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3 articles
- Medicare Site-Neutral Payment Is Repricing Medical Office Real Estate
Medicare site-neutral payment reform is segmenting medical office real estate by site of service. Provider revenue resets immediately, while rent adjusts at lease renewal. On-campus outpatient and ASC-anchored properties gain relative value; off-campus hospital infusion and imaging properties face weaker retention, renewal spreads, and wider cap rates.
- The Infrastructure Tax on Supply Chain Fragmentation
Economic rent in multi-shoring corridors accrues to the non-replicable physical nodes — power interconnection, cross-border rail, dry ports, bonded zone licenses — that gate factory operations, not to the factories themselves. The mechanism is a build-time asymmetry: factory capacity scales linearly with capital, while chokepoint capacity scales in discrete increments gated by permitting, land acquisition, and sovereign approval.
- The Friendshoring Infrastructure Yield Curve
Friendshoring returns accrue to power infrastructure, transformers, grid access, and logistics nodes—not factories. The key scarcity is electrical capacity.