It doesn’t look as if anyone is going to dethrone Oakland, Calif.-based Kaiser Permanente as the country’s largest owner of medical real estate anytime soon.
For the sixth consecutive year, Kaiser, a health insurer and provider with 8.6 million members in nine states, sat atop the annual “2018 Top 50 Owners of Medical Real Estate” report compiled by Revista, which gathers and provides a wide variety of healthcare real estate (HRE) data, statistics and reports for its subscribing members.
Taken together, the Hospital and MOB sector is valued at $1 Trillion
There are currently about 600 medical office projects under way across the country. More than 15 percent of those projects include orthopedics. Why do so many projects include this specialty?
Revista is thrilled to announce that Andrew Haslam, Chief Asset Officer for Providence St. Joseph’s Health System and Tom Errath, Director for Harrison Street Real Estate Capital will co-chair the 2020 Revista Medical Real Estate Investment Forum.
The country’s healthcare-focused REITs have always been, and are likely to continue to be, an important investor group in the medical office building (MOB) acquisitions sector.
While MOB transaction activity might have cooled somewhat and MOB construction remains steady, deliveries of hospital projects have been on a spike. Based on projects that have either opened or are scheduled to open by the end of the year, we will be adding roughly 35 million square feet to inventory in 2019.
There’s plenty of talk in the medical office building (MOB) sales sector that even though demand remains as high as ever for the product type, the volume has been quiet so far in 2019. Second quarter (Q2) and year-to-date MOB sales statistics compiled by healthcare real estate (HRE) data firm Revista, which provides a variety of HRE data to subscribers, confirm this notion.
SABRA Healthcare REIT (NYSE: SBRA) reported in its quarterly earnings that Forest Park Medical Center (FPMC) in Frisco is having trouble paying rent as of June, 2015.
HCP, Inc. (NYSE: HCP), disclosed with the reporting of second quarter, 2015 earnings that it had purchased a portfolio of 11 on campus medical office buildings from Memorial Hermann Health System.
The interesting things about this deal, however, are the pricing and location of these assets. The total value of the deal was $449M for the 8 properties comprising 437,895 square feet. This works out to $1,025 per square foot which makes it the highest priced publicly announced MOB deal (per SF) this year.
A 51,000 square foot medical office building in Oakdale, California traded hands in late July. The Oakdale Medical Plaza was developed in 2007 by GL Bruno in association with Oak Valley Hospital. The MOB sold for $12 million or $235 per square foot.
The deal is split two-thirds ($600 M) to real estate and one-third to operations. The deal represents the single largest transaction in MPW’s history and will grow their real estate asset base (based on 1Q15 gross real estate assets) by some 19%...
Healthcare Trust of America (NYSE: HTA) recently announced it had closed on over $190 million worth of acquisitions in the second quarter of 2015. The acquisitions were in the REIT’s existing markets of Boston, Charleston, Indianapolis and Raleigh. Based on preliminary 2Q data, HTA is setting the pace for MOB transactions in 2Q...