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In this episode of the Commercial Real Estate Podcast, hosts Aaron Cameron and Adam Powadiuk welcome Mike Brady, President of Northwest Healthcare Properties REIT, for a deep dive into the rapidly evolving healthcare real estate sector. From the transformation of medical office buildings into advanced healthcare campuses to the impact of demographics and government spending, Brady shares insights into why healthcare real estate is one of the most resilient and attractive real estate asset classes today. Listeners will learn about tenant dynamics, global market differences, and the strategic opportunities shaping Canada’s healthcare property landscape for long-term investors.

What you will learn:

• How specialized healthcare real estate differs from traditional medical office buildings 


• Why healthcare real estate has become the largest asset class for publicly traded REITs 


• The economics driving the shift from traditional hospitals to community-based outpatient and surgical centers


• How international markets like Australia and Europe are 20-30 years ahead of Canada in healthcare real estate institutionalization


• Why healthcare real estate maintains 90% tenant retention rates and 3% annual NOI growth


• The role of public-private partnerships in expanding healthcare infrastructure and delivery models across Canada


• How specialized building requirements and tenant relationships create high barriers to entry in healthcare real estate


• Why government healthcare spending and demographic trends point to continued growth in the sector


• The opportunities emerging in key Canadian markets, including Ontario, Quebec, and Alberta, for healthcare real estate investment


• The importance of understanding different healthcare delivery models globally to identify real estate opportunities

Mike Brady is President of Northwest Healthcare Properties REIT, a global leader in healthcare real estate investment and management across seven countries. Since joining Northwest in 2006, he has held senior roles, including Executive Vice President and General Counsel, before becoming President in 2023. With over two decades of experience spanning real estate investment, finance, governance, and global leadership, Brady has played a pivotal role in expanding Northwest’s portfolio of specialized healthcare facilities. He holds a joint LL.B./MBA and a BA in Economics from Dalhousie University.

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