The Year’s Biggest MOB Deal Could Be A Foreclosure
Although Ventas did not delineate the MOBs that are included, a search of the RevistaMed database found that Santerre is listed as the owner of about 100 properties. The largest is the 169,000 square foot Elm Plaza at 908 N. Elm St. in Hinsdale, Ill. (PHOTO CREDIT: OfficeSpace.com.)
Most healthcare real estate (HRE) professionals seem to agree that, primarily due to higher interest rates, 2023 medical office building (MOB) sales volume will pale in comparison to recent years.
So the recent announcement that an 88-asset MOB portfolio is about to change hands is big news – and could very well end up being the year’s largest transaction. But, ironically, higher interest rates are exactly what are driving the deal.
Chicago-based Ventas Inc., the nation’s second largest healthcare real estate investment trust, announced on March 31st that it intends to foreclose on a large HRE portfolio that was put up as collateral for a 2019 loan.
Source: HREI
