Hospitals, health systems and academic medical centers that select Landmark to develop, own and manage their new outpatient buildings are able to achieve significant control over the design, development, construction, ownership and management of their buildings.
Selection of the Principal Architect
Landmark outsources the preparation of its schematic and design development drawings and construction documents to architectural firms that specialize in the design of outpatient buildings and other healthcare facilities.
Landmark obtains advance concurrence from its clients on the selection of the principal architect.
Additional Architectural Controls
Landmark obtains advance concurrence from its clients on the conceptual design of their outpatient buildings and the selection of the interior and exterior materials.
The schematic and design development drawings and construction documents are submitted to the clients of Landmark for their advance review and approval.
Selection of the General Contractor
Landmark outsources the actual construction of its outpatient buildings to local and regional general contractors who demonstrate significant financial strength and the ability to perform construction work of the highest quality. Relevant experience in the construction of outpatient buildings is also an important consideration. The ability to provide performance and payment bonds is another important consideration.
Landmark obtains advance concurrence from its clients on the selection of the general contractor.
Requirement for Medical Staff Membership
The ground lease, space leases, ownership agreements and other documents that govern the ownership of the outpatient buildings that are under the ownership of Landmark prohibit the execution of leases with physicians who are not able to qualify for staff membership.
Operating Controls / Non-Competes
The ground lease, space leases, ownership agreements and other documents that govern the ownership of the outpatient buildings that are under the ownership of Landmark prohibit the execution of leases with physicians and other healthcare providers who compete with the clients of Landmark.
Right of First Refusal to Lease Vacant Space
Landmark grants a Right of First Refusal to its clients to lease all the vacant space in their outpatient buildings.
Limitation on Increases in Rental Rates
Increases in the triple net rental rates for the outpatient buildings that are under the ownership of Landmark are limited to an amount that is mutually acceptable to Landmark and its clients.
All increases in operating expenses are passed through to tenants, and there is no profit or markup for Landmark.
Right of First Refusal to Acquire Outpatient Buildings
The ground leases and other documents that govern the operation of the outpatient buildings that are under the ownership of Landmark give the clients of Landmark the Right of First Refusal to acquire their buildings, in the event that Landmark considers the sale of their buildings at some future time.
Building Signage and Naming Rights
The clients of Landmark maintain complete control over the building signage and naming rights for their buildings.
Marketing Materials for Physician Office Space
The term sheets, brochures and other materials Landmark prepares and submits to staff physicians who express an interest in leasing office space in the outpatient buildings of Landmark are submitted to the clients of Landmark for their advance review and approval.
Ethical and Religious Directives
Whenever applicable, the ground lease, space leases and other documents that govern the ownership and operation of the outpatient buildings that are under the ownership of Landmark restrict the operation of the outpatient buildings to activities that are permitted under the “Ethical and Religious Directives for Catholic Healthcare Facilities,” as adopted by the U.S. Catholic Conference of Bishops.