Chriss Papayannis, Florida Market Leader, Realty Trust Group
August 2026 —Invest: spoke with Chriss Papayannis, vice president of advisory services for Realty Trust Group (RTG), about the rapid changes in healthcare real estate across Florida and the Tampa Bay region, demographic shifts, and how heightened competition is reshaping how health systems deploy capital and expand access to care. “It’s not about who’s better, it’s about who gets there first,” said Papayannis.
What key developments or recent milestones have most shaped RTG’s strategy in Florida, particularly in Tampa Bay?
The most significant change has been the sheer pace of growth in healthcare and healthcare real estate across Florida, and especially in Tampa Bay. We are seeing accelerated development across the asset class, from hospitals to ambulatory facilities and medical office buildings. That momentum has really highlighted RTG’s strengths. Because we work across the full real estate platform — strategy, planning, development, transactions and portfolio optimization — we can see the end-to-end picture.
That allows us to identify gaps, cross-functional risks and missed opportunities that others may not see. One of the most meaningful ways we support clients is by aligning their operational strategy with their physical real estate footprint. When those two are synchronized, health systems grow faster, deploy capital more effectively and improve access to care, which is a key driver right now. For example, we recently helped a client develop two new medical office buildings while simultaneously reassessing underutilized space elsewhere in the system, ultimately realigning the portfolio around future growth.
As you manage that growth, what skill sets and capabilities are most in demand when you are attracting and retaining talent?
Talent is one of the biggest challenges as organizations scale. Florida in general, and Tampa in particular, are growing very quickly, and the competition for talent between markets like Tampa and Palm Beach is fierce. On the technical side, we look for deep experience in healthcare planning, regulatory compliance, complex deal structuring and program management — people who understand both the capital side and the clinical side of decisions. But that is only part of the equation. To attract talent, you need a broader ecosystem: strong schools, affordable and accessible housing, childcare options, social and professional networks and vibrant community amenities.
We are also working with health systems to think differently about supportive services such as on-site or nearby childcare, which can be a real differentiator for clinical and administrative staff. It is no longer enough to say, “If you build it, they will come.” You have to ask what else people need to build a life and a career in that market.
What major trends are you seeing in healthcare real estate across Florida and Tampa Bay, and how is RTG positioning itself to guide clients through those shifts?
When you create these ideal conditions for growth, you also create a lot of pressure on the system. Health systems are managing labor inflation, higher supply chain and construction costs, facility maintenance burdens and longer development timelines. Regulatory and permitting processes have also become more complex and time consuming. RTG helps clients evaluate the full spectrum of capital and delivery alternatives — from developer partnerships and lease-versus-own decisions to asset monetization strategies.
We look from the strategic capital layer through development and, once a facility comes back from construction, help organizations operate and maintain it to extend its useful life. Because we work in so many different markets across the United States, we have already seen versions of these pressures play out elsewhere. That experience allows us to anticipate what is coming in Florida and Tampa and to help clients make proactive, not reactive, decisions.
From RTG’s perspective, what makes Tampa a distinctive market for healthcare real estate?
Tampa is a highly collaborative market with a strong ecosystem. We work closely with health systems, physician groups, municipalities, and other stakeholders to align development with clinical needs and community priorities. Those relationships are essential; they help accelerate entitlements, unlock incentives, improve physician alignment and ultimately reduce time to market for new access points. Our role is often that of a connector.
Healthcare real estate is a relatively small world, and RTG has worked with many of the key players over the years. We understand their strengths, where they fit best and how to bring them together in ways that create value for our clients and the community. In Tampa, that collaborative model helps our clients move faster, reduce risk, and differentiate themselves in an increasingly competitive landscape.
How do community relationships influence your strategy, and what role do they play in long-term regional positioning?
Healthcare is one of the dominant economic engines in most cities, and Tampa is no exception. Health systems are often among the largest employers and have a unique opportunity to drive economic and social outcomes. Every project we support touches job creation, construction activity, service expansion and long-term community investment. RTG sits at the intersection of those opportunities. We help health systems grow their footprint responsibly and efficiently while expanding access to care, which is a major focus right now.
Florida is experiencing continued in-migration, including many retirees with distinct healthcare needs, and providers are racing to meet that demand. Health systems are merging, acquiring and growing, which means they are accumulating significant real estate portfolios. Whether they intended to or not, many health systems have effectively become real estate businesses. Our role is to help them manage those assets strategically so that leadership can stay focused on their core mission of patient care.
Looking three to five years ahead, what shifts do you anticipate in healthcare real estate demand, delivery models, financing and strategy?
It is fascinating to think about how quickly the competitive landscape has changed. Not too many years ago, most health systems stayed in their respective counties, served their local patients and grew at a measured pace. Today, we are in a race, particularly in Florida, where Tampa hosts several well-respected, fast-growing health systems. It’s not always about who’s better. Who gets there first plays a role.
The bar for success is higher: systems have to find capital, recruit physicians and nurses, partner with educational institutions to train more clinicians and address housing and quality-of-life issues that influence where people choose to live and work. Everything we have discussed — access, talent, capital, community infrastructure — comes together in that three-to-five-year window. Clients are looking for solutions that can accelerate every one of those components while maintaining compliance and financial sustainability.
What are RTG’s key goals and priorities as you look ahead?
We work with a wide range of health systems across the country, from non-profits and public systems to for-profit providers, each with its own mission and strategy. Although their goals are unique, the best practices and solutions RTG offers can be adapted to virtually any organization. For example, when systems are recruiting physicians, we may design a customized physician syndication or investment program that aligns interests while meeting strict compliance and regulatory requirements.
Those requirements are consistent across markets, and our experience helps clients avoid missteps and move faster. The level of activity we are seeing today is higher than ever, so we are scaling our own capabilities to keep pace with our clients’ growth. Our priority is to remain a trusted, long-term partner — one that understands what is around the corner and can help health systems deploy capital, manage real estate and expand access to care in a strategic, sustainable way.
