A look at the performance of Off Campus MOBs.
The 2020 Outpatient Real Estate Development Report provides a wealth of information on medical office and other outpatient properties started and completed in 2018 by 3rd party developers. The report provides a ranking of total number of projects, total square feet and total construction value for the top developers.
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.
Revista has posted the 4Q20 MOB Sector Quarterly Brief. Available for a limited time this report provides an executive level overview of supply, demand and rent fundamentals for the aggregate top 50 metros as well as the top 10 markets ranked by total square feet (SF).
Fundamentals for the MOB sector were remarkably stable during 2020 given the unstable environment created by the Covid-19 Pandemic. The occupancy rate in 4Q20 was 91.4% across the top 50 metro areas – this was up 20 basis points from 4Q19 when it was 91.2%. Driving occupancy were higher levels of absorption in 2020. In 4Q10, Trailing Twelve Month (TTM) absorption was 14 million SF which was higher than levels seen one year ago
COVID-19 has rapidly accelerated healthcare delivery trends, disrupting both patient and clinician preferences. Real estate must adapt to this new reality.
A survey of leaders in the healthcare industry.
It is common for seniors housing and health care properties to be leased from a passive owner to an operator. Such leases often include purchase price options and/or rent reset provisions. Unfortunately, the wording commonly seen in such leases often falls short of adequately setting forth the process for determining the option purchase price or rent. This article will outline some of the pitfalls commonly seen and provide guidance to lessors, lessees, and attorneys that will be helpful in drafting such provisions.
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