The first step MREC takes with any development is the creation of a comprehensive, line-item budget and timeline for the proposed project.  This comes after discussion with the client about practice goals and their general preferences for financing, real estate, design and equipment.  When a client intends to start a new practice, MREC helps put together the lender-required cash flow projections and business plan.  When clients express an interest in owning real estate, then an analysis of cash flows and returns is generated.  Armed with this information, our clients can make informed decisions as they decide to move forward.  As well, lenders are comforted by the level of detail they receive and by knowing that their borrowers have a sound plan for success.

Understanding your market leads to a much higher chance of financial success.  MREC assists clients with gaining this understanding by gathering and analyzing information.  Examples include demographic maps, traffic congestion and drive times, competition, benchmarks, and geographic, political or demographic boundaries, among others.  The information comes from a variety of sources, including data research, observation, interviewing, local professionals, government authorities and investigation.  With this information, as well as an understanding of the client’s desired concept, MREC can help form a strategy for a practice to acquire business.  Knowing this strategy in advance is essential for defining the parameters for the right practice location.

One of the highest priorities for any business or development is obtaining financing.  Until a commitment for funds is secured, there is often little progress that can be made beyond the basic feasibility and market research studies.  MREC helps its clients gather the information that should be presented to prospective lenders.  Then MREC recommends the appropriate lenders or broker for the project at hand, and the financial information is presented as efficiently as possible.  Half the battle is knowing which capital resources are the most appropriate for a particular project.  The other half is understanding where flexibility may be within the financing proposals, and selecting the right individuals or organizations with whom to work.  Without the information supplied by MREC, doctors might chase dead-end financing leads for extended periods of time, or overlook the most appropriate resource opportunities.  Financing must be carefully structured in such a way that it accommodates the practice development process, particularly when there is little or no upfront capital that can be placed into the project.

"Location, location, location" best summarizes the three most important criteria for a good site.  Beyond that, there are many other factors that MREC helps its clients to prioritize and seek as they pursue sites.  Aside from ensuring that potential locations will properly accommodate our clients’ space plan and/or site plan, MREC also considers convenience, accessibility, parking, visibility, appearance and affordability.  Based on experience, information and service from nearly 100 existing licensed commercial real estate brokers, we are able to effectively determine the best available sites within a short amount of time.  Our findings are not only based on information from the various available site databases, but more importantly, they are also derived from physically viewing the target areas as defined through our market research.  At the end of a typical site selection day with an MREC representative and local real estate broker, the client has gained a thorough understanding of each of these considerations.  This includes long-term site viability, market rents or values, potential occupancy costs, project budgets and challenges.  Because our clients are empowered by this collaborative experience, the parties take away a clear, agreed-upon strategy to obtain the best possible location.

Often, MREC clients want to own the location of their practice.  Several purposes can be served in this instance:

• Realizing property value appreciation over time
• Reducing or recouping rental costs
• Obtaining alternate income sources
• Amortizing financing for longer terms to ease startup cash flow
• Locating a place where an available building may not already exist
• Building a unique property that suits a client’s special purpose or brand

MREC assists clients in developing and implementing a purchase negotiation strategy that takes into consideration their financial resources and available time.  Negotiations are completed with the help of local commercial real estate brokers, 1031 tax exchange specialists, financial planners and/or attorneys.  Not only is MREC armed with the knowledge of what properties may be worth on the open market, but we also understand what they are worth to our clients.  It is critical to know that the target price range that suits our clients is completely separate from whether a particular property is priced to be a “good deal."

Developing a multi-tenant or single-tenant site can be enjoyable with an experienced guide like MREC.  Most development frustrations emanate from unanticipated pitfalls that increase costs and lengthen time spent on the project.  MREC guides its clients through the development process, whether from the initial planning before land acquisition or from the point at which our clients decide they are ready to build on a parcel they already own.  Conducting the proper research and setting realistic expectations for the development is necessary, and the team at MREC is well suited to enable clients to develop their own properties efficiently.

Our teams of professionals have negotiated thousands of leases incorporating terms specific to the needs of each unique practice.  Because we are highly specialized within our industry, we understand how lease agreements must be tailored to suit our clients’ practices.  Since we have experience in providing commercial real estate services on behalf of landlords and property owners, we are also equipped to achieve win-win lease terms that foster good landlord-tenant relationships.  We utilize the services and knowledge of locally licensed real estate brokers through the entire negotiation process.  From our experience in leasing and with extensive facilities management for healthcare practices, we know how to avoid potential occupancy problems, minimize hidden expenses and posture for successful lease renewals in the future.  Unlike traditional healthcare provider lease negotiators, we strive to create agreements that offer the flexibility needed by our clients, as well as the stability of having long terms or options. 

