REITs Account for 48% of 2nd Quarter MOB Volume!
Real Estate Investment Trusts (REITS) accounted for 48% of the buying activity for medical office buildings (MOBs) in the 2nd quarter of 2014. REITs bought $454 million worth of MOBs in 2Q. Of this amount, HTA (NYSE: HTA) was the most active REIT by dollar volume; HTA purchased 7 properties in the quarter for roughly $211 million. Their headline deal was the approximately $200 million deal with Gazit-Globe/ProMed Properties. This deal was for 6 properties; 2 in Boston that are affiliated with Tufts Medical Center, one in Baltimore affiliated with physicians of Union Memorial Hospital and 3 in the Miami Florida area. Visit HTA’s investor relations site for a presentation on this transaction.