Insider’s Insight: Analyzing MOB Market Trends with Mindy Berman of JLL Capital Markets

Insider’s Insight: Analyzing MOB Market Trends with Mindy Berman of JLL Capital Markets

Despite a recent uptick in M&A activity in Q1:24, the medical office building (MOB) market remains in flux. To understand the underlying dynamics, we spoke with industry expert Mindy Berman, Senior Managing Director in the Healthcare Capital Markets Group at JLL, a leading global commercial real estate and investment management company. JLL is the top capital markets intermediary in both the United States and globally, as well as the leading MOB broker in the United States. Between 2017 and 2022, JLL advised on 35% of all medical office sales, amounting to more than $7 billion in disclosed prices. The company has remained active since then, with 26 transactions announced during 2023,... Read More »
Montecito Medical Acquires MOB Portfolio in Wisconsin

Montecito Medical Acquires MOB Portfolio in Wisconsin

Montecito Medical Real Estate announced on March 19 that it has acquired two buildings in the Milwaukee suburb of Germantown, Wisconsin. The two adjacent properties encompass a total of 92,573 square feet. The medical office building (MOB) portfolio is 100% occupied by Advocate Aurora Health, the third-largest nonprofit, integrated health system in the United States, operating more than 65 hospitals and 1,000 care sites. Providers at both properties deliver a wide range of health services. One of the buildings includes an ambulatory surgery center with six operating rooms and MRI/CT imaging. Montecito Medical specializes in healthcare-related real estate acquisitions and funding. Since... Read More »
Broward Health Buys MOB in Coral Springs, Florida

Broward Health Buys MOB in Coral Springs, Florida

Broward Health has purchased a Coral Springs, Florida medical office building (MOB) for $11 million. The property last traded ownership for $5.8 million in 2018, so it has nearly doubled in value, reflecting the strong demand for medical office space in Broward County. The property is a 40,926-square-foot MOB located north of Broward Health Coral Springs. The five-story building was constructed on the 1.34-acre site in 1974. Broward Health is a public, non-profit health system operating more than 30 healthcare facilities. With more than 7,590 employees, Broward Health services all segments of the community through its four hospitals, a children’s hospital, seven primary care centers,... Read More »
Montecito Medical Acquires MOB Portfolio in Wisconsin

Montecito Medical Acquires Two MOBs in Minnesota

Montecito Medical Real Estate announced on March 12 that it has purchased two medical office buildings (MOBs) in Minnesota, marking its third transaction of the year. The two MOBs, which encompass a total of 13,100 square feet, are located in the suburban communities of Maplewood and Apple Valley, Minnesota in the Minneapolis–Saint Paul MSA. Both are 100% occupied by Minnesota Women’s Care. Montecito Medical Real Estate specializes in healthcare-related real estate acquisitions and funding. Since 2006, it has completed transactions across the United States involving more than $5.1 billion in medical real estate. The acquisition of the MOB expands Montecito Medical’s presence in the... Read More »
Montecito Medical Acquires MOB Portfolio in Wisconsin

Montecito Medical Acquires MOB in Peoria, Illinois

Montecito Medical Real Estate announced that it has acquired a 16,000-square-foot medical office building (MOB) in Peoria, Illinois. The building is 100% occupied under a long-term lease by Springfield Clinic, a leading health provider in north central Illinois. The building includes an OB/GYN clinic, 26 exam rooms, two ultrasound rooms, a procedure room and a designated lab space. Montecito Medical Real Estate specializes in healthcare-related real estate acquisitions and funding. Since 2006, it has completed transactions across the United States involving more than $5.1 billion in medical real estate. “We are thrilled to expand our medical real estate footprint in Illinois, and... Read More »
CBRE Arranges Sale of MOB Portfolio in Kentucky

CBRE Arranges Sale of MOB Portfolio in Kentucky

CBRE Group, Inc. announced that it has arranged the sale of a portfolio of six medical office building (MOB) properties in Northern Kentucky to Remedy Medical Properties. CBRE represented the seller, Zalla Companies, in the transaction. Financial terms of the deal were not disclosed.  Totaling 145,308 square feet, the properties are located in Florence, Fort Mitchell, Crittenden, Walton, Alexandria and Butler, Kentucky. St. Elizabeth Physicians, a health system based in Erlanger, Kentucky, fully occupies the portfolio.  Remedy Medical Properties is a full-service healthcare real estate company and the largest private owner of healthcare properties in the country, with more than... Read More »