REIT Deals are Still Closing Despite COVID-19

REIT Deals are Still Closing Despite COVID-19

Despite COVID-19 taking a hit on REIT stocks and earnings, especially in the senior care industry, some buyers managed to close deals in May, primarily for medical office buildings. This might come as a surprise since physician practices are getting hit especially hard by COVID-19, so these deals may have been in the works before the pandemic crashed into the economy, or real estate values are running cheap. Just this week, Anchor Health Properties, a full-service real estate development, management, and investment company focused on healthcare property, announced its purchase of the Walther Professional Center, an 18,471-square-foot medical office building located close to Northside... Read More »
REIT Deals are Still Closing Despite COVID-19

Welltower Shuffles Medical Office Building Portfolio

Welltower Inc. (NYSE: WELL), one of the largest diversified healthcare REITs, is mixing up its medical office building portfolio. Although Welltower is incredibly active in the Long-Term Care sector with its post-acute care facility portfolio, its MOB portfolio is worth highlighting. So far this year, the company has announced $3.5 billion worth of outpatient medical acquisitions. The most recent acquisition involves the purchase of a 29 Class-A medical office portfolio from Hammes Partners for $787 million. The portfolio totals 1.5 million square feet and has an average age of 10 years, with 12 years of weighted average lease term and 2.2% average annual rent increases. The... Read More »