Transwestern Adds Niema Beglari as Rod Richerson Joins to Lead Healthcare and Life Sciences Investments

HOUSTON — Transwestern Investments announced Nov. 10 that Rod Richerson has joined the firm as Executive Managing Director, Healthcare and Life Sciences, and that Niema Beglari is also joining the investment team. Richerson will lead investment strategy across both sectors, drawing on more than 30 years of commercial real estate experience.

Rod Richerson Appointed to Lead Transwestern Healthcare and Life Sciences Strategy

Richerson joins Transwestern from Sterling Bay, where he served as Managing Principal. Over his career, he has overseen institutional real estate investments nationwide and led the development and conversion of more than 1 million square feet of life sciences facilities, according to the firm.

Before Sterling Bay, Richerson served as Regional President at KBS Realty Advisors, where he oversaw the firm's institutional portfolio across the western United States. His experience spans acquisitions, capital structuring, development, leasing and portfolio management. He currently serves on the Urban Land Institute's Health Care and Life Sciences Council and is a former board member of CREDA (formerly NAIOP) Southern California.

"Rod brings an exceptional combination of institutional investment experience and technical expertise," said Charles Hazen, President of Transwestern Investments. "His leadership will be instrumental as we pursue new opportunities and expand our presence in healthcare and life sciences real estate."

Richerson said he has worked with Transwestern for years. "Having worked with Transwestern for years, I am elated to continue my career in an organization that thinks holistically about commercial real estate," he said. "With dedicated healthcare experts and deep analytics spanning Services, Development and Investments, we are well positioned to bring meaningful opportunities to our investors."

Niema Beglari Joins the Transwestern Investments Team

Niema Beglari is joining Richerson at Transwestern Investments. Beglari brings experience in healthcare real estate capital markets, acquisitions and asset management, the firm said. The addition of Beglari alongside Richerson suggests Transwestern is building an investment team for the sector rather than making a single executive appointment.

Life Sciences Market Shows Early Signs of Stabilization

The hires come as the U.S. life sciences real estate market begins to stabilize after a period of oversupply, elevated vacancy and sharply reduced investment activity. U.S. life sciences vacancy was 24.3% in the second quarter of 2026, up from 23.4% at year-end 2025. Asking rents averaged $64.17 per square foot, down 5.3% year over year but still 37% above traditional office rents in the 12 major markets tracked by Cushman & Wakefield.

New supply is contracting. Less than 6 million square feet was under construction in mid-2026, equal to 2% of existing inventory, compared with 35 million square feet in 2023, when construction represented 17% of inventory. About 4.4 million square feet is scheduled for delivery through 2027, with 69% already preleased.

Investment activity has shown early signs of recovery. U.S. R&D property sales exceeded $9.3 billion in the four quarters through the second quarter of 2026, up 4% year over year, while transaction counts rose 9%. Average deal size fell 5%.

The recovery remains uneven. CBRE reported that third-quarter vacancy edged down to 23.4%, the second quarterly decline since late 2022, but average asking rents fell 7.2% year over year. Sales for the quarter totaled $757 million, 94% below the $13.2 billion peak recorded in the third quarter of 2022.

Capital formation is improving. Life sciences venture funding exceeded $17.7 billion in the first half of 2026, equal to 55% of full-year 2025 funding, and the average deal size was 33% higher than the 2025 average. CBRE also said improved equity markets and venture funding were expected to support demand, while lab/R&D construction activity was projected to fall 77% between the fourth quarters of 2025 and 2026.

Transwestern's Specialized Sector Focus

Richerson's remit covers both healthcare and life sciences investments, allowing the firm to pursue opportunities across operating healthcare properties, medical facilities, laboratory/R&D buildings and adaptive-reuse projects. Underwriting in the sector remains demanding because of high vacancy, expensive tenant improvements and specialized laboratory infrastructure.

Transwestern describes itself as a vertically integrated commercial real estate firm offering investment, development, brokerage and property management services. The firm owns, leases and operates $71 billion in assets, a figure that includes all Transwestern enterprise assets and its RAUM as of Nov. 1, 2026, and operates 35 offices nationwide. The figure is not specific to Transwestern Investments' healthcare or life sciences holdings.

Outlook

The appointments position Transwestern Investments to pursue healthcare and life sciences opportunities as construction pipelines shrink, venture funding improves and investors return to the sector, even as vacancy and rents remain under pressure.