Baptist Memorial Health Care Corporation (BMHCC) has long been committed to delivering high-quality care to communities across Mississippi, Tennessee and Arkansas As patient demand for specialized services and modern facilities continued to rise, BMHCC recognized a need to expand its capacity
To achieve this, BMHCC turned to Boldt Real Estate a trusted partner with the capital strength, healthcare expertise, and hands-on development approach to deliver large-scale, complex healthcare facilities Together, they executed two transformative on-campus medical office building (MOB) projects at the DeSoto and Madison campuses, designed to improve patient access, support physician growth, and strengthen the health system’ s longterm market position
Project #1
BMHCC DeSoto Campus
The DeSoto MOB was the first major project between Boldt and BMHCC, setting the tone for a collaborative and results-driven partnership. Designed as a multi-specialty hub, the building brought together cancer care, urgent care, imaging, and primary care services under one roof
Boldt’ s flexible ownership structure allowed physician stakeholders to invest in the facility, aligning incentives and creating a shared commitment to its success This financial model minimized downside risk for providers while ensuring BMHCC could expand capacity without overextending its capital resources
Facility: Multi-specialty MOB
Project Value: $55M
Location: Southaven, MS
Size: 89,000 SF
Role: Owner / Developer
Project #2
BMHCC Madison Campus
The Madison MOB transformed a vacant site into a high-visibility, growth-ready healthcare facility strategically located along I-55 This prime location allows BMHCC and its physician partners to serve both the rapidly growing Madison, MS market and patients in the broader Jackson area.
Despite unprecedented inflation and material shortages during the design and construction phases, Boldt delivered the building on time and on budget maintaining the original rental rates promised to tenants Strategic shell space was incorporated into the design to accommodate future expansion of primary and specialty care services, ensuring the facility can evolve alongside community needs.
Facility: Class A, multi-tenant MOB
Project Value: $35M
Location: Madison, MS Size: 97,650 SF, four stories
Role: Owner / Developer
art Solutions
Construction Costs & Inflation
ge: Significant spikes in construction costs he design phase threatened to push the n project over budget
n: Boldt conducted a thorough value ring process, identifying cost savings compromising quality A competitive g strategy secured favorable contractor g market volatility
ont Costs
or MOB projects require substantial re construction begins funded pre-development expenses bility studies, site evaluations, and g BMHCC’ s upfront burden and em capital for other initiatives
& Material Delays
ket-wide material shortages risked y timelines back maintained direct, frequent with suppliers, including in-person cturing facilities, to verify dules and expedite shipments
gulatory Compliance
Challenge: MOBs must meet complex healthcare building codes and compliance standards, which can add cost and time if not managed well
Solution: Leveraging decades of healthcarespecific development experience, Boldt navigated entitlements and permitting efficiently, ensuring all regulatory requirements were met without delays.
Community Impact
Improved Access to Care
Patients in DeSoto and Madison now benefit from state-of-the-art facilities that reduce travel time and provide access to a wider range of healthcare services including specialty care that was previously limited or unavailable locally
Economic Growth
Created hundreds of construction jobs during each project’ s build-out phase
Supported long-term healthcare employment by enabling physician practices to expand their staffing
Strengthened surrounding business districts with increased patient and visitor traffic
Patient & Family Experience
Proximity to restaurants, retail, and hotels including Walgreens, Starbucks, Primo’ s Café, Georgia Blue, and Courtyard by Marriott makes it easier for families to manage healthcare appointments. Thoughtful design prioritizes comfort, convenience, and accessibility, reducing patient stress and improving the overall care experience.
Tenant Development
Shared-Risk Partnership Model
Unlike traditional real estate developers who require health systems to provide full lease guarantees, Boldt assumed meaningful development and leasing risk, enabling BMHCC to expand capacity without exposing the system to excessive financial liability
Third-Party Physician Leasing
Boldt actively markets and leases space to independent, community-based physicians who align with BMHCC's strategic goals. Through this approach, Boldt:
Works alongside BMHCC as they fill the building with complementary third-party community providers
Accelerates lease-up through established relationships with regional physician groups and specialty practices
Strengthens referral networks by bringing high-quality independent providers onto campus
Creates competitive market advantage by offering turnkey, Class A medical office space that attracted top talent
Physician Ownership Opportunities
Boldt's flexible capital structure allowed physician groups and specialty practices to acquire ownership stakes in the facilities they occupied This co-investment model:
Aligned long-term incentives between physicians and the health system
Enhanced physician retention by giving providers a tangible financial interest in the facility's success
Minimized provider financial risk through structured investment options that matched practice size and growth projections
Supported BMHCC's strategic partnerships by deepening relationships with key physician stakeholders
On-Campus Synergy
By combining employed providers, independent physicians, and physicianinvestors under one roof, Boldt created vibrant, multi-specialty hubs that benefited patients, providers, and the health system:
Convenient, coordinated care for patients
Cross-specialty collaboration and referral opportunities for physicians
Sustained campus traffic and utilization for BMHCC
Long-term asset value appreciation for all stakeholders
Key Takeaways
Two successful on-campus MOB developments delivered in under three years
Facilities positioned for growth, with shell space and adaptable layouts to accommodate future healthcare needs
On-budget delivery for both projects, even amid one of the most challenging real estate markets in decades
Physician-aligned financial models that encourage long-term tenancy and engagement
Partner With Boldt to Transform Healthcare Access
From early planning through final delivery, Boldt Real Estate brings the capital, expertise, and commitment needed to turn complex healthcare development projects into reality without burdening health systems with unnecessary risk
