MOB Capital Markets Volumes $16B Q1 +57% YoY
Key Questions
What was the MOB investment volume in Q1 2026 and how does it compare year-over-year?
MOB investment surged to $16B in Q1 2026 according to CBRE data, marking a 57% increase from the prior year. This growth reflects strong institutional demand fueled by outpatient healthcare trends and favorable market conditions.
How are cap rates trending for medical office buildings and net lease assets?
Cap rates for MOBs and net lease properties are decoupling from interest rates, with tenant quality emerging as the primary pricing driver. Recent transactions, such as a Houston MOB sale at 6.8%, and insights from CBRE and Paul Zeman's analysis support this shift.
What recent MOB transactions demonstrate ongoing institutional interest?
Key deals include BGO's acquisition of a fully leased Tampa MOB, Advocate Medical Group's purchase of two Chicago properties, and the $20.4M sale of a Naples medical campus to Montecito Medical. These transactions, alongside Healthcare Realty Trust's expanded financing and guidance raise, highlight sustained demand for high-quality outpatient assets.
MOB investment surges to $16B Q1 2026 (CBRE); Healthcare Realty Trust adds $400M term loan capacