Mid-Year Review: Healthcare Real Estate “Bounce Back” in 2024

Through the first-half of 2024, the healthcare real estate sector has remained resilient, outpacing other commercial real estate classes, such as office and retail, due to strong post-pandemic fundamentals with favorable age demographics, increased rents, low vacancy rates, and institutional investors seeking more stable risk-adjusted investment returns.

In addition, M&A activity has been strong throughout 2024, outpacing 2023, and shows no signs of slowing down as the volume of M&A transactions involving pharmaceuticals, life sciences, and healthcare provider services are forecasted to continue as investors adjust their underwriting and become more comfortable transacting in an elevated interest rate environment. The robust M&A environment should have a positive impact on healthcare real estate volume and valuations.

Projected Interest
Rate Cuts

With projected interest rate cuts in the last half of 2024, along with stock market volatility, an election year, and geopolitical uncertainty, investors are seeking stable cash flow with strong operators and are actively seeking opportunities in the healthcare real estate space to deploy capital. The healthcare sector has continued to be on the forefront to adapting to the changing demands of the industry.

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Completed Engagements

News

Best-Med Urgent Care Clinic

Best-Med Urgent Care Clinic | Casper-WY

Dignity Health Micro-Hospital

Dignity Health Micro-Hospital | Phoenix, AZ MSA

Clifton Medical Office Park

Three (3) Free-Standing MOBs | Clifton Park, NY

Effingham Ambulatory Surgery Center

Multi-Specialty Outpatient Surgery Center | Effingham, IL

Specialists Hospital Shreveport

Specialty Surgical Hospital & MOB Portfolio | Shreveport, LA

7-Property Medical Office and Outpatient Surgery Center Portfolio

Ophthalmology MOB and Surgery Center Portfolio | Northwest South Carolina

Carolina Cardiology Associates MOB Portfolio

Single-Specialty MOB | Charlotte, NC MSA

Baptist Health Cumberland Valley Surgical Center

Multi-Specialty ASC | Corbin, KY

11-Property Medical Office Portfolio

Medical Office Portfolio | Eight (8) States

West Valley Medical Plaza

Multi-Tenant MOB | Goodyear, AZ.

Copper Peak Medical Building

Multi-Tenant Medical Building | American Fork, UT.

TMI Sports Medicine & Orthopedic Surgery

Medical Office Building | Arlington, TX

St. Louis MOB Portfolio

Medical Office Portfolio | St. Louis, MO

Duly Health & Care MOB

Multi-Tenant Medical Office Building | Joliet, IL

Riverside Cancer Center

Medical Office Building | Chesapeake, VA

UPMC Pinnacle Health MOB

Medical Office Building | Enola, PA

Southcoast Health MOB

Multi-Tenant MOB | Fall River, MA

Kansas Spine & Specialty Hospital

Physician-Owned Hospital & MOB | Wichita, KS

Ohio Valley Surgical Hospital & MOB Portfolio

Physician-Owned Hospital & MOB | Springfield, OH

Northwest Specialty Hospital & MOB Portfolio

Physician-Owned Surgical Hospital & MOB | Post Falls, ID

Flagstaff MOB & ASC

State-of-the-Art MOB & ASC | Flagstaff, AZ

Surgery Center of North Texas

Outpatient Surgery Center | Anna, TX

Silverstein Institute

On-Campus Medical Office Building | Sarasota, FL

9-Property Medical Office Portfolio

Medical Office Portfolio | Ann Arbor, MI

Genoa Medical Center

Multi-Tenant Medical Office Building | Brighton, MI

Edgewood Surgical Hospital

Physician-Owned Surgical Hospital | Transfer, PA

South Texas Surgical Hospital

Surgical Hospital & Outpatient Surgery Center | Corpus Christi, TX

Current Engagements

In Market List

GHP Hospital Odessa

GHP Hospital Odessa is a short-stay surgical hospital and outpatient surgery center located in Odessa, TX (the “Property” or “Facility”). The Property is being offered for sale or for lease on an exclusive basis to qualified buyers or tenant(s).

Texoma Dialysis Center

Texoma Dialysis Center offers investors a unique opportunity to acquire a newly built free-standing dialysis center (“Property” or “Facility”) that is strategically located adjacent to the Texoma Medical Center, and conveniently located near two other hospitals in the area. Texoma Medical Center is a 414-bed acute care hospital that is located approximately one hour north of the DFW metroplex and just south of the Texas/Oklahoma border.

UNC Chapel Hill MOB

UNC Chapel Hill MOB offers investors the opportunity to acquire a modern Class “A” medical office building located in Chapel Hill, NC, home to The University of North Carolina at Chapel Hill and UNC Health Care.

