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Prospect and Mulk Properties officially launch The LX – AED350mln Premium Commercial Development in Arjan, Dubai
Prospect and Mulk Properties officially launch The LX – AED350mln Premium Commercial Development in Arjan, Dubai

Zawya

time2 days ago

  • Business
  • Zawya

Prospect and Mulk Properties officially launch The LX – AED350mln Premium Commercial Development in Arjan, Dubai

Dubai, UAE – In a strategic move to address Dubai's growing demand for premium commercial spaces, Prospect, in partnership with Mulk Properties, has officially launched The LX – a landmark AED 350 million boutique office and retail development in Arjan, one of the city's most dynamic and rapidly expanding districts. One Broker Group (OBG) will be the exclusive sales partner for the project which was unveiled at a high-profile launch event at the Waldorf Astoria, Palm Jumeirah. Set for handover in Q3 2027, The LX features 71 premium boutique office units and 2 curated retail spaces, offering modern businesses and discerning investors a rare opportunity to own commercial assets in a location experiencing unprecedented growth. With demand for flexible, high-specification office spaces at an all-time high in Dubai, The LX is positioned to fill a significant gap in Dubai's evolving commercial real estate sector. Mulk Properties, known globally for projects like Zim Cyber City and the Ajman Sports Complex, brings international development expertise and long-term vision to the partnership. 'The LX marks our strategic entry into Dubai's commercial property segment, and we've done so with intention and insight,' said Nawab Shaji Ul Mulk, Chairman of Mulk International. 'Our focus has always been on high-impact, future-proof developments. With Arjan's explosive growth and limited premium office supply, The LX provides the kind of asset that can define the district. Together with Prospect and OBG, we're setting a new benchmark for what boutique commercial development in Dubai should look like.' The launch comes at a time when Dubai's commercial market is seeing a paradigm shift—away from generic office towers toward purpose-built, design-led spaces that prioritize community integration, functionality, and long-term investment value. Arjan, as a well-connected and increasingly sought-after destination, ticks all these boxes, making it the ideal location for Prospect's newest venture. 'The LX isn't just another commercial development—it's a targeted solution to an urgent market demand,' said Rajat Verma, Co-founder of Prospect. 'Our goal has always been to develop where demand is real and rising. As Dubai grows, so does the need for smart, well-located business infrastructure. Arjan is on the cusp of a commercial renaissance, and The LX will be at the forefront of that transformation. This project exemplifies Prospect's vision of delivering high-return assets in high-potential areas.' With One Broker Group leading the exclusive sales mandate, The LX is already drawing strong interest from investors, SMEs, and entrepreneurs looking to establish themselves in a growth-focused location with excellent ROI potential. 'What sets The LX apart is not just its design or pricing—it's how perfectly it aligns with the market's future,' said Umar Bin Farooq, Founder & CEO of One Broker Group. 'We're witnessing a major shift in how commercial real estate is being utilized in Dubai. Businesses want flexibility, quality, and connectivity. Arjan offers all three, and The LX delivers on them at a premium standard. We're proud to represent a development that understands what the market truly needs.' With direct access to major highways, Al Barsha South, Jumeirah Village Circle, and Dubai Science Park, Arjan is one of the few remaining zones offering centrality without congestion. With thousands of new residential units being delivered, the demand for adjacent commercial infrastructure is rising sharply. The LX directly supports this growth by offering a professionally designed, investor-grade asset that balances prestige with practicality. Project Highlights AED 350 million premium commercial development 71 boutique office units & 2 curated retail spaces Contemporary architecture with refined interiors and balconies Dedicated F&B and retail zones Seamless highway access and proximity to key residential hubs Handover expected: Q3 2027 Unit prices starting AED 2 Million onwards With the UAE's commercial real estate sector projected to exceed AED 207 billion by 2030*, The LX is more than timely—it's essential. The project exemplifies how visionary partnerships between leading developers and expert sales strategists can reshape Dubai's commercial real estate future. About Prospect: PROSPECT is a forward-looking real estate investment and development firm specializing in joint ventures, land acquisitions, and turnkey solutions. Established in 2023 with a net worth of AED 2 billion, it is fully licensed and regulated by the Dubai Land Department and RERA. Founded by four seasoned industry leaders, PROSPECT brings together over seven decades of collective real estate experience across Dubai, Ras Al Khaimah, and Abu Dhabi. The team delivers value to developers by managing the entire project lifecycle from land identification to handover. The company is distinguished by its transparency and dedication to delivering exceptional client service. Driven by integrity, innovation, and excellence, PROSPECT creates spaces that align with evolving lifestyles and offer smart investment opportunities across the UAE. About Mulk Properties: Mulk Properties, a subsidiary of Mulk International, drives the group's real estate ventures with a focus on quality and innovation. Mulk International, established in 1982 and headquartered in Sharjah's Hamriyah Free Zone, is a global conglomerate with operations across Europe, the U.S., Africa, India, and the Middle East. Its diverse portfolio is recognized for its impact and scale, the group ranks #7 on Forbes' Top 100 Indian Companies in the Arab World and #8 on Arabian Business' Most Admired Companies in the GCC. About One Broker Group: An award-winning real estate agency focused on selling prestigious and renowned residential properties in the UAE - One Broker Group (OBG) will be exclusive sales partner for The LX. One Broker Group stands as Dubai's most distinguished real estate powerhouse, providing end-to-end solutions for prestigious residential & commercial properties across UAE's most coveted addresses. Our excellence is validated by the Dubai Land Department's recognition as the highest-performing brokerage for transactions in 2022. We excel through record-setting performances, ensuring every market decision drives maximum value for our clients. Our unique capability to generate interest in our exclusive projects through our extensive 10,000+ partner network and more than 150 expert in-house brokers is the core of the enormous value we add to our customers.

