US For-Profit Hospital Industry Outlook Moved To Stable On Higher EBITDA As Patient Volumes Return To Pre-COVID Levels
Commentary by: Todd Perman, CCIM, Vice Chairman
The outlook for U.S. for-profit hospitals has been upgraded to stable by Moody’s, an encouraging sign for hospital recovery. Steadily growing patient volumes, the return of elective surgeries and government aid are the main factors expected to boost the hospital industry over the next 12-18 months.
Healthcare Real Estate Will Change In The Pandemic – And That’s A Good Thing
Commentary by: Jay Miele, Senior Managing Director
The pandemic is driving healthcare providers, owners and developers to reimagine existing and future healthcare spaces. Implementing safety precautions, such as distanced furniture and touchless access points, remain a top priority for current healthcare spaces.
November 2020 M&A Spotlight: ClearChoice Acquired
Commentary by: Eric Murphy, Managing Director
ClearChoice operates dental treatment centers across the U.S. to provide implants for chronic dental issues. ClearChoice entered into an agreement to be acquired by Aspen Dental Management via its multiple financial sponsors. The leveraged buyout is estimated at $1.1 billion.
$360M+ in MOB Transactions Closed in October 2020
Commentary by: Jessica Moore, Financial Analyst
Fifty-nine medical office building transactions closed in October, totaling over $360 million and 1.822 million square feet. Texas had the most medical office building transactions with nine sales (15.3% of total), followed by California with eight sales (13.6% of total).
Recent Newmark Transactions
Kaiser Cupertino MOB
Cupertino, CA
Total SF: 100,325
Sales Date: 10.5.2020
Price: $103,000,000
Bridgewater Medical Office
Building & Surgery Center
Bridgewater, NJ
Total SF: 92,915
Sales Date: 12.11.2020
Price: $31,320,000
401 Southcrest Medical Office
Building Sale
Memphis MSA
Total SF: 39,385
Sales Date: 11.18.2020
Price: Undisclosed
Novant South Brunswick
Medical Office Building
Carolina Shores, NC
Total SF: 20,000
Sales Date: 11.30.2020
Price: $7,285,000
Circleville Professional Center
Circleville, OH
Total SF: 19,888
Sales Date: 12.3.2020
Price: $5,680,000
Executive Leadership
Todd Perman, CCIM
Vice Chairman
tperman@ngkf.com
678.521.3454
Medical Office Capital Markets & Investment Banking Advisors
Ben Appel
Executive Managing Director
ben.appel@ngkf.com
215.872.9903
Chris Gordon
Senior Managing Director
cgordon@ngkf.com
214.335.3923
Jay Miele
Senior Managing Director
jay.miele@ngkf.com
732.778.3895
Michael Greeley
Senior Managing Director
mgreeley@ngkf.com
617.223.1623
John Nero
Managing Director
john.nero@ngkf.com
610.308.8192
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