Kyle O’Connor, president and founder of MLL Capital, only seeks specific types of deals.

“We invest in a fairly narrow type of property, which is medical office, life science and laboratory properties,” O’Connor says. “Without a lot of creativity, the reason why we named the company MLL is because of the property types that we focus on.” Usually, medical, laboratory and life sciences are recession-resistant sectors. But the COVID-19-inspired economic shock has forced furloughs and layoffs in medical offices. Those issues are causing problems in the transaction market. “Transactions are more difficult to do,” O’Connor says.

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