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Transactions: ‘Trophy’ Boston MOB sells for $916 PSF

German investor acquires 147 Milk Street for $47.95 million in an ‘ultra-core’ deal

By John B. Mugford

The 10-story 147 Milk Street MOB in Boston sold for a reported $47.95 million, or $916 per square foot (PSF). (Photo courtesy of Newmark)

For the third time in as many weeks, HREI™ is reporting a significant, single-asset sale in the medical office building (MOB) market, as a 52,337 square foot property in Boston traded for $47.95 million, or $916 per square foot (PSF).

This deal perhaps further illustrates how well-occupied MOBs, especially those with strong tenants and in major markets, are now coveted by a wide range of investors — including foreign investors and others looking to enter the space.

According to healthcare real estate (HRE) research firm Revista, which provided the pricing information, the buyer of the 10-story 147 Milk Street MOB was

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