Tenants might not like it, but they recognize that landlords’ costs have increased, Revista panelists say
By John B. Mugford
The Revista “Facts & Figures” panel discussion included (from left to right): Mike Hargrave of Revista, Ben Ochs of Anchor Health Properties, John Winer of Rethink Healthcare Real Estate, Alfonzo Leon of Global Medical REIT and Hilda Martin of Revista. (HREI™ photo)
By now, nearly everyone involved in healthcare real estate (HRE) knows that both the sales of facilities, namely medical outpatient buildings (MOBs), and new construction have slowed significantly during the past year or more.
Yet, at the same time, unlike in several of the other major real estate asset classes, tenant demand for MOB and HRE space has increased, meaning occupancies and rents are rising at an unprecedented rate across the country.
While raw data can broadly illustrate these trends, getting the insights of HRE investors, owners and developers helps to paint a clearer picture of what is taking place.
That was precisely the idea behind the opening panel session, a state-of-the-industry session, at the recent 2024 Revista Medical Real Estate Investment Forum (MREIF), held Feb. 27-28 at the Langham Huntington Hotel in Pasadena, Calif. The session was titled, “Facts & Figures: The Current Landscape of Medical Real Estate.”
The annual MREIF conference is presented Arnold, Md.-based Revista, a research firm that compiles and provides a wide range of HRE data for its subscribers. The firm held its RevistaLab life sciences real estate (LSRE) conference the day after the RevistaMed event.
During the opening panel, Alfonzo Leon, chief investment officer (CIO) with Bethesda, Md.-based Global Medical REIT (NYSE: GMRE), which owns a portfolio of about 4.7 million square feet of mostly net-leased MOBs nationwide, said
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