It’s important to consider a lender’s expertise among other factors
By Erik Tellefson
The definition of a “trophy” medical office building (MOB) asset is relatively hard to pin down. But real estate professionals typically consider trophy assets as MOBs with large square footage (over 250,000 square feet), strong tenancy, solid space usage, and striking visual appeal, in addition to being the recipient of awards and accolades. A trophy MOB typically has appeal commensurate with these attributes and trades at a cap rate in the far lower end of the range, often in a competitive bidding process.
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