The significant majority of sales volume of MOBs annually is sold by investors. New sale lease-back transactions are the minority, often times hospitals and health systems will acquire as much or more outpatient real estate then they’re selling. Independent physician groups, on the other hand, continue to monetize their real estate assets, reliably selling $1B+ in assets annually.
Below is a chart showing TTM net acquisitions of MOBs by company type over the last several years. Anything above the line means for that period, that group was a net acquirer. Below the line, net seller. Physician groups have reliably been net sellers over the last 5+ years, significantly more so than hospital systems. The specialties of these physician groups is truly across the board, but often will be Nephrology, Urology, Orthopedics and Gastroenterology. As competition remains fierce for deals in the sector, this segment continues to be a source of opportunity for investors. Looking for your next acquisition opportunity? Subscribe to Revista!