Feature Story: Pandemic could push MOB sales volumes even higher

Panelists in Revista webcast discuss ways in which the crisis has changed deal-making

By John B. Mugford

The April 21 Revista “Deal Making” session included (clockwise from the upper left): Dan Klein of Physicians Realty Trust, Lorie Damon of Cushman and Wakefield, John Pollock of Meridian and Steve Bolen of LaSalle Investment Management. (HREI photo)

Plenty has been written and said about the positive light that the COVID-19 pandemic has shed on medical office buildings (MOBs), including the fact that they have performed better and attracted interest from a wide range of investors that are new to the space.

And what has, and will, this new-found adoration for the product type mean for the sector?

Well, according to a group of panelists during an April 21 webcast sponsored by Arnold, Md.-based Revista, which compiles information concerning healthcare real estate (HRE) facilities for its subscribers, it could drive MOB sales activity to new volume levels.

“As a lot of large, diversified owners … look around at sectors that performed well, that’s where they’re allocating capital and they’re selling out of weaker asset classes,” said Steve Bolen, managing director with LaSalle Investment Management (LIM), an independent subsidiary of Jones Lang LaSalle Inc. (NYSE: JLL).

“They have a desire to move their capital into safer asset classes, and, as a result

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