February Edition: Who is ready for some good news?
• According to revistamed 2021 was a record-breaking year for Medical Office Building (MOB) transactions with preliminary stats now showing more than $16B changing hands. This number is up from $11.7B in 2020. If you're looking to purchase an MOB, call us! We have on and off market opportunities.
• As we've been discussing over the past few newsletters and here, Chicagoland hospital groups are working to expand their marketshare. Earlier this month Northwestern Memorial HealthCare did just that with the purchase of the 419-room Hyatt Centric Chicago Magnificent Mile at 633 N. St. Clair St. The hotel marks the first traditional hotel purchase by the hospital group. Read more below.
We've practiced medical commercial real estate for over twenty years, working with large hospital groups, multi-location medical practices, and medical REITS. Working with and for both tenants and developers. Throughout our tenure we have never seen the demand we are now seeing for medical real estate.
We hope this email finds you in good health. As always, please contact us regarding your commercial real estate needs.
-Kevin O'Donnell
