HR TRUST AGREES TO BUY PORTFOLIO FOR $162M
By John Mugford
There’s an interesting, potential silver lining type of irony taking place in healthcare real estate right now. At a time when the volume of medical office building (MOB) transactions is taking a hit because of the economic slowdown and tight capital markets (please see “Q3 MOB sales take a hit,” below), some hospitals are feeling the financial pinch as well.
Such hospitals, according to industry veterans, are facing decreasing patient volumes because of the slow economy, hits to their investment portfolios, lower reimbursements and difficulty accessing debt. As a result, quite a few hospitals and health systems might be looking to sell off ancillary assets, such as MOBs, to raise cash and fund other capital expenditures, such as equipment, or operations, according to numerous
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