Nuveen Real Estate has moved into the healthcare sector in a big way. Since 2019, the leading investment manager has built a portfolio of more than $2.5 billion. With the sector poised for even greater growth due to the increasing popularity of MOB’s as well as the mounting demand for senior living facilities, Nuveen is planning to increase its investment.
Caddis, a Dallas-based developer exclusively focused on healthcare real estate, has broken ground on a 60,000-square-foot project in Frisco.
Frisco Medical Pavilion II will be located at 12850 Dallas Parkway, just north of Texas Health Frisco, a full-service hospital that opened in 2019.
Dallas-based Grace Hebert Curtis Architects is designing the project, and Novel Builders is serving as the general contractor.
Transwestern is the leasing agent. Completion is slated for early 2024.
Source: REBusiness Online
At a time when U.S. and international headlines have been full of bad news, there seems to be nothing but good news to report about the healthcare real estate (HRE) space.
To start with, medical office building (MOB) sales in 2021 – despite the lingering of the COVID-19 pandemic – broke the all-time record for volume at $17.4 billion, topping the previous record of $15.4 billion set in 2015.
In addition, occupancy rates increased significantly last year, absorption of MOB space is as strong as ever, MOB construction starts are on the rise, and third-party owned MOB projects made up a larger share of projects than any of the previous seven years.
This data and more was presented during a session at last week’s Revista Medical Real Estate Investment Forum 2022, which was held at the Loews Coronado Bay Resort from March 2-4. The annual event is put on by Arnold, Md.-based Revista, which gathers a wide range of HRE data for its subscribers.
Kicking off the agenda on the second day of the conference, March 3, Revista Principals Mike Hargrave and Hilda Martin provided the audience with a wide variety of data from 2021 during a session titled “Medical Real Estate Trends & Top Markets.”
Source: HREI
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