NEWMARK KNIGHT FRANK

SEPTEMBER 2014 HEALTHCARE CAPITAL MARKETS BY NKF SPENCER HOGAN

Healthcare REITs are on track to rank within the top three capital raisers by property sector for 2014. US Healthcare Care REITs collectively raised $6.92 billion YTD as of September 12, 2014 ranking 3rd behind retail and specialty REITs (SNL Financial). Significant healthcare REIT equity offerings included Physicians Realty Trust’s (NYSE:DOC) single common equity offering that resulted in gross proceeds of approximately $153 million in September and Health Care REIT, Inc.’s (NYSE:HCN) completion of its $1.00 billion common stock offering in June. The substantial amount of capital being raised continues to put pressure on the healthcare investment community to deploy capital. According to RCA, September included approximately $700 million (excludes pending sales) in total medical office sales located in the US. Physicians Realty Trust was a market leader in September with the acquisition of seven different properties totaling approximately $114.1 million and averaging an unleveraged cash yield of 7.4%.

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2017 Healthcare Real Estate Outlook