One of the assets Griffin-American Healthcare REIT II acquired was the three-story, 72,000 square foot 155 Crystal Run MOB in Middletown, N.Y. Griffin-American paid about $57 million, or $375 PSF. Photo courtesy of Raymond James
Unlisted REIT invests more than $541 million on HRE only a single month
By John B. Mugford
A year ago, with an increase in capital gains taxes looming for anxious sellers, a flurry of medical office building (MOB) deals closed out 2012 and made it a record-setting year for total sales volume (dollar amount).
After such an eventful, somewhat hectic finish to 2012, conventional wisdom suggested that the final weeks of 2013, with no such incentive prompting sellers, would be less dramatic and certainly fall short of 2012’s fourth quarter (Q4) sales volume, which set a quarterly record at $2.23 billion, according to real estate research firm Real Capital Analytics Inc. (That total included only transactions of $2.5 million or more.)
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