Construction starts are down, too, driving occupancies higher, Revista says
By John B. Mugford
To find a slower quarter for MOB sales than Q1 2024, you must go back at least an entire decade, to Q1 2014, to when Revista began keeping track and the total was about $700 million. Just two years ago, in Q1 2022, sales were nearly five times more at $5.9 billion. (HREI™ photo)
Just how severe is the current slowdown in medical outpatient building (MOB) sales?
Consider this: Four of the past five quarters, including the first quarter (Q1) of this year, were the lowest quarters for MOB sales volumes during the past eight years.
And of those four sub-par quarters, preliminary data indicates that Q1 2024 MOB sales were the weakest of all, at $1.2 billion. To find a slower quarter, you must go back an entire decade, to Q1 2014, to when the healthcare real estate (HRE) data service Revista began keeping track, and the total was about $700 million. By contrast, just two years ago, in Q1 2022, quarterly sales were nearly five times more at $5.9 billion.
Arnold, Md.-based Revista shared the data during its Q1 subscriber webinar, held last Tuesday, April 23. Stephen Lindsey, a Revista research analyst, emphasized during the webinar that
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