Because of our specialization, MREC is not only adept at interpreting clients’ space requirements, but can also suggest industry best practices and ideas for ideal space usage.  Creating multi-purpose and highly functional space plans is routine, and each of our plans is completely custom created, site specific, and not from a template.  The process starts during the budgeting phase and prior to the site selection.  With preliminary space programming discussions we can identify the correct size to accomplish client goals and within the set financial parameters.  This early integration of processes is invaluable for saving time, money and preventing unnecessary compromises.  Once a space is identified, a more detailed space programming session occurs.  In this meeting, all of the functions that are to occur within each area of the space are discussed, and this also includes discussion about how equipment and technology will be integrated within the space and the cabinetry.
 
Other items discussed include business processes and how they can be improved, accommodated or reinforced by layout and workflow.  Moving forward, the space plan design is developed and perfected until it is ready for the next phases of design, such as ceilings, elevations, cabinets and finishes.  All safety and code compliance issues and requirements are taken into consideration early to expedite the development process as much as possible.  When we are designing a complete building from scratch, the desired exterior building design and site characteristics are taken into consideration as the space is planned from the inside to the outside.

View our photo gallery to see some of our work.

Our talented designers have created many uniquely customized environments for a range of budgets.  MREC believes that its designs should be suited to our clients’ target audiences and complement their personalities, ideals or branding.  A great amount of thought goes into the design of the floor plans, with considerations for lines of sight and perspective  We also strive to create a pleasant atmosphere that will be quickly noticed by visitors.  Our team implements a variety of styles and has incorporated numerous themes ranging from urban loft to under the sea. 

While our work exhibits form, we also place a large emphasis on function.  This is especially evident in our specialization of cabinetry design.  The healthcare industry demands designs that take into consideration ergonomics, durability, multi-purpose use and cost effectiveness.  Our designs routinely accommodate the client processes, and hiding wires and integrating equipment is par for the course.

MREC’s clients have an open invitation to our Houston design studio, which houses a complete library of commercial and healthcare building products and finishes.  We are aligned with Bering and James—a Houston art gallery with a staff of artists who create, procure, prepare, frame and place art pieces fitting any budget.  As well, our resources include producers of functional art, furniture and custom cabinetry.  Access to a variety of local and national furniture dealers allows our clients a wide array of options to outfit their spaces and to have all the work coordinated by our firm.

Finally, to help clients visualize their options, we have capabilities for providing computerized three-dimensional depictions of their spaces.  Then when designs are completed, we often provide ultra-realistic renderings that can be used as presentations by our clients as their facilities are under construction. 

Visit our photo gallery to view some of our work.

Important to our healthcare clientele is built-in and mobile cabinetry that is well designed and long lasting.  In most cases, custom cabinets can be treated by the IRS the same as prefabricated cabinets.  With that, we have a keen interest in creating optimal custom cabinet designs addressing ergonomics, function, style and cost.  We ensure that each cabinet collection is designed with the most appropriate materials and finished with its purpose in mind, to last for years.  Also, whether we are assisting a client with the selection of prefabricated, manufactured cabinets, or custom designing cabinets to be constructed, we help determine the proper integration of equipment, technology and materials so there are no “second thoughts” with our clients’ projects.

Our team procures the appropriate set of architectural and engineering design documents necessary to obtain pricing and building permits and to perform construction.   This involves helping to produce the working documents, which are a combination of creative design drawings completed by our firm, architectural and engineering designs completed by locally licensed professionals, and plans and specifications by equipment, furniture, way-finding, lighting and technology vendors and manufacturers.  The creative design documents produced within our firm consist of site plans, floor plans, ceiling plans, lighting plans, cabinetry designs, elevation drawings, finish specifications and diagrams, locations of outlets for phones, computers, equipment and convenience electrical.  We also document the specifications for all fixtures, and we specify locations for gases, air, suction, lead lining or other industry specific items.  The creative plans and specifications created by our firm serve as the basis for the architectural and engineering design drawings.  The plans we procure contain appropriate details of architecture, landscaping, construction and the engineering of all mechanical, plumbing, electrical, structural and civil aspects of the project. 

Most importantly, we ensure that the final set of construction documents reflects our clients’ wishes and does not contain discrepancies between the pages provided by various contributors.  With that, we understand the dichotomy of producing construction documents that are as simple as they are detailed.  Our experience has taught us the pitfalls of including too much of the wrong kinds of detail and not enough of the right ones.  By employing MREC, our clients receive more than just a random set of architectural and engineering documents.  The smartly constructed plans give them the full benefit of our experience which inevitably results in a reduction in cost, time and stress.

