Preliminary Q2 volume of $1.52 billion would be the least since Revista began tracking
By John B. Mugford
The preliminary MOB sales volume of $1.52 billion for the second quarter (Q2) of 2025 was the lowest quarterly total during the past 37 quarters, Arnold, Md.-based HRE research firm Revista said during its quarterly subscriber webcast July 24. (Slide courtesy of Revista)
The rebound that many healthcare real estate (HRE) professionals have been predicting for medical outpatient building (MOB) sales has not yet taken place – at least not through the end of the second quarter (Q2).
In fact, the preliminary sales volume of $1.52 billion for Q2 was the lowest quarterly total in during the past 37 quarters, according to the Arnold, Md.-based HRE research firm Revista.
The Q2 sales volume was even slightly less than the volume in Q1, which at $1.6 billion had been the lowest quarterly volume recorded by the firm’s RevistaMed service in nine years. However, one should note that the Q2 volume is still preliminary, as more deals are likely to be found and added to the total.
That information was shared last Thursday, July 24, during the RevistaMed Q2 2025 Subscriber Webcast, in which the data firm’s Hilda Martin, principal, and Stephen Lindsey, research analyst, presented a wide range of Q2 data.
Joining them on the webcast to present the viewpoint of a health system real estate executive was Jennifer Siemen, director of real estate strategy with Chicago-based Northwestern Medicine, which operates 11 hospitals and more than 280 locations with a total of more than 17 million square feet of space.
As noted, although the MOB sales volume remained slow during Q2, several HRE professionals have told HREI™ that more than 10 sizable portfolios and other high-priced single assets are currently on the market and have a good chance of selling. If that happens, they say, the volume should increase substantially in the second half of the year.
As for Q2, Mr. Lindsey noted that the MOB sales volume on a trailing 12-month (TTM) basis as of the end of the quarter was
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