{"id":1004082983,"date":"2013-09-03T06:42:13","date_gmt":"2013-09-03T14:42:13","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004082983"},"modified":"2022-12-07T21:24:03","modified_gmt":"2022-12-08T05:24:03","slug":"jll-mobs-still-a-hot-ticket-among-investors","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/jll-mobs-still-a-hot-ticket-among-investors\/","title":{"rendered":"JLL: MOBs Still a Hot Ticket Among Investors"},"content":{"rendered":"<p><em>By Barbra Murray, Contributing Editor<\/em><\/p>\n<div id=\"attachment_100408\" style=\"width: 160px\" class=\"wp-caption alignleft\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2013\/09\/JLL-Mindy-Berman.jpg\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-100408\" data-attachment-id=\"1004082986\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/jll-mobs-still-a-hot-ticket-among-investors\/jll-mindy-berman\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2013\/09\/JLL-Mindy-Berman.jpg\" data-orig-size=\"240,254\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;}\" data-image-title=\"JLL &#8211; Mindy Berman\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2013\/09\/JLL-Mindy-Berman.jpg?w=240\" class=\"size-thumbnail wp-image-1004082986\" alt=\"JLL - Mindy Berman\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2013\/09\/JLL-Mindy-Berman.jpg\" width=\"150\" height=\"150\" \/><\/a><p id=\"caption-attachment-100408\" class=\"wp-caption-text\">Mindy Berman, of JLL<\/p><\/div>\n<p>Judging by recent research conducted by Jones Lang LaSalle&#8217;s Healthcare Capital Markets group, investors cannot get enough of the medical office building subsector of healthcare real estate. Evidence from the commercial real estate services firm&#8217;s mid-year 2013 study is in the billions&#8211;$3.5 billion in MOB and MOB portfolio sales, to be exact.<\/p>\n<p>The usual suspects are in the game, but the continued high performance of MOBs and growing user demand are reeling in new players. &#8220;There are new non-traditional investors coming into the MOB space [and] this includes pension funds, sovereign buyers and institutional investors seeking stable income generally,&#8221; Mindy Berman, Managing Director of JLL&#8217;s Healthcare Capital Markets group, told <em>Commercial Property Executive<\/em>. &#8220;The most active continue to be the public healthcare REITs, as well as the non-listed healthcare REITs.&#8221;<\/p>\n<p>Just halfway through 2013, 124 MOBs valued at more than $1.8 billion had changed hands. The numbers are impressive, though not quite as high as those during the first half of 2012, when a total of 171 properties traded for approximately $2.2 billion. Additionally, the sale of MOB portfolios dropped from 11 groupings of assets with a total value of just over $2 billion in 2012 to seven groups accounting for $1.7 billion.<\/p>\n<p>But there is a reason behind the year-over-year decline in volume despite a growing demand for these assets among investors: capital gains. The 2012 numbers are somewhat skewed as the spike in activity at the end of 2012 due to the impending increase in capital gains resulted in a sluggish first quarter in 2013.<\/p>\n<p>However, a clearer, perhaps more accurate picture of the increased year-over-year competition for MOB assets is demonstrated through the rise in the average sale price, which jumped from $161 per square-foot during first half of 2012, to $197 per square-foot during the first half 2013. The exorbitant amount of funds being raised in the healthcare real estate arena in a climate where purchasing opportunities are comparatively limited is pushing up prices to historic levels and continuing to place downward pressure on cap rates.<\/p>\n<p>Regardless of where the numbers were at the mid-year point, JLL still anticipates that by the close of 2013, MOB sales volume will have outpaced that of 2012. And there&#8217;s no end in sight to investors&#8217; seemingly insatiable appetite for the product type. &#8220;There continues to be enormous capital raised for healthcare which is outstripping the supply of properties available\u00a0so I expect 2014 to continue to be very active.&#8221;<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Judging by recent research conducted by Jones Lang LaSalle&#8217;s Healthcare Capital Markets group, investors cannot get enough of the medical office building subsector of healthcare real estate. <\/p>\n","protected":false},"author":969,"featured_media":1004082986,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21754,21742],"tags":[],"class_list":["post-1004082983","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-medical-office","category-latest"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - 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