Issue link: https://beckershealthcare.uberflip.com/i/1523628
17 TRANSACTIONS Medical office building investments on the decline in Q1 By Claire Wallace I nvestment in medical office buildings fell by 21% year over year in the first quarter of 2024, declining to $1.6 billion, according to a May 20 report from real estate investment firm CBRE. ough investments were on the decline, prices for medical property space continued to increase, up $1 per square foot from the fourth quarter of 2023. Rent for medical office space was also on the rise, up 0.5% quarter over quarter, and 1.3% year over year to $24.70 per square foot. Across the 59 medical office markets monitored by CBRE, there is currently 11.2 million square feet of medical office inventory under construction. n Florida ASC, medical office building sold for $12M By Claire Wallace A Jacksonville, Fla.-based medical office building has sold for $12.05 million, according to a May 28 report from Jacksonville Business Journal. e facility houses Jacksonville-based Coastal Health's orthopedic, spine, pain management, podiatry and physical therapy practices. e 30,165-square-foot building also houses an 8,000-square-foot ASC. e building was acquired by real estate investment company Vitalis. It is the company's second acquisition in Jacksonville in the last year, according to the report. n Remedy, Kanye Anderson acquire ASCs, outpatient centers for $252M By Paige Haeffele H ealthcare real estate companies Remedy Medical Properties and Kanye Anderson Real Estate acquired 37 medical properties across 13 states for $252 million. The portfolio consists of more than 708,000 square feet of medical properties, including ASCs, physician practices, imaging centers and surgical hospitals, according to a May 2 news release shared with Becker's. The properties are leased by tenants such as Dallas-based ASC operator United Surgical Partners International, Charlotte, N.C..- based Advocate Health, and Tampa (Fla.) General Hospital. Remedy and Kanye Anderson are the largest private owners of healthcare real estate nationwide. n Pennsylvania medical office building sold for $10.5M By Ariana Portalatin Sila Realty Trust recently acquired a medical outpatient building in Reading, Pa., for $10.5 million. The two-story, 30,000-square-foot building is located on the campus of a 144-bed Tower Behavioral Health center constructed in 2020, according to a May 22 news release. Sila Realty Trust is a healthcare-focused real estate investment trust that owns more than 130 properties in 64 markets across the U.S. n Boston medical office building acquired for $36.4M By Claire Wallace A 10-story medical office building in Boston has been acquired for $36.4 million; substantially less than it was sold for just three years ago, according to a May 28 report from the Boston Business Journal. The building was purchased by real estate investors Kayne Anderson and Chicago-based Remedy Medical Properties. It is fully leased to Optum affiliate Atrius Health. In 2021, the 52,000-square-foot property sold for $48 million. The facility is one of the largest medical office buildings in Boston, housing both primary and specialty care services. n