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Feature Story: ‘Interesting deals’ panel was, well, very interesting

LaSalle, Welltower, JLL, HFF and Meridian take a closer look during BOMA panel

Panelists who participated in a discussion titled, “Interesting and Notable Deals,” during the recent 2019 BOMA MOB conference in Minneapolis were (left to right): Steve Bolen of LaSalle Investment Management, Mindy Berman of JLL, moderator Mike Conn of Meridian, Keith Konkoli of Welltower and Evan Kovac of HFF. (HREI photo)

MINNEAPOLIS — Perhaps it might be easy to write off a panel discussion about recent, notable medical office building (MOB) transactions as a dull rehashing of past deals that everyone in the healthcare real estate (HRE) sector already knows about.

However, that was certainly not the case during a panel session at the 2019 BOMA International Medical Office Building + Healthcare Real Estate Conference in Minneapolis, held from May 1-3.

Sure, the panelists talked about deals they either brokered or acquired in 2018 and 2019, but they provided plenty of valuable and interesting insight into those deals that provides a snapshot of where the MOB transactions market is currently at and could be moving in the future.

For example, one of panelists, Mindy Berman of the Healthcare Capital Markets Group with Jones Lang LaSalle (NYSE: JLL) noted that most healthcare real estate (HRE) professionals realize that demand for MOBs far outstrips supply, especially for “really quality core properties.”

However, Ms. Berman said that her JLL team has learned that there are about “25 medical office buildings today under development that are over 150,000 feet in size. And most of these are … really high-quality buildings, a mixture of health system self-development as well as third party development… So the supply’s coming.”

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