HCA College Park MOB Portfolio

HCA College Park MOB Portfolio offers qualified investors a unique opportunity to acquire a well-located and established portfolio of single-tenant medical office buildings. With locations in Overland Park, Lenexa, and Stanley, the Portfolio is within the Kansas City metropolitan area, serving a population base of over 2.3 million residents (#31 largest MSA).

DaVita Seven Oaks Dialysis

Bakersfield, CA

DaVita Seven Oaks Dialysis offers investors the opportunity to acquire a freestanding dialysis clinic conveniently located in Bakersfield, CA. The built-to-suit location consists of approximately 9,500 rentable square feet and is outfitted with the newest in advanced technology, providing patients access to 24 treatment stations and one (1) isolation unit.

DaVita Bakersfield Oak St. Dialysis

Bakersfield, CA

DaVita Bakersfield Oak St Dialysis offers investors the opportunity to acquire a freestanding dialysis clinic conveniently located in Bakersfield, CA. The built-to-suit location consists of approximately 9,500 rentable square feet and is outfitted with the newest in advanced technology, providing patients access to 24 treatment stations.

DaVita Arvin Dialysis

Arvin, CA

DaVita Arvin Dialysis offers investors the opportunity to acquire a freestanding dialysis clinic conveniently located in Arvin, CA, the only dialysis clinic within a 20-mile radius. The built-to-suit location consists of approximately 7,340 rentable square feet and is outfitted with the newest in advanced technology, providing patients access to 15 treatment stations and one (1) isolation room.

DaVita Delano Dialysis

Delano, CA

DaVita Delano Dialysis offers investors the opportunity to acquire a freestanding dialysis clinic conveniently located in Delano, CA. The built-to-suit location consists of approximately 9,630 rentable square feet and is outfitted with the newest in advanced technology, providing patients access to 31 treatment stations and one (1) isolation unit.

Riverside University Health System MOB Portfolio

The Riverside University Health System MOB Portfolio offers qualified investors a unique opportunity to acquire a well-located and established portfolio of two (2) single-tenant medical office buildings that are 100% leased by the County of Riverside (S&P Rated ‘AA-‘) and occupied by the Riverside University Health System (collectively, “Portfolio” or “Properties” and individually, “Property” or “Building”).

Micro Hospitals

This investment offering is confidential. For additional information, please reach out to one of HREA’s professionals.

Pocono Medical Buildings

East Stroudsburg, PA

Pocono Medical Buildings offer investors the opportunity to acquire two (2) multi-tenant medical office buildings that are centrally located in East Stroudsburg, Pennsylvania, in eastern Monroe County. The Properties are well-located, being adjacent to the Lehigh Valley Hospital (LVHN) – Pocono, one of the nation’s most respected health networks, offering care in 95 clinical specialties across 13 hospital campuses.

Physician-Owned Specialty Hospital

This is a confidential investment offering. For additional information, please contact one of HREA’s professionals.

Michigan ENT & Allergy Specialists Portfolio

Michigan

Michigan ENT & Allergy Specialists Portfolio offers qualified investors a unique opportunity to acquire a well-located and established portfolio of single tenant medical office buildings. The Properties are located throughout the Grand Rapids – Kentwood, MI metropolitan area, serving a large population base of more than 1.1 million residents.

San Antonio On-Campus MOB

San Antonio, TX

5109 Medical Drive offers qualified investors a unique opportunity to acquire a 100% leased two-tenant medical office and clinical research building located adjacent to CHRISTUS Santa Rosa Hospital within the South Texas Medical Center in San Antonio, TX.

Clifton Park Health Park

Clifton Park, NY

Clinton Park Health Park is a multi-tenant medical office building that is 100% leased to an array of high-quality tenants, including Community Care Physicians and Albany Medical College, a wholly-owned subsidiary of Albany Med Health System, which collectively account for 89% of the tenancy.

St. Peter's Medical Arts Building

Clifton Park, NY

St. Peter’s Medical Arts Building is a single-tenant medical office building that is 100% leased to St. Peters Health Partners Medical Associates, one of the Capital Region’s largest multi-specialty physician groups with more than 850 physicians and advanced practitioners in more than 130 locations.

Schodack Internal Medicine & Pediatrics

Schodack, NY

Schodack Internal Medicine & Pediatrics is a medical office building that is 100% leased to Community Care Physicians and occupied by Community Care Physicians’ Schodack Internal Medicine and Pediatrics, the largest multi-specialty physician group in the region.

St. Peter's Health Partners Medical Associates

Albany, NY

St. Peter’s Health Partners Medical Associates is a single-tenant office building that is 100% leased to St. Peter’s Health Partners Medical Associates, serving as St. Peter’s Health Partners’ administrative offices.

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