Revista has recently posted the 1Q22 MOB Industry Fundamentals Report. The report represents approximately 150M SF of data reported by major owners of medical office properties. Data is provided quarterly, covering an entire portfolio, as well as on a same-store, year over year basis (YOY). The report is available to subscribers of Revistamed.
When looking at the same-store growth measures in the report, a pattern has emerged in recent quarters. That pattern is increasing growth in same-store revenue growth, expense growth and NOI or net operating income growth. As of 1Q22, same-store YOY Revenue Growth was 3.0%. This is up from 2.5% in 4Q21 and 0.9% one year ago. Same-store YOY Expense Growth, at 4% in 1Q22 is at its highest level in our database and has been increasing each quarter for the past year. Same-store NOI growth has also been climbing in recent quarters and now sits at 2.6%. These figures suggest that inflationary pressures are impacting the trends. This makes sense with regard to expense growth and on the revenue side when accounting for CAM and expense reimbursements.
We will continue to monitor these trends so stay tuned!
