Many economic signals rebounded in May of 2020. The equities markets, housing markets and overall employment markets all showed sharp pullbacks in March and April only to rebound sharply in May. Among the measures is Ambulatory Services employment.
A weekly running sum of medical office volume through April 2020 reveals that volume is slowing but that overall, total volume is still running ahead of 2019.
It looks as if the first quarter (1Q) might’ve been the calm before the storm when it comes to MOB sales.
In 2020, things are certainly changing a mile a minute. But let's take a look back to 2019 and the investors who most actively acquired MOBs. Welltower takes the title acquiring $2.2 billion throughout the year, followed by MB Real Estate, Montecito and Anchor Health Properties.
Based on planned projects, a slow down in starts in the beginning of this year was expected. But for those scheduled starts, even into March and April, projects moved forward with few exceptions. Projects scheduled to open, however, have a different story.
verall, the report shows little impact from the Covid-19 pandemic. The chart below shows key aggregate same-store year over year growth rates for key MOB metrics.
At a time when MOB sales have slowed considerably as a result of the COVID-19 pandemic, it was reassuring to see a good-sized transaction take place in recent weeks.