HRE Activity Showing Encouraging Uptick: New RevistaMed Data Reveals Rise In Sales And Development

At the 2026 Revista Medical Real Estate Investment Forum (MREIF) — held February 3–4 at the Terranea Resort in Rancho Palos Verdes, California — senior leaders from the healthcare real estate sector gathered to share data, market insights and forward-looking trends affecting investors, developers, and operators.

The “By the Numbers” session at the Revista MREIF Feb. 3 included (from left to right): Hilda Martin of Revista, Ben Ochs of Anchor Health Properties, Erik Hill of Partner Valuation Advisors, Griffin Torres of IRA Capital and Mike Hargrave of Revista. (PHOTO CREDIT: Revista)

During the forum’s data presentations, RevistaMed highlighted a picture of renewed momentum in both sales (transaction activity) and development (construction and project starts) in medical real estate, with medical office buildings (MOBs) at the core of this shift.

In terms of sales activity, RevistaMed’s national data shows that over the past 12 months roughly $6.8 billion in MOB properties have traded across the top 100 U.S. metropolitan areas. This level of sales reflects solid underlying demand for these assets, even in a broader investment environment where capital markets have been selective.

MOBs dominate healthcare real estate transactions and continue to attract investor interest because of their strong cash-flow characteristics and relative resilience compared with other commercial property types. Occupancy across this cohort of markets has been very high — around 92.8 % — and rent growth, while modest, continues — underscoring why buyers are willing to transact when pricing and financing conditions align.

RevistaMed and complementary industry reporting also pointed to an overall trend toward stable fundamentals in medical office investment. For example, data compiled through late 2025 from other commercial real estate trackers showed substantial volumes of healthcare real estate changing hands — with MOBs accounting for the largest share of both property count and dollar volume — and cap rates for MOB investments holding at relatively attractive levels compared with broader commercial property categories.

On the development side, RevistaMed’s analytics indicate that the supply pipeline for medical office space has been relatively measured. As of mid-2025 there were about 24.7 million square feet of MOBs under construction across the top 100 U.S. metros, a figure that, while modest relative to total inventory, points to meaningful activity by developers and health systems responding to demand from providers seeking modern clinical space. This measured pace of construction comes against a backdrop of tight fundamentals — where occupancy has climbed and net absorption has been positive — which helps justify new development even as labor and material costs remain elevated.

At the forum itself, sessions on medical construction and development underscored both the challenges and opportunities in bringing new healthcare real estate projects to market. Panel discussions explored how developers are navigating higher costs, financing constraints, and supply chain factors while still moving forward with key projects in regions where provider demand is strong. That dialogue signaled confidence among industry stakeholders that development activity, even if cautious and selective, is on an upward trajectory after years of slower starts.

Overall, the RevistaMed data presented at MREIF painted a narrative of a sector where transaction volumes have rebounded and developers are selectively advancing new projects, supported by strong occupancy and demand fundamentals. Even though broader economic headwinds and financing challenges persist, healthcare real estate — particularly medical office assets — continues to attract investment and spur new development as owners and investors seek stable, long-term returns.

Source: HREI