A lasting conversation among investors in the MOB sector has been the choice between On campus MOB investments and Off campus MOB investments.
In March, when most of the country shut down in order to slow the spread of COVID 19, when one needed to see the doctor, in many cases the only option was through a virtual visit. As of July, Telehealth was still representing 21% of all ambulatory visits. How will this affect physician and health system's ambulatory space needs? We asked in our October survey, and here is how you answered.
Phoenix is an investor favorite for sure. While nationwide roughly 65% of medical office space is user owned, in Phoenix only 30% is user owned. A significant driver of this is how incredibly fast Phoenix is growing.
One of the drivers of the slowdown in activity is the volume of mortgage financing. Revista tracks recorded mortgage financing for the almost 50,000 medical office buildings in its database.
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.