HTA Expands Houston MOB Portfolio
The healthcare sector is increasingly on the radar of institutional real estate investors as the amount of capital pouring into the medical office building sector is robust driven by the recession-resistant fundamentals of this asset class and consistent rates of return. Nationally, publicly traded Healthcare REIT’s have been the most active buyers of medical office buildings in 2017 and that has been the case in Houston as well. Healthcare Trust of America (NYSE: HTA) has been the most active buyers of medical office buildings in the Houston market so far in 2017 with ten (10) assets acquired. Several of these assets were a part of HTA’s $2.25 billion purchase of more than 70 medical office properties from Duke Realty Corp. earlier this year.
Despite the capital flowing into the 1.4 billion square foot outpatient real estate sector from publicly traded REIT’s and private investors, the vast majority of ownership of medical office buildings remains in the hands of Hospital/Health Systems. According to healthcare real estate data firm Revista, approximately 65% of outpatient real estate is owned by Hospital/Health Systems in the United States.
Colliers International has tracked twenty-four (24) medical office building sales in the Houston marketplace so far in 2017 for buildings greater than 10,000 square feet.
2017 Houston Medical Office Building Sales (Q1 – Q3)
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