James McGrade serves as President providing overall direction of the firm’s investment strategy, transactional, and development activity. As a real estate entrepreneur for more than 30 years, James has become a respected specialist in the medical real estate industry. James has deep experience in development, acquisitions, dispositions, construction management and leasing of prominent healthcare projects. His responsibilities include sourcing, analyzing, and financing healthcare real estate investments. James has principally invested in, developed, and managed numerous medical office assets over the last 20 years. In 2014 he merged Val Mesa Management, a firm he founded, with The Innovation Institute to create an institutional level real estate investment management company with a focus on medical office property acquisition, development and management.

James has a BS in Business Administration with an emphasis in Finance and Real Estate from California Polytechnic University, Pomona, previous Chairman of the City of Brea Planning Commission, Brea Chamber of Commerce Board member, and a Rotarian. His community and civic involvement includes being a board member of St. Jude Memorial Foundation as well as vice chair of various hospital fundraising committees. James has been licensed California broker since 1986.

Thuy Turner : COO, Healthcare Property Advisors

Thuy Turner COO, Healthcare Property Advisors

Thuy Turner serves as Chief Operating Officer and leads the firm’s asset management initiatives. Thuy has over 18 years in commercial real estate and has been a licensed broker since 1998.  She has extensive real estate experience in managing and leasing office, medical, and retail facilities, which allows her to bring a diversity of expertise to HPA through her previous tenures with Arden Realty, Equity Office and Schnitzer Northwest.  Thuy utilizes her dedicated background to provide oversight of the overall operations, logistics and financial performance of the company.  Thuy has a BA in Economics from the University of California, Irvine and a MBA in Business Administration from California State Fullerton.

Robert Lee : SVP - Capital Development, Healthcare Property Advisors

Robert Lee SVP - Capital Development, Healthcare Property Advisors

Robert Lee serves as Senior Vice President of Capital Development where he leads the firm's efforts in raising equity capital and structuring transactions. Prior to his current position, he was director of capital markets for Silver Portal Capital, and founder and managing partner for SIG Equity Partners, LLC, both boutique real estate banking firms with expertise in raising and structuring equity and debt investments for private and public real estate operators with institutional investors. Over the past 15 years Rob has served in various real estate investment banking, and private equity advisory roles, advising on and placing over $2 billion in real estate capital for investment across real estate operating strategies through the country. He brings a diversity of expertise to HPA through his previous tenures with investment banking and advisory firms including Bainbridge, Cohen Financial, Colliers International and Sperry Van Ness.

Rob received a BA in Business, with a concentration in Marketing, from Eastern Kentucky University and an MBA in Finance and Entrepreneurship from Pepperdine University’s Graziadio School of Management. He holds a California Real Estate Broker license, is a Certified Commercial Investment Member (CCIM), and holds a FINRA Series 22 and Series 63 license though Sandlapper Securities, LLC as an independent licensed registered representative.

Heath Clark : Director of Property Operations, Healthcare Property Advisors

Heath Clark Director of Property Operations, Healthcare Property Advisors

Heath Clark serves as the Director of Property Operations and is primarily responsible for the firm's operational departments. In this role, Heath oversees HPA’s property management, lease administration and leasing divisions to ensure the successful financial performance for the company’s portfolio and clients. Prior to his current position, he was a Senior Property Manager for Bixby Land Company where he oversaw a portfolio of high rise office and creative office assets with a diverse tenant mix. Over the past 12 years Heath has worked with a variety of property and tenant types which has led to his comprehensive experience in property operations. In addition, Heath has been an active member for industry partners and has served on various committees. He brings extensive knowledge to HPA through his previous background with property management firms including Sperry Commercial, Triple Net Properties and Grubb &Ellis.

Heath received a BA in Business with an emphasis in Management from the University of Missouri in St. Louis. He holds a California Real Estate real estate license, is a Certified Property Manager (CPM®), Accredited Commercial Manager (ACoM), California Notary Public and a member of the Institute of Real Estate Management (IREM) and the National Association of Realtors (NAR).

 

INVESTMENT ADVISORY COMMITTEE

Joe Randolph : President and CEO, The Innovation Institute

Joe Randolph President and CEO, The Innovation Institute

Joe Randolph is the President and CEO of The Innovation Institute, a for-profit LLC structured to respond agilely to the long and short-term needs of the healthcare industry. The Institute is composed of three distinct elements– an innovation laboratory, an investment fund, and an enterprise development group. Joe’s background and experience in building successful healthcare organizations, and his passion for innovation and solving complex problems uniquely qualify him for this leadership position.

Joe has over 30 years of experience in healthcare leadership and most recently served as the Executive Vice President and Chief Operating Officer for St. Joseph Health System, one of the largest multi-state Catholic healthcare systems in the country. It has 16 hospitals and over $5 billion in revenue. Prior to this position, he served as the system Chief Financial Officer for ten years. Joe demonstrated his vision and strategic focus in his guidance of the system, and was recognized as instrumental in its operational and financial success.

