GLOBAL HEALTHCARE SERVICES

NEWMARK

$513M+ in MOB Transactions Closed in March 2020

Commentary by: Jessica Moore, Financial Analyst, Global Healthcare Services

Forty-eight medical office building transactions closed in the U.S. in March, totaling over $513 million and 1.8 million square feet. The average cap rate in March held steady from the prior month at 6.6%. California had the most medical office building transactions with 12 (24.5% of total), followed by Texas with 5 sales (10.2% of total). Texas also saw the largest transaction in March— Harrison Street’s $115 million acquisition of MD Anderson. The average transaction size was $13.5 million. Portfolio sales saw an increase with 7 transactions for the month and an average size of $13.5 million, up from 1 portfolio transaction in February 2020.

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Source: Real Capital Analytics, as of April 22, 2020

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