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Feature Story: MOB sector remains resilient despite Q2 sales decline

Revista’s latest webcast shows stabilized occupancies despite COVID-19

Source: Revista

NATIONAL — The fallout from the COVID-19 pandemic is certainly taking its toll on the country’s healthcare systems as well as the healthcare real estate (HRE) sector, even though the industry and property type continue to show resiliency more than four months into the crisis.

For example, the occupancy rate of medical office buildings (MOBs) in the country’s top 50 markets has remained remarkably steady, finishing the second quarter (Q2) at a rate of 91.2 percent, which is slightly greater than the previous four quarters. In addition, the absorption rate, at 22.2 million square feet on a trailing 12-month basis, far exceeds any quarter dating back to Q3 2018.

Those statistics and overall good news concerning the medical office and healthcare facility sector were shared last week during a subscriber webcast by HRE research and data firm Revista. The Arnold, Md.-based firm aired its “Subscriber Webcast: Healthcare Real Estate Sector 2Q 2020” on July 21.

Providing information and news concerning the sector were Revista’s Mike Hargrave and Hilda Martin, both principals, and Mindy Berman, a managing director with the Capital Markets team with Jones Lang LaSalle Inc. (NYSE: JLL) and co-leader of the firm’s national healthcare group.

“So, as we look at these trends (in the MOB sector), it really speaks of

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