The use of MOBs has been building for some time. Specifically, an aging population, growing healthcare spending, transformative technologies, and consumer preferences will make medical outpatient buildings an increasingly popular choice for care delivery.
Economic challenges are expected to ease in the upcoming year, allowing the medical outpatient sector to further stabilize and grow, particularly in new geographical areas to better serve patients that live farther away from traditional city centers and hospital locations.
The recapitalized assets comprise four properties located in Texas, Arizona and Nevada, totaling approximately 315,000 square feet. On average, the seed portfolio has 92% occupancy, 4.9 years of weighted average lease term, and a diverse mix of medical tenants.
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