Dubai real estate: Prospect, Mulk Properties launch AED350mn premium commercial development in Arjan
Dubai real estate: Prospect, Mulk Properties launch AED350mn premium commercial development in Arjan

Arabian Business

time2 days ago

  • Business
  • Arabian Business

Dubai real estate: Prospect, Mulk Properties launch AED350mn premium commercial development in Arjan

Prospect, in partnership with Mulk Properties, announced the launch of The LX, an AED 350 million boutique office and retail development in Arjan. Set for handover in Q3 2027, The LX features 71 premium boutique office units and two curated retail spaces. Unit prices in the project will be starting from AED2 million, the companies said. With demand for flexible, high-specification office spaces at an all-time high in Dubai, The LX is positioned to fill a significant gap in Dubai's evolving commercial real estate sector, the companies said. 'The LX marks our strategic entry into Dubai's commercial property segment, and we've done so with intention and insight,' said Nawab Shaji Ul Mulk, Chairman of Mulk International. 'With Arjan's explosive growth and limited premium office supply, The LX provides the kind of asset that can define the district,' he said. Rajat Verma, Co-founder of Prospect, said the project will be targeted solution to an urgent market demand. 'Our goal has always been to develop where demand is real and rising. Arjan is on the cusp of a commercial renaissance, and The LX will be at the forefront of that transformation,' he said. The launch comes at a time when Dubai's commercial market is seeing a paradigm shift – away from generic office towers toward purpose-built, design-led spaces that prioritize community integration, functionality, and long-term investment value. Arjan, as a well-connected and increasingly sought-after destination, ticks all these boxes, making it the ideal location for Prospect's newest venture, the companies said. One Broker Group (OBG) will be the exclusive sales partner for the project. The companies said their project is already drawing strong interest from investors, SMEs, and entrepreneurs looking to establish themselves in a growth-focused location with excellent ROI potential. With direct access to major highways, Al Barsha South, Jumeirah Village Circle, and Dubai Science Park, Arjan is one of the few remaining zones offering centrality without congestion.

Prospect, Mulk unveil 71-unit boutique office, retail project in Dubai
Prospect, Mulk unveil 71-unit boutique office, retail project in Dubai

