The per square foot price recently paid for this Santa Monica,
Calif., outpatient center reportedly set a new record for MOBs. (Photo courtesy of Montecito Medical Investment Co.)
MOB sale shatters $1,000 per square foot barrier
By John B. Mugford
The buyer, Montecito Medical Investment Co., says the MOB merits the lofty price. John B. Mugford
The average price per square foot (PSF) that MOB investors have paid so far in 2013 is right around $208 – that’s for transactions of more than $5 million, according to real estate researcher Real Capital Analytics (RCA) Inc.
A recent deal in Santa Monica, Calif., blows that average out of the water. In what is believed to be a national record-breaking PSF for an MOB acquisition –
outside of New York, of course – Santa Barbara, Calif.-based Montecito Medical Investment Co. recently acquired the UCLA Outpatient Surgery and Oncology Center for
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