Limited MOB Construction Keeping Vacancy Low
Development costs continue to be high in 2026, and that has kept a downward pressure on construction levels. The chart below shows the annual project starts and completions as a percentage of . . .
The MOB Scene
Higher Acuity MOBs Outperform on Rent
nvestors in medical outpatient or medical office buildings understand they are investing in a sector with durable stability. Investors also understand that this stability is often traded in lieu of outsized growth. But some investors do create growth or value within the MOB sector.
Where are MOB Cap Rates?
In the chart below we are comparing MOB cap rates to the 10-year treasury yield. So far in 2026 cap rates for medical office transactions have been quite stable. From the end of 2025, through the first half of 2026, the average was flat at . . .
Revista Updates the Size and Scope of the Medical Real Estate Sector
Revista has updated the size and scope of the Medical Real Estate Sector (MRE or HCRE). The October 2026 update shows that the HCRE sector (all inpatient and outpatient real estate) contains roughly 3.6 million square feet (SF) and carries a valuation of $1.6 trillion (T).
Which Markets are Investors Gaining Share of Outpatient Real Estate?
In the table below we compare these two numbers for each of the Top 50 markets and rank them by the largest shift towards investor-ownership relative to the markets size. Birmingham tops the list with a net . . .
Developers and Providers Turn to Conversion Opportunities
While attractive, conversion potential has historically been limited because medical requirements differ significantly from those of traditional office or retail buildings. Specialized HVAC, infrastructure to support heavy medical equipment, significant …
Large Hospital Pipeline, but Starts Trending Down
There are currently 74.2 million square feet of hospitals under construction across the US. That is down year-over-year, but still a very string pipeline when compared to the past decade. There is a total of 237 . . .
Declining Space Availability for the Outpatient Sector
Revista recently held its 2nd quarter subscriber webinar. One of the trends we highlighted was total square feet of MOB space per ambulatory employee.
Will MOB Financing Continue to Trend Upwards?
If you have been following medical office sales activity, you know that transaction volume is moving upwards. Another angle for viewing the financial environment is to look at the number of new mortgages. Looking at the mortgage trend . . .
The New York Metro MOB Market is on the Upswing!
The New York (NYC) metro medical office market (MOB), which saw its occupancy rate fall as a result of the Covid-19 outbreak, is now on the rebound. NYC’s MOB market, prior to the pandemic was extremely tight and hovered around 94%.
Are Health Systems Rethinking Their Real Estate Strategy?
As health systems face growing pressure to optimize capital and accelerate growth, many are turning to third-party developers and property owners to support their real estate needs. Using Revista’s inventory of medical outpatient buildings (MOB) larger than 7,500 square feet, we examined which health systems are . . .
More MOB Sales in 2026
$16.3 billion in MOBs have traded over the past 12 months. That is the highest level of volume we have recorded since 2Q23. These sales comprised 47 million square feet in MOB buildings, equivalent to 2.9% of . . .
Which Counties are Rapidly Increasing Healthcare Output?
Healthcare Gross Domestic Product (HGDP) is measure of the monetary value of healthcare output. In the charts above, we are looking at growth in real HGDP for each county over the past decade. Real HGDP is inflation adjusted to provide a better view on . . .
Which Markets Have Seen the Greatest Growth in MOB Face Rents?
The Medical Office Sector has typically averaged 2 to 3 percent year-to-year rent growth. In recent years, this level of growth has often trailed CPI inflation. As a result, investors often target medical office (or outpatient) buildings (MOBs) that have a likelihood for higher year to year rent growth. These targets will likely include markets where higher rent growth is forecasted.
2026 Outpatient Development Report Recap
The annual outpatient development report is now available. Produced with collaboration from HREI (Healthcare Real Estate Insights), the 2026 report covers all the outpatient construction projects that broke ground or . . .
Update on Health System Medical Outpatient Building Buybacks
Health systems have been one of the most active participants in the medical properties investment sales market in the last 3 years, accounting for 17% of all sales activity as either the buyer or seller. In 2025 alone . . .
New RevistaMed Metro Reports – Now Available
Explore the new RevistaMed MarketView Metro Reports, now available to subscribers. The updated reports build on fundamentals, sales transactions, and construction activity, while introducing expanded analysis of real estate ownership …
Medical Office Rent Growth Normalizes Post Inflation
Occupancy is typically consistent, but what is the state of rent inflation within the outpatient sector? Revista’s recently released 4Q25 data shows a year-over-year growth rate of . . .