Trade Arabia

time3 days ago

  • Business
  • Trade Arabia

Prospect, Mulk unveil 71-unit boutique office, retail project in Dubai

Prospect, a leading real estate developer, has joined hands with Mulk Properties, for the official launch of its boutique office and retail development - The LX - within Arjan community in Dubai featuring 71 office units and two curated retail spaces. The new project comes in line with its strategic move to address Dubai's growing demand for premium commercial spaces. One Broker Group (OBG) will be the exclusive sales partner for the project which was unveiled at a high-profile launch event at the Waldorf Astoria, Palm Jumeirah. A landmark project being set up at an investment of AED350 million ($95.2 million), the LX features 71 premium boutique office units and 2 curated retail spaces, offering modern businesses and discerning investors a rare opportunity to own commercial assets in a location experiencing unprecedented growth. Set for handover in Q3 2027, The LX X is positioned to fill a significant gap in Dubai's evolving commercial real estate sector. Mulk Properties, known globally for projects like Zim Cyber City and the Ajman Sports Complex, brings international development expertise and long-term vision to the partnership. "The LX marks our strategic entry into Dubai's commercial property segment, and we've done so with intention and insight," said its Chairman Nawab Shaji Ul Mulk. "Our focus has always been on high-impact, future-proof developments. With Arjan's explosive growth and limited premium office supply, The LX provides the kind of asset that can define the district. Together with Prospect and OBG, we're setting a new benchmark for what boutique commercial development in Dubai should look like," he stated. The launch comes at a time when Dubai's commercial market is seeing a paradigm shift - away from generic office towers toward purpose-built, design-led spaces that prioritize community integration, functionality, and long-term investment value. Arjan, as a well-connected and increasingly sought-after destination, ticks all these boxes, making it the ideal location for Prospect's newest venture. "The LX isn't just another commercial development - it's a targeted solution to an urgent market demand," said Rajat Verma, Co-founder of Prospect. "Our goal has always been to develop where demand is real and rising. As Dubai grows, so does the need for smart, well-located business infrastructure. Arjan is on the cusp of a commercial renaissance, and The LX will be at the forefront of that transformation. This project exemplifies Prospect's vision of delivering high-return assets in high-potential areas," he stated. With One Broker Group leading the exclusive sales mandate, The LX is already drawing strong interest from investors, SMEs, and entrepreneurs looking to establish themselves in a growth-focused location with excellent ROI potential. "What sets The LX apart is not just its design or pricing - it's how perfectly it aligns with the market's future," said Umar Bin Farooq, Founder & CEO of One Broker Group.

Phillies minors notes: Aidan Miller trusted his plan, Seth Johnson's bullpen move and more
Phillies minors notes: Aidan Miller trusted his plan, Seth Johnson's bullpen move and more

New York Times

time3 days ago

  • General
  • New York Times

Phillies minors notes: Aidan Miller trusted his plan, Seth Johnson's bullpen move and more

