Hammond Hanlon Camp LLC Fourth Quarter Medical Office Building Report: Large Portfolio Activity Drives 2016 Transaction Volume
posted on March 14, 2017
NEW YORK — Investor appetite remained strong for medical office buildings in 2016 with a total of $8.5 billion in reported transaction volume. It was a year marked by large portfolio sales, fueled by institutional capital. NorthStar Realty Finance Corp. (NYSE: NRF) sold a portfolio of 38 properties with a total value of $838 million to Starwood Property Trust (NYSE: STWD). Catholic Health Initiatives (“CHI”) monetized a portfolio of 52 properties through a sale to Physicians Realty Trust (NYSE: DOC) for $703.5 million. Blackstone (NYSE: BX) sold a 4.5 million square foot medical office and life sciences portfolio to Ventas (NYSE: VTR) for $1.5 billion. In the aggregate STWD, DOC and VTR acquired roughly $3 billion in medical office and related healthcare real estate, approximately 36 percent of the total $8.5 billion in sales transacted for the year.
Inside the 4Q16 MOB Quarterly Update
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Key Transaction Highlights
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Transaction Volume Trends
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Regional Transaction Highlights
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Pricing and Cap Rate Trends
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Industry Rate Benchmark Trends
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