Don't Write Off MOB Monetization

Since 2008-09, health systems have been holding on much more tightly to their medical office buildings.  While the late 1990s and early 2000s saw a number of hospitals and health systems sell the MOBs they occupy to third-party investors – sales often referred to as monetizations  – such transactions have become quite a bit more scarce in recent years.

From the end of 2009 to the start of 2012, for example, there was just a smattering of such deals. However, 2012 saw the return of several large monetizations. Those included: Boston-based Steward Health Care’s $100 million sale of 13 buildings to Healthcare Trust of America; Rome, GA-based Harbin Clinic’s sale of seven buildings for $90 million to Duke Realty Corp. and Scottsdale Healthcare’s sale of eight buildings to HCP Inc. for $81.4 million.