Healthpeak Properties Acquires MOB and Life Science Portfolio

Healthpeak Properties Acquires MOB and Life Science Portfolio

by | Nov 17, 2020 8:29 am | Medical Office Buildings, Other Services

One of healthcare’s largest REITs is back with two new portfolio acquisitions. Healthpeak Properties, Inc. (NYSE: PEAK), which was formerly known as HCP, Inc., has been an active buyer and seller in the Long-Term Care sector over the past several years, according to search results in our Healthcare Deal Database, but now the REIT is investing in the medical office building (MOB) and life sciences market. Both of these deals were disclosed in the company’s third-quarter earnings report.  First, Healthpeak purchased Cambridge Discovery Park, a 607,000 square foot Class-A life science campus in the West Cambridge submarket of Boston, for $664 million. The property has stabilized cash and GAAP... Read More »
MOB Deals Accelerate in the Third Quarter

MOB Deals Accelerate in the Third Quarter

by | Aug 17, 2020 3:55 pm | Medical Office Buildings, Other Services

Medical office building (MOB) transactions have been flowing steadily throughout the third quarter, with 11 deals on the books so far according to DSO. Most deals are focused on facilities in the Southeastern region of the United States, such as Alabama, North and South Carolina, and Georgia, and the buyers are a mix of REITs, private real estate investment firms, and developers. So far in the third quarter, over 376,000 square feet of MOBs have been sold, with disclosed prices totaling approximately $113.6 million. Unlike other sectors in healthcare, MOBs seem to have benefited from a COVID-19 environment, as noted by JLL ( NYSE: JLL) in a report published in July. The COVID-19 pandemic... Read More »
MOB Deals Accelerate in the Third Quarter

REIT Deals are Still Closing Despite COVID-19

by | May 22, 2020 3:07 pm | Medical Office Buildings, Other Services

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 »
MOB Deals Accelerate in the Third Quarter

Welltower Shuffles Medical Office Building Portfolio

by | Nov 15, 2019 4:07 pm | Medical Office Buildings, Other Services

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 »