Investing in community well-being through healthcare real estate.

About Rethink Healthcare Real Estate

Rethink Healthcare Real Estate invests in strategic, institutional quality ambulatory facilities that help uplift and advance community care. We develop and acquire properties directly, partner with experienced real estate developers to build new projects, and work with healthcare providers to deliver advanced medical office buildings and outpatient facilities.

As our population ages, our healthcare system faces the challenges of growing demand for services while needing contain costs. We believe that distributed models of delivering healthcare can achieve these goals and increase access to healthcare for families across the country. Our investment and development approach seeks to help meets these 21st century challenges head on.

Investment Approach







Meet the Team

Douglas Ray

Chief Executive Officer

Douglas Ray serves as Chief Executive Officer of Rethink Capital Partners. He joined the firm in 1995 and has subsequently been involved in all phases of the firm’s development. In his role, Mr. Ray is responsible for supervising all real estate and private investments, including negotiating major transactions, overseeing the investment due diligence process, providing analysis, and structuring equity and debt investments on behalf of Rethink and their clients.

Mr. Ray previously served on the Board of Directors of Fifth Street Finance Corp. (NASDAQ: FSC), a public investment management company based in White Plains, NY, and is a member of the Young Presidents Organization (YPO). Prior to joining Rethink, Mr. Ray was employed in Washington, D.C., on the staff of U.S. Senator Arlen Specter and as a research analyst for the Republican National Committee.

He received a Bachelor of Arts degree in Political Science from the University of Pittsburgh.

Jonathan Winer

President & Chief Investment Officer

Jonathan Winer serves as President and Chief Investment Officer of Rethink Healthcare Real Estate and Senior Managing Director of Rethink Capital Partners. He joined the firm in 2008 and has over 28 years of real estate experience. Mr. Winer has multi-faceted responsibilities directing all aspects of the healthcare real estate business. Prior to Rethink, Mr. Winer was a Partner at EY LLP where he directed the Healthcare Real Estate Advisory practice. Previously, Mr. Winer specialized in providing tax-exempt financing working on Wall Street.

Mr. Winer is a frequent speaker at healthcare real estate industry events including seminars sponsored by the Building Owners and Managers Association (BOMA), Urban Land Institute (ULI) and Healthcare Financial Management Association (HFMA), among other organizations. He serves on the Editorial Advisory Board of the publication Healthcare Real Estate Insights and was the recent Chair of the ULI Healthcare and Life Sciences Council. Mr. Winer has an MBA from New York University and a BBA from George Washington University and is a licensed real estate broker in New York.

Malika Basheer

Senior Vice President, Director of Asset Management

Malika Basheer serves as the Senior Vice President and Director of Asset Management for Rethink Real Estate. She has been with the firm since 2002 and is responsible for the management and analysis of an extensive portfolio of medical office and outpatient assets, as well as other commercial, retail, and residential assets. She brings more than 16 years of real estate experience in asset management, leasing, operations, acquisitions and dispositions, strategic planning, financial management, and business development. Her responsibilities extend to investment management, development, and evaluation of real estate investment opportunities and financing alternatives, as well as the diligence for new transactions.

Keith Barker

Vice President, Development and Construction

Keith Barker serves as Vice President of Development and Construction for Rethink Real Estate, working across the firm’s real estate strategies: Rethink Healthcare Real Estate and Rethink Community. Mr. Barker joined Rethink in 2019 and is responsible for managing the Real Estate Development opportunities across several platforms in the Rethink family including Rethink Community, Blueprint Local and Rethink Healthcare Real Estate.

Prior to joining Rethink, Mr. Barker led the team at Commercial Development Inc., a Baltimore based real estate development company that specializes in urban infill projects, repositioning of operating properties and land assemblage for development or resale. Preceding his time at Commercial, Mr. Barker held Business Development and Preconstruction roles at Clark Construction as well as sales and leadership roles in business verticals outside of the real estate sector.

Mr. Barker earned his Bachelor of Science in Business Administration from Towson University and is active in several business and charity groups in the Maryland area.

