Commentary by: Eric Murphy, Managing Director Global Healthcare Services
MOB transactions started off the year with 300 properties closed in the first quarter, totaling $3.5 billion in transaction volume, an 84% increase compared to the first quarter of 2021. Cap rates continue to compress, with the overall average slightly up to 6.1% compared to 5.9% in the fourth quarter of 2021. Pricing, however, remains competitive for MOBs. The average deal size for the properties closing in the first quarter was $11.7 million with an average price per square foot of $345.
Source: Real Capital Analytics, Newmark Global Healthcare Services
