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.
The growing size of medical office buildings and the related need for healthcare providers to utilize third-party capital is increasing opportunities for institutional investment in the sector.
Did you know Revista’s Property View Reports (PVRs) contain detailed physician and other provider revenue data by specialty? That’s right, the PVRs contain Medicare billing and revenue summary data by specialty
As REITs pull back on acquisitions and focus more on refining their portfolios, private equity groups have more than taken up the slack. Total healthcare real estate transaction volume may have cooled ever so slightly - but not much - and so far this year, private investor buyers are making up 76% of that total.
The country’s largest, publicly traded REITs have long been the MOB sector’s steadiest, most prolific buyers of MOBs.
Even the REITs, however, need to cull their portfolios at times, disposing of assets for a variety of reasons that can include exiting a certain market where they do not have a big of presence to provide economies of scale and selling assets that are not “core” to their strategy.
When we at Healthcare Real Estate Insights learned that gaining LEED certification from the U.S. Green Building Council is no longer a widespread goal for healthcare facilities and MOBs, we decided to ask a healthcare architect about the current status of “green” design trends.
The Mid-Year Revista transactions report has been released and is available to subscribers. Check out some of the highlights!