Revista’s Q3 webcast tracked the latest HRE data; gained insights from Nuveen executive
By John B. Mugford
Q3 MOB sales of $4.6 billion were the second highest quarterly total since Revista began tracking such data in 2015. (Chart courtesy of Revista)
As Revista’s third quarter (Q3) webcast came to a close on Oct. 21, Mike Hargrave, one of the firm’s principals, summed up the information the healthcare real estate (HRE) data firm had presented that day.
“The overall theme of this webcast is that medical office buildings and healthcare real estate had a very strong quarter,” he said, adding that the strong quarter was “representative of the current overall state of the sector.”
Indeed, Q3 was a strong quarter for MOBs, highlighted by the fact that sales came in at $4.6 billion, the second highest quarterly total – behind the $4.9 billion of sales in Q2 2017 — since Revista began tracking such data in 2015.
That strong Q3 puts year-to-date MOB sales for 2021 at $9.6 billion, all but assuring that the sector will reach seven straight years of topping $10 billion in sales — a benchmark indicating that the sector is one of the most desirable asset classes among investors of all types.
“In addition to strong sales during the third quarter, MOB sales on a trailing 12-month (TTM) basis, at $13.7 billion, was the highest we’ve seen in several years,” he added. The last time MOB sales on a TTM basis were higher than $13.7 billion was in
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