He has developed a reputation of accountability and integrity. He has received recognition and several awards over the years. In January 2016, he was recognized by the Orange County Business Journal as the Healthcare Business Person of the Year for the success of The Innovation Institute. Joe believes in developing strong teams and relationships. He writes articles and speaks often on innovation. He has a passion for innovation and for looking at new ways to solve complex problems facing the US Healthcare System. Joe has been a catalyst for growth, innovation and change throughout his career.

He received a Bachelor of Science in Accounting from California State University Fullerton, and a Master of Business Administration (MBA) from Pepperdine University.

Steve Gilbert : Executive Vice President and COO, The Innovation Institute

Steve Gilbert Executive Vice President and COO, The Innovation Institute

Steve comes to the Innovation Institute from a position as Senior Vice President at St. Joseph Health. Steve joined SJH as a hospital executive at St. Jude Medical Center in 1987. Promoted to the senior executive team in 1992, Steve assumed responsibilities for multiple support departments that included approximately 300 employees.

In 1998, Steve was selected to develop and implement an enterprise-wide approach to Facilities & Construction, including clinical engineering and overall capital planning at the system level.

In forming and leading the system’s Facilities & Construction Division, Steve advanced a unified strategy for the organization-wide response to the State of California’s unfunded seismic mandate and other related strategic projects, representing a multi-billion dollar capital program across the enterprise. He has overseen the design and construction of more than 4 million square feet of new and renovated acute care space in 14 SJH hospitals across California and Texas, at a total planning/construction value of more than $5.5 billion. Contrary to conventional models of healthcare construction management, Steve’s team model emphasized a broad spectrum of integrated services combined with lean workflow practices that have resulted in industry-wide regulatory change and non-linear solutions for structural retrofits.

Steve also led SJH’s real estate development strategies services, and the development, acquisition, financing and management of more than one million square feet of medical office properties. He headed multiple hospital acquisition assessment teams over the years and was instrumental in several major SJH acquisitions and dispositions. In 1999, Steve executed a system-wide technology management strategy to augment each entity’s clinical engineering and capital purchase planning, as well as help to manage the life cycle costs for high technologies.

With 33 years of experience in operational leadership within healthcare systems across most levels, Steve has a solid track record of organizational leadership and has developed a reputation for strategic vision and innovative approaches to complex challenges.

Edward Wong : Executive Vice President and CFO, The Innovation Institute

Edward Wong Executive Vice President and CFO, The Innovation Institute

Ed Wong comes to The Innovation Institute from the St. Joseph Health (SJH) system, where he served for 23 years. He serves as Executive Vice President and Chief Financial Officer (CFO) for The Institute, and as CFO for all companies under the umbrella of The Institute. His major responsibilities include accounting, financial planning, financing/banking relationships, mergers and acquisitions, internal controls, strategic direction on the finance aspect, and cash management.

As CFO for the St. Mary Medical Center (SMMC) in Apple Valley, CA, Ed was responsible for Financial Operations, including Financial Planning, Managed Care Contracts, Admitting, Revenue Cycle, and Third Party Reimbursement. He also had oversight of key areas of Health Information Systems and Financial Planning Oversight for campus expansion.

Previous to SMMC, Ed served as Controller at St. Jude Medical Center in Fullerton, CA and as VP of Finance at SJH in Orange, CA. While serving SJH hospitals, Ed was instrumental in developing strong working relationships with physicians and local medical groups, creating new physician agreements and restructuring Managed Care Agreements.

In addition to his tenure with SJH, Ed served for 9 years in controlling, accounting and auditing roles at health systems, including Healthwest and Cedars Sinai Medical Center.

Ed received a Master of Business Administration from Claremont Graduate University, and his Bachelor of Science degree in Accounting from California State University (Los Angeles). He is a committee member on the CFO Advisory panel of the California Hospital Association, a fellow with the Healthcare Financial Management Association, and a Certified Auditor with the Institute of Internal Auditors. Ed is a Board Member for the Philip Hayden Foundation, working with international/local orphanages and adoption agencies.

Barry Didato : Chief Investment Officer, The Innovation Institute

Barry Didato Chief Investment Officer, The Innovation Institute

Barry Didato serves shareholders and supports innovators to help them succeed in a rapidly changing global healthcare industry. Barry’s background and experience in investments, mergers & acquisitions and startups, combined with a global business perspective enable him to assist the Institute in reaching its highest potential in terms of volume of ideas and inventions, as well as mission, impact, value, and access to care for vulnerable populations internationally.

