Commentary by: Jessica Moore, Financial Analyst, Global Healthcare Services
One hundred and seventy four medical office building transactions closed in December 2020. Even though 13 states (including DC) were without a closing in the month of December, the transaction volume totaled $1.57 billion and over 3.58 million square feet.
The largest single property transaction was Healthcare Realty Trust’s acquisition of the Saddleback Valley Medical Center in Laguna Hills, CA. HRT acquired the 135,904-square-foot property for $84 million.
The largest portfolio transaction was the Welltower/Wafra portfolio consisting of 24 properties and totaling $550 million. The second largest transaction was the Grace Office Portfolio. Made of up 16 dialysis centers in South Carolina, the 139,738-square-foot portfolio was acquired by American Finance Trust for $23 million.
Overall, year-end 2020 transaction volume for medical office building transactions totaled over $10.8 billion with June, December and March posting the highest volume per month ($1.6B+, $1.5B+, and $1.15B+ respectively). Together these three months accounted for 40% of total sales in 2020.
National MOB Transaction Volume (By Month)
Source: Real Capital Analytics preliminary data, as of January 20, 2021
