Jon Buehner discusses the firm’s $3.5B in first-half activity and the outlook
By John B. Mugford
Jonathan “Jon” Buehner
Capital One says it closed, or was in the process of underwriting, more than $3.5 million in loan commitments through June 30, 2026, a 75 percent increase compared to the same six months of last year, and a reflection the continued rebound of the medical outpatient building (MOB) lending sector.
When it released its mid-year report at about this same time last year, the Capital One Medical Properties team, a unit of McLean, Va.-based Capital One Financial Corp. (NYSE: COF), reported that it had closed, or was in the process of underwriting, about $2 billion of deals, which marked an increase of about 67 percent year-over-year from the first half of 2024.
That positive trend is continuing into 2026 as the MOB lending sector continues to recover from the slowdown in sales and financings that hampered the industry from 2023-24.
The Capital One team reports that in the first half of 2026 it was engaged in more than 25 transactions – closed or in underwriting – totaling, as noted above, more than $3.5 billion in loan commitments. As the largest lender in the MOB space, the group’s results serve as a bellwether for the broader medical outpatient capital markets.
During the past 12 months or so,
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