Medical Office Buildings Have Remained Strong Through It All

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As was predicted, albeit with some caution, medical office buildings (MOBs) have held up very well from as an investment and property type since the onset of the COVID-19 pandemic.

This statement comes not just from an anecdotal point of view, but from one of statistics and data.

During the Healthcare Virtual Conference 2020 sponsored and webcast Sept. 24 by Seattle-based Colliers International, Mike Hargrave, principal with healthcare real estate (HRE) research and data firm Revista, provided the most recent data concerning the health of the MOB product type. Mr. Hargrave provided the virtual audience with a lot to chew on during the “Revista Lunch and Learn” presentation.

 

Source: HREI

 

Dallas Investors Buy The Las Colinas Medical Building In Irving, Texas

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Dallas-based Ridgeline Capital Partners has purchased a 70,000-square-foot medical office building in Irving.

The three-story building is at 6121 N. State Highway 161 and was acquired in a joint venture with Harrison Street, a Chicago-based investor. The building was constructed in 2019 to house primary care physicians.

The property is near Medical City Las Colinas hospital and is more than 80% leased to tenants including UT Southwestern Medical Center. An ambulatory surgery center will open in the building early next year.

“This is a medical campus with best-in-class tenants that provide a wide range of services for patients in one convenient location,” Jeff Axley, managing principal for Ridgeline, said in a statement. “The building was attractive to us due to its triple A credit-rated anchor tenant UT Southwestern Medical Center, Ambulatory Surgery Center and strategic location adjacent to Healthcare Associates of Texas, which provide additional primary care patient referrals to our tenants.”

Ridgeline Capital Partners acquires and operates medical office buildings, health care real estate and behavioral health facilities in Texas and the Southeast.

 

Source: The Dallas Morning News

ShareMD’s $89 Million Financing Of Medical Office Building Portfolio

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ShareMD announced its financing of a Medical Office Building Portfolio with Starwood Mortgage Capital.

The $89 million loan transaction closed on September 25. The portfolio consists of eight medical office properties comprising of approximately 297,985 rentable square feet.

ShareMD acquires, develops, and manages medical office buildings across the United States. It is one of the largest private investors in medical real estate in Florida and California with more than 950,000 total rentable square feet of commercial medical office space in the two markets. A medical real estate and physician practice solution company, ShareMD leases retail medical space.

The Greenberg team was led by Danielle Gonzalez, Theresa K. Bowley, Kathryn Corral, Jonathan I. Lessner and Brian L. Colborn.

 

Source: Global Legal Chronicle