Newcomer to MOB space to pay $837.9 million for 38 buildings from NorthStar
By John B. Mugford
NorthStar obtained this Carson City, Nev., MOB as part of its $4 billion acquisition of Griffin-American Healthcare REIT II in 2014. (Photo courtesy of LoopNet.com)
The medical office building (MOB) sector is about as hot as it can get, as myriad investors of varying sizes and capital sources are clamoring to enter the space.
One such investor that appears to have found an entry is Greenwich, Conn.-based Starwood Property Trust Inc. (NYSE: STWD), a real estate investment trust (REIT) best-known as a mortgage lender and servicer as well as a buyer of net-leased properties.
The REIT is entering the space in a big way, agreeing to a deal that looks to be the largest arm’s length, non-merger transaction in MOB-sector history.
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