Revista’s COVID-19 Impact Survey Results for Owners, Managers, Agents, and Investors in Medical Real Estate
From 4/13/20 to 4/17/20 Revista conducted a survey targeted towards medical real estate stakeholders. Two surveys were developed, one to measure Covid-19 impacts on Leasing and one to measure the pandemic’s potential impact on the medical real estate investing environment. Over 85 responses were received. The combined and aggregate highlights of the surveys are provided below. For questions about this survey please contact Mike Hargrave at email@example.com.
Tenant Impacts/Landlord Perceptions
- 90% – of landlords/agents say leasing has slowed or paused
- 65% – of landlords/agents say renewals are steady; 24% Renewals have decreased
- 32% of medical tenants have required about rent relief
- 25% of tenants have inquired about rent abatement
- 33% of tenants have suspended or severely limited operations; negligible number (less than 2%) of tenants have permanently closed
Which specialties’ operations have been most impacted by the pandemic? (1-not impacted, 2-low impact, 3-medium impact, 4-high impact)
- 65% of landlords do not have a rent deferral program but will consider on a case by case basis; 25% of landlords have a rent deferral program
Landlord offers vs. tenant asks
- 59% of landlords require repayment of any rent relief within one calendar year
- 38% of landlords will extend the lease or structure repayment over the life of the lease
Medical Real Estate Investment Impacts
- 50% of HCRE investors think cap rates will move 25-50 bps over the next 12 months; 30% believe cap rates will move 50-100 bps.
- 62% of HCRE investors are slowing or pausing investments; 38% of HCRE investors view the crisis as an opportunity for their firm.
Source and Copyright: Revista; Data believed to be accurate but not guaranteed and is subject to future revision. Use of this data is permitted subject to terms conditions detailed on revistamed.com and with proper credit to Revistamed.com.