Barry has over 25 years of experience in due diligence, investments and M&A leadership. He previously served for 14 years as Director of Strategic Investment for the Saudi Royal Family, and their various holding companies. During his career, he has earned a values-based reputation for integrity, for creativity, and for helping deliver a continuous culture of improvement on behalf of shareholders. He has developed a global network of collaborative strategic business relationships and partnerships to help scale businesses in numerous international markets.

Barry received a Bachelor’s Degree in Environmental Design & Regional Planning from the University of Massachusetts in Amherst. He earned a Master’s Degree in Real Estate, focusing on entrepreneurial management, finance and design thinking to accelerate innovation from Harvard University Graduate School of Design in conjunction with Harvard Business School, where he was the recipient of the Aga Khan Fellowship and Gerald D. Hines Fellowship Awards.

 

ACQUISITION ANALYSIS & APPRAISAL

Paul K. Watkins : Commercial Real Estate Attorney, Watkins Blakely Torgerson LLP

Paul K. Watkins Commercial Real Estate Attorney, Watkins Blakely Torgerson LLP

Mr. Watkins’ area of expertise is real estate and contract law. He assists clients in commercial and residential developments, lease negotiations, community association documentation, construction contracts, construction loans and permanent financing, security instruments, loan arrangements and workouts.

Mr. Watkins is an active member of the State Bar of California. He is a former two-term Chair of the Orange County Bar Association (OCBA) Real Estate Law Section, served as an OCBA director, and is a former delegate to the State Bar Conference of Delegates. Mr. Watkins is a former member of the Building Industry Association and is active with the Newport Beach Chamber of Commerce where he has served as its Chairman of the Board and currently serves on the Chamber’s Executive Committee and numerous Committees and Councils.

Mr. Watkins is the former Vice Chair of the State Bar Real Property Law Section Executive Committee and the former Managing Editor of the California Closing Practices Handbook. He is a regular speaker on panels sponsored by the Continuing Education of the Bar, the State Bar and local bar associations. Mr. Watkins received his undergraduate degree (B.A.), M.B.A. and law degree (J.D.) from the University of Southern California.

James W. Prasch : Sr. Commercial Title Officer, Ticor Title Company of California

James W. Prasch Sr. Commercial Title Officer, Ticor Title Company of California

Mr. Prasch specializes in the processing of commercial title transactions, focused on efficient and timely closings. His 40 + years of experience in the title industry enables him to accurately examine the record title, determine the necessary title insurance products, and handle commercial title orders anywhere in the United States.  Mr. Prasch processes commercial, industrial, apartment and other advanced transactions, and works regularly with attorneys, government representatives at all levels, lenders and escrow officers to reach a successful closing and issuance of final title policies. He is well-versed in an array of commercial transactions including the sale and refinance of new construction, multi-unit apartment complexes, retail, hotel and office buildings.

Mr. Prasch has served at the Los Angeles County Hall of Records, and been affiliated with leading title companies across the United States,  including his current position with Ticor, the title arm of the Fidelity National Title Group (FNTG).  Through its direct operations and agencies, Fidelity National Title Group provides title insurance in 49 states, the District of Columbia, Guam, Mexico, Puerto Rico, the U.S. Virgin Islands and Canada.

John Penner : Sr. Managing Director, Valbridge Property Advisors

John Penner Sr. Managing Director, Valbridge Property Advisors

John D. Penner is a Senior Managing Director for Valbridge Property Advisors and has been in the real estate and banking fields for over 30 years. Valbridge Property Advisors is the third largest appraisal firm in the United States, with 67 offices nationwide.  He has completed assignments in many areas of the United States, including working in development and problem loans at the headquarters of Home Savings of America, the largest Savings and Loan institution in the U.S. at the time.  Mr. Penner holds an MAI designation from the Appraisal Institute and has a Bachelor of Science Degree in Finance and Investments from San Diego State University. He is a licensed Real Estate Broker, a member of the Urban Land Institute (ULI) and holds a Certificate in Real Estate Development from the ULI.

John's work consists of valuation and counseling for investment & development analysis, workout consultation, portfolio analysis, market studies, reviews, business plans, court testimony and litigation support. Clients include a combination of financial lending institutions, investors, developers, legal and government.

 

EXTERNAL ACCOUNTANTS: Moss Adams LLP

The reference to Moss Adams LLP as external accountants is for informational purposes only and is not intended to be used or relied upon by any investor or prospective investor.  Moss Adams LLP undertakes no responsibility to any investor or prospective investor regarding its services to this entity, including, without limitation, any responsibility to conduct an audit to identify fraud or mismanagement concerning this or any related entity. Moss Adams LLP’s services do not constitute due diligence regarding an investor’s or prospective investor’s investment in this or any related entity. Investors and prospect investors must conduct their own independent due diligence regarding any investment or decisions to remain in this entity or related entities. Note that Moss Adams LLP reserves the right to terminate its services at any time.