Phillies No. 2 prospect Aidan Miller tinkered with the basics when struggling at the plate last season: his leg kick, where to start his hands, his stance. Nothing major, but enough messing around to worsen his problems. So when Miller batted .203 over 19 games in April for Double-A Reading, he did not hit the panic button again. He trusted his plan at the plate. Advertisement 'Not trying to change too much with my swing, mechanical-wise or anything, just going out there every single day and treating it like a new day — it really helped me get out of that,' Miller said. The 20-year-old shortstop, the Phillies' top pick in the 2023 MLB amateur draft, has emerged stronger. Miller is slashing .247/.329/.356 with a .685 OPS across 20 games in May, riding a 10-game hitting streak through Saturday. He knows slumps happen to everyone. He stayed the course. There was no big turnaround. Balls that previously went straight to the defense started to fall, Miller said, lifting a mental weight. AIDAN MILLER🤩 — Reading Fightin Phils (@ReadingFightins) May 17, 2025 The Phillies took a swing on Miller, a top high school hitter who fell to No. 27 in the 2023 draft after missing much of his senior season with a hamate fracture in his left hand. Their belief paid off as Miller ascended from Low-A Clearwater to Double-A Reading last season, posting an .811 OPS and tallying 45 extra-base hits while earning a spot in the Futures Game. And, even as Miller worked through struggles in April, he walked 11 times and reached base in 16 consecutive games. Miller went from playing four to five games a week in 2024 to six days a week now. Health is his top priority with greater playing time, so he's focused more on routine: eating healthy, hitting the weight room, treating soft tissue when needed. Keeping this routine has gotten easier with time. So has trusting himself at the plate. Both have paid dividends. Triple-A Lehigh Valley right-hander Seth Johnson has a nice two-pitch mix and compelling stuff — part of why the Phillies moved him to a bullpen role in April. But it's his flexibility that stands out most to Triple-A manager Anthony Contreras. Advertisement 'Once you have a starter come out to the bullpen, that type of utility in a pitching role is going to be valuable for him going forward,' Contreras said. 'Just being able to make that adjustment that quickly is probably the most impressive thing.' Johnson, drafted 40th by Tampa Bay in 2019, has made flexibility central to his career. He pitched with the Rays organization for four years before being traded to the Orioles in August 2022. After two seasons in Baltimore's system — a significant chunk of it spent recovering from Tommy John surgery — he was sent to the Phillies as part of the Gregory Soto trade last July. So, when Contreras called Johnson into his office when the IronPigs were in Gwinnett in April, Johnson figured he was being traded again. 'I was relieved at first,' the right-handed pitcher said. 'I didn't have to go pack up all my stuff again. I knew moving to the bullpen was a possibility this year, so it was kind of nice hearing it early in the year.' It's a move the Phillies believe gives Johnson a better chance to make an impact in the big leagues. He hasn't appeared for the Phillies since he debuted with a spot start against the Miami Marlins in September 2024. It did not go well. He allowed nine runs and walked three batters, becoming just the second MLB pitcher to post those numbers in his debut — and the first since 1912. His big-league ERA sits at 34.71 in 2 1/3 innings. Contreras said the club hoped that shifting Johnson to shorter outings would up his velocity. 'With the big arm, not having to pitch five, six, seven innings every fifth day, he's able to kind of blow it out — put everything he has into one, two, maybe three innings depending on how we use him,' Contreras said. 'He seems to be adjusting well.' Before Johnson moved to the bullpen, he'd been a reliever just once: at Campbell University, playing in the Big South conference tournament in May 2019. There's not much to take away from that short-lived stint. The biggest learning curve, he said, is being ready all the time. Johnson has been following everyone else's lead in the pen: moving in the third or fourth inning and staying loose. But he's felt more comfortable with time, finding that he doesn't need an hour to get ready to pitch. Fifteen throws will do. Advertisement The decision to transition Johnson was made before reliever José Alvarado's 80-game PED suspension, which has elevated the importance of bullpen help for the Phillies. But control remains an issue for Johnson and would need to improve before a call-up. He's averaging 5.91 walks per nine innings — mostly a result of walking a combined 10 batters across three starts in April. The numbers have somewhat improved, as he's walked four batters and hit one across 8 2/3 innings in May. • There was no stumble from pitcher Mick Abel as he returned to Lehigh Valley after his nine-strikeout debut for the Phillies on May 18. He loaded the bases after two walks, a single and a force-out in the first inning Saturday against the Buffalo Bisons, but escaped with one run scored. Abel went on to strike out eight, walk four and allow three hits in six innings. Abel's breakout 2025 comes after a difficult 2024 in which he lost command en route to a 6.46 ERA. He simplified his approach to pitching over the offseason, which proved key to earning his first big league call-up. 'With time and age comes experience and maturity, and that plays into success,' Contreras said. 'I think he's reaping the benefits of making the adjustments going into this year.' • Top 2024 Phillies draft picks have struggled to find their footing this season with Low-A Clearwater. Outfielder Griffin Burkholder, a second-round selection, has had limited at-bats due to hamstring injuries. He and first-rounder Dante Nori are both searching for power. Burkholder's average exit velocity: 85.1 mph. Nori's? 86.7 mph. The average exit velocity for tracked pitches in Low A this season is 87.3 mph. • Reliever Tommy McCollum struck out a Double-A season-high three in two innings in Portland on May 25 and leads Reading with a 0.96 ERA. The undrafted righty has thrown more strikes this season, though his pitches sit at 93 mph. But his size and the pitches looking harder than they actually are have been enough to confound batters. The 25-year-old, who moved to Double A earlier this month, could reach Triple-A this season if he keeps it up. • Another undrafted standout: Double-A outfielder Keaton Anthony. The 23-year-old was ensnared in a gambling scandal as a college baseball player at Iowa, though he faced no charges. The Phillies signed him in July 2023, and Anthony has excelled ever since. He's hitting .321/.384/.507 with a .891 OPS in 37 games with Reading this season. Advertisement • Low-A closer Titan Hayes has shown flashes this season, working his way to a 2.12 ERA — and 0.00 in nine innings in April — and six saves. The 2024 11th-rounder's fastball sits at 97 mph, though he's struggled to throw consistent strikes. Should he stay the course, a High-A promotion could pose a good test in June or July. — The Athletic's Matt Gelb contributed to this report. (Top photo of Aidan Miller: Mitchell Leff / Philadelphia Phillies)

Private equity created a ‘nightmare' in CT hospitals, staff say. Lawmakers seek to prevent a recurrence
Private equity created a ‘nightmare' in CT hospitals, staff say. Lawmakers seek to prevent a recurrence

Yahoo

time6 days ago

  • Business
  • Yahoo

Private equity created a ‘nightmare' in CT hospitals, staff say. Lawmakers seek to prevent a recurrence

