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.
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.
Despite mounting stay-at-home orders and market turbulence throughout the month of March, medical office building sales ended the quarter up from a year ago. Want access to data as it happens? Subscribe to Revista to search building sales as soon as Revista Research enters them in our Transaction Comps tool.
Revista has developed 2 short surveys in response to the Covid-19 pandemic’s impact on your business. One survey is geared towards owners and managers of medical real estate and the other is geared towards investors and those involved in the investing in medical real estate.
A little over a month ago things were business as usual within the world of healthcare real estate. The Revista Medical Real Estate Investment Forum had just wrapped up with healthy growth in attendance and many attendees were speaking of another year ahead of continued growth in transaction volumes.
Last year 77 medical office projects started that will be over 100,000 square feet when completed. That's quite an uptick over previous years when we averaged less than 50.
So much of the conversation in the industry right now is about placing medical services out into the community to be more convenient and cost effective for patients. But what is that community going to look like in 10 years? 20 years? Flexibility becomes the name of the game.