David Braunstein

Vice President, Investments

David Braunstein serves as Vice President of Investments for Rethink Real Estate, focused on acquisitions and development projects for Rethink Healthcare Real Estate and Rethink Community. Mr. Braunstein joined Rethink in 2015 and is responsible for the evaluation of potential investment opportunities and all aspects of the initial acquisition and development process . Prior to joining the team, David was an Originations Associate for Hudson Realty Capital, a New York-based real estate fund manager with over $1.5 billion in assets under management.

Preceding his time at Hudson Realty Capital, David held acquisition and asset management roles at Argent Ventures and DRA Advisors in New York. Prior to this experience, he served as an Analyst for securitized products at UBS and as an Senior Accountant at Ernst & Young. David holds a Bachelor’s of Science in Accounting and Finance from Tulane University and a Master’s of Science in Real Estate from New York University. Mr. Braunstein is an inaugural member of the Revista Rising Leaders Council.

Kurt Hackett

Vice President, Asset Management

Kurt Hackett serves as Vice President of Asset Management for Rethink Real Estate. He joined in 2018 and is responsible for the management and analysis of an extensive portfolio of commercial and healthcare properties across the firm’s real estate strategies: Rethink Healthcare Real Estate and Rethink Community. Prior to joining Rethink, Mr. Hackett worked at Hudson Realty Capital, a New York-based real estate equity fund manager with over $1.5 billion in assets under management, as Director in the Loan Originations Group and as Vice President in the Asset Management Group.

Drew Ehrlich

Vice President, Asset Management

Drew serves as a Vice President focused on Asset Management for Rethink Real Estate. In his role as an asset manager, Drew will be responsible for the oversight of our portfolio of medical office properties and outpatient facilities.  He will collaborate with the entire real estate team and brings experience in operations, asset management, and investor outreach.

Drew completed his Master’s in Real Estate Finance & Investment from NYU, Schack Institute of Real Estate in May 2019. He joins us from a variety of institutions, most recently Blackstone, EquityMultiple, and Vornado.

Sophie Kim

Senior Associate

Sophie serves as a Senior Associate at Rethink Real Estate, focused on property acquisitions across the firm’s real estate strategized: Rethink Healthcare Real Estate and Rethink Community. In this role, she evaluates new investment opportunities by performing underwriting, due diligence, market analysis, and presenting to the investment committee. Her responsibilities also extend to the management and analysis of the existing portfolio.

Ms. Kim has an MBA from the University of Chicago Booth School of Business, with concentrations in Finance and Economics, and a Bachelor’s degree from the University of Wisconsin Madison. Ms. Kim held various roles in acquisitions and asset management, most recently at a national retail investor, analyzing investment performance and monitoring operational activities for institutional assets totaling 11.3 million square feet.

Percy Oliver


Percy Oliver serves as an Associate for Rethink Real Estate, working across the firm’s real estate strategies: Rethink Healthcare Real Estate and Rethink Community. Prior to joining Rethink, Percy completed an M.B.A. internship at Beacon Capital Partners with the primary responsibility of underwriting office and life science properties in various markets. Before pursuing his MBA, he worked at MUFG and JP Morgan in transaction banking and working capital solutions.

Percy earned his M.B.A. from the Darden School of Business, with his coursework and extracurricular activities focused on real estate, corporate finance, and asset management. Percy earned his B.B.A. from the University of Georgia with Majors in Finance and International Business.

Our Properties

The Rethink Healthcare Real Estate portfolio totals over 2 million square feet across 11 states. Our investments span from medical office buildings and specialized treatment facilities to emergency healthcare spaces and other facilities supporting the path of patients to a healthy return to their homes.

Rockwall, TX
Murphy, TX
Keller, TX
Grand Prairie, TX
Colleyville, TX
Burleson, TX
New York, NY
Brooklyn, NY
Bentonville, AR
Birmingham, AL
Bethpage, NY
Hillsboro, OR
Silver Spring, MD

Greensburg, PA
San Antonio, TX
Oxon Hill, MD
Oxon Hill, MD
Pittsburgh, PA
Pittsburgh, PA
Pittsburgh, PA


Littleton, CO
Arvada, CO
Los Angeles, CA
San Francisco, CA
Littleton, CO
Littleton, CO
West Bloomfield, MI
Los Angeles, CA
Birmingham, AL
Warwick, RI
Buffalo, NY
Jennersville, PA
Dearborn, MI