Connecticut lawmakers and officials are seeking through several proposed bills to restrict private equity's role in Connecticut hospitals. But there are differences of opinion of how far regulations should go. 'We've all seen what can go wrong when private equity is allowed to strip mine our local hospitals and health care institutions,' said Attorney General William Tong. 'And we've seen growing challenges with access and affordability of care due to unprecedented levels of consolidation in health care delivery in Connecticut.' Tong added, 'there is no question that Connecticut can and should strengthen oversight and transparency around these transactions and acquisitions.' Gov. Ned Lamont said in an email that the state needs to have a role in overseeing large financial transactions involving health care practices and facilities 'to ensure the crucial services these facilities provide continue to be readily available for our residents.' The governor said there has been a real change in how the health care system is being operated with an increased share owned or managed by out-of-state, for-profit companies. 'By updating our laws, we can enable the state to have proper oversight of significant health system transactions and ensure that our systems continue to provide quality, accessible, and affordable health care for all,' the governor said. Sen. Saud Anwar, Senate chairman of the Public Health Committee, adamantly wants to restrict private equity firms from buying hospitals in the state. Under one bill, private equity could hold only a minority role in the outpatient setting, an arrangement which would require a management agreement with medical groups. 'I think passing these bills is the responsible thing to do under the current circumstances where we have three hospitals that have been bankrupted by private equity and also the infrastructure of radiology services in the state of Connecticut has been harmed by private equity,' Anwar said. 'So much more harm to our patients has happened through private equity takeover of health care entities.' The impact of private equity in health care has been on display in Connecticut recently as Prospect Medical Holdings, a private equity company, filed for Chapter 11 bankruptcy this past January. An investigation of the United States Senate Committee on the Budget conducted last year that included Prospect found that private equity in health care prioritized profits over patient care. Prospect, which operates Manchester Memorial, Rockville General and Waterbury Hospital, has faced fiscal challenges in many of its hospitals in the state, from delayed payments to physicians and vendors to a shortage of health care providers. Private equity regulation There are currently four bills regarding private equity up for consideration by the state legislature. SB 1507 prohibits private equity companies and real estate investment trusts from acquiring or increasing direct or indirect ownership interest in or operational or financial control over a hospital or health system, according to the bill's analysis. The analysis states that the bill also requires the Office of Health Strategy to evaluate whether the attorney general should be allowed to petition the Superior Court to appoint a receiver to manage hospitals in financial distress or operational crisis. HB 6873, the governor's bill, which focuses on the strengthening of the review of health care entity transactions, would expand the list of transactions that require prior notice to the attorney general, according to the bill's analysis. It requires parties to give notice for a material change transaction or a series of them over a five-year period involving a health care entity with total assets or annual revenues or anticipated annual revenues of $10 million or more, the analysis states. This notice is required for private equity entities, but not venture capital firms exclusively funding start-ups or other early-stage businesses, the analysis further explains. Material change transactions include a corporate merger, the acquisition of 20% or more of an entity's assets or operations or the formation of certain types of entities such as a management services organization for the purpose of administering contracts with providers, carriers or certain others, according to the bill's analysis. 'We have an opportunity to have a look at some of the transactions which could result in the challenges with monopoly of the market,' Anwar said. 'We need to look at some of those aspects. Also a part of the bill is the restriction of insurance companies to own practices.' Other bills related to private equity include HB 7050 and SB 1539, which refer to the modification of the state's Certificate of Need program for health care entities. Those programs are administered by the Office of Health Strategy and Health Systems Planning Unit. HB 7050 would allow the HSPU to implement an expedited CON review process for applications for services, facilities or equipment that address an unmet need in the applicant's geographic area, according to the bill's analysis. SB 1539 also requires CON approval if a private equity company acquires a controlling interest in a health care facility, the analysis states. Anwar cites one important aspect of the bill which prohibits the HSPU from granting a request for intervenor status in any public hearing for a group practice's CON application. 'If some small group practice is going to open we don't want intervenor status for large hospitals,' he said. 'That is reducing opportunities for entrepreneurship because we are seeing clinicians leave our state.' Prospect The call to restrict private equity is in response to the effect of Prospect Medical Holding's impact on its three hospitals, leaving state officials raising concerns about profits being maximized over patient care. The state Office of Health Strategy's latest Annual Report on the Financial Status of Connecticut's Short Term Acute Hospitals found that Prospect lost $86.4 million in Fiscal year 2023. In 2022, Yale New Haven Health agreed in a tentative agreement to purchase Prospect's three hospitals for $435 million but that deal has been bogged down in lawsuits and Yale recently said the deal was no longer possible due to 'mismanagement.' Meanwhile, bids are open for all three hospitals with a deadline of May 18. In the meantime, nurses and unions at several of Prospect's hospitals in the state have told the Courant that their hospitals have been decimated, with some worried about the quality of care as they wait for a new owner to purchase the hospitals. Ed Gadomski, Connecticut Healthcare Associates Internal Union Organizer, who represents the nurses and technicians at Waterbury Hospital, says almost all of its departments are understaffed with nursing-to-patient ratios well over the appropriate levels set by the Hospital Staffing Committee, which he has filed a complaint with the Department of Public Health that the hospital is violating the Hospital Staffing Law. He has yet to hear from DPH on the matter, he said. He added that antiquated supplies are used to treat patients and the Operating Room has a 50% vacancy rate. 'If they bring in another private equity owner, I believe there will be a mass exodus of staff because no one is going to stick around for a second nightmare,' Gadomski told the Courant. 'Private equity in our eyes are all the same. They prioritize profits over patient care.' Gadomski said due to the understaffing it raises the risk of medical errors occurring, a major concern that is often on the forefront of his mind. Zirui Song, associate professor of health care policy and medicine at Harvard University and Massachusetts General Hospital, said staffing cuts have been a common strategy after private equity acquisition of acute care hospitals. 'We believe from the academic standpoint, one of the primary explanations behind the findings of increased patient harm and increased transfer of patients to other hospitals and the reduced capacity to deliver care on the front line is the staffing cuts,' he said. In an article in JAMA collaborating with several other doctors, Song found that based on an observation of 10,091 hospitalizations, 'Medicare beneficiaries admitted to private equity hospitals experienced a 25.4% increase in hospital-acquired conditions compared with those treated at control hospitals.' The article found there was also a 27.3% increase in falls and a 37.7% increase in central-line bloodstream infections at private equity hospitals. 'On balance the evidence on private equity acquisitions of hospitals to date shows that these acquisitions are associated with increased hospital profitability, increased hospital charges, increased preventable patient harm and reductions in staffing,' Song told the Courant. Sale leaseback agreements Rep. Matt Blumenthal, D-Stamford, co-chair of the Government Administration and Elections Committee has also raised concerns about private equity, with the Government Administration and Elections Committee passing a bill that would ban the licensing of health care entities that have engaged in sale leaseback transactions involving a hospital. Anwar said he expects to include language from that bill in the final bills on private equity. In 2018, Prospect, then majority-owned by private equity firm Leonard Green & Partners, took out a $1.1 billion loan to fund a $457 million dividend for its executives and investors, the CT Mirror reported. The following year, to pay for the loan, Prospect sold the land and buildings from hospitals it owns in Connecticut, California and Pennsylvania to Medical Properties Trust for $1.4 billion, then leased back those hospitals from the trust, CBS News reported as cited by the CT Mirror. Medical Properties Trust, a publicly traded real estate investment trust, or REIT, has built a $19 billion business on transactions like the one with Prospect, known as 'sale-leasebacks,' the CT Mirror reported. 'I do not think there is any conceivable way that any sale leaseback transaction could benefit the provision of health care in a hospital setting,' said Blumenthal. 'The only possible effect of the transaction is to load up the health care owner with debt to extract profit from the hospital at the hospital's expense.' Massachusetts passed a law in 2024 that restricts the main campus of a hospital from being sold to a real estate investment trust. Restricting private equity Business owners and corporations have concerns about the complete restriction of private equity in health care. While the Connecticut Hospital Association said in a statement that 'unregulated private equity has led to negative outcomes in the state' it also cautioned that any 'solution should avoid unintended consequences, such as discouraging modest yet important investments that can support and sustain health care delivery in Connecticut.' Dr. Joe Cappa, a board certified gastroenterologist, wrote in his testimony in opposition to SB 1507 that the bill 'poses an existential threat to the continued existence of independent practices like mine.' 'The moratorium on future investment would ultimately lead to independent practices like mine selling to hospitals,' he said. 'This is the exact opposite of what the state needs.' Amanda Gunthel, president of the Connecticut Association of Ambulatory Surgery Centers, wrote in her testimony against SB 1507 that the bill 'could make it incredibly challenging to respond to the tightened credit markets and high interest rates that continue to negatively impact the health care industry.' Anwar said he expects the bills to come before the legislature in the next two weeks. The CT Mirror contributed to this report.

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