MREC’s construction administration service saves our clients a great amount of time that can be used on other aspects of developing their business or for administering healthcare.   Also, our implementation of industry best practices within our construction administration service saves money and prevents mistakes.  MREC has years of experience with remotely managing projects, and the key to successfully doing so begins with good planning and selecting the right local team.  In addition, multiple site visits are made for inspecting, coordinating and supporting those who are working in the field.  Correctly building this foundation and rapport with local teams allows us to keep projects on track with reasonable travel expenses.  Also, the use of technology for documenting and communicating all aspects of our projects helps to hold everyone involved accountable for their roles.  Our goal is to deliver a building product that is constructed to the level of quality and expectation required to appropriately complement the design.  Last, we strive to minimize the stress associated with developing new facilities as much as possible, by avoiding problems and by being there when our clients need us.

Our project management service is comprehensive, in that it not only encompasses the administration of construction, but also leads our clients through the procurement of equipment, furniture, fixtures and services, tracking and approving project expense payments, and all other general coordination that happens once a real estate transaction is executed and it is time to move toward opening.  Having one entity to “quarter-back” this process generally makes projects run more smoothly.  Whether responsibilities lie with lenders, architects, landlords, sellers, general contractors or vendors, our project management team provides the appropriate party with friendly reminders of lead times for ordering and arranging products and services so that the projects culminate with a finished product— the working facility.  Most of all, we make sure our clients' expectations are met without incurring unnecessary additional costs.

Many purchases must be made for the development of a healthcare facility.  It is extremely difficult for doctors to be certain that each purchase is optimal in the grand scheme of building their practice when there is so much to be considered, let alone making sure that each purchase price is fair or advantageous.  Working with MREC on the purchases of all fixed-asset items and services allows our clients the advantage of working with an experienced company that has made these same purchases numerous times before.  Since many doctors will purchase only a few large-ticket items within the life of their practice, why not huddle with someone who assists with the purchase of such devices on a regular basis? 

The team at MREC directs its clients to the appropriate vendors, dealers and manufacturers, and we are able to help specialist clients who need to assemble equipment from a number of direct-purchase sources.  We do not directly pay for or resell items purchased by our clients, as our clients’ money does not flow through our company.  Instead, we recommend and negotiate purchases for our clients, and then we arrange and account for payments from our clients’ lenders to their vendors.  Very often our clients are able to take advantage of industry discounts available to our customers.  The bottom line of our purchase guidance services is very simple.  Rather than profit from sales made to our clients, we profit from ensuring that our clients’ needs are met within their budgets and timeframes.  This is because our business is primarily built upon referrals.

MREC guides its clients on the implementation of the appropriate, cost effective insurance policies as they pertain to project development.  There are multiple parties that must be protected from a variety of risks, and care must be taken to make sure each risk is covered, and that each of the parties is correctly listed, coverage is placed timely, and that unnecessary coverage and costs are avoided.  Determination of qualified, reputable carriers is extremely important, and having this service integrated with the management of real estate transactions and construction saves our client’s time and can ultimately reduce their exposure to risk.

MREC assists its clients with implementing their desired level of information technology and communications into their practice at the appropriate time—whether during the initial office development phase or at some planned point in the future.  Our resources provide individualized consulting and hands-on installation and integration of new phone systems, computers, hardware and software systems, networks, image management, digital radiography, sensors, and intra and extra-oral cameras.  We help clients choose the right equipment for their practice, and we ensure that it is installed correctly.  Further, MREC assists its clients with selecting and implementing agreements with the most appropriate service providers for voice, data, audio and video.  Our recommendations offer clients additional confidence in their purchase decisions, preventing them from investing great amounts of time researching the latest technology.

Recent IRS rulings allow commercial property owners to use shorter lives and accelerated methods for computing depreciation for tax purposes. This new application includes all categories of buildings purchased or built since 1986—new, existing or renovations.  The increased depreciation is used as a deduction against ordinary income at higher tax rates, and many MREC clients are surprised to learn how many aspects of their projects can be depreciated on shorter timelines similar to the way their equipment and built-in cabinetry are treated.

The potential for an immediate increase in cash flow from reduced taxes can be significant, and MREC utilizes third-party experts to help its clients maximize savings.  Our clients use their own CPA or tax attorney to complete the appropriate tax forms using the depreciation provided from our study.