Healthcare and medical office have reputations as largely inflation-proof and good investments at almost any time. A number of events around the U.S. are showing that no property type is "safe," even hospitals that are in Massachusetts, a darling of the industry.

Healthcare in the state — home to massive care systems and teaching and research institutions — is facing some difficult times. The Department of Public Health increased the risk rating of hospitals in the greater Boston area and the region to the northeast of the city to so-called Tier 3 created during the height of the pandemic. It is the most serious level based on spikes in diseases, emergency department usage, and bed availability in hospitals.

"Tier 3 requires hospitals in the affected region to meet frequently to share bed availability, and may result in facilities implementing 'gradual and dynamic reductions in elective, non-urgent procedures and services,'" wrote the Massachusetts Health & Hospital Association (MHA). "Region 5 (Southeastern Mass. and the Cape and Islands) has been in Tier 3 since the beginning of 2023, following the fire at Signature Brockton Hospital on top of the prolonged closure of Norwood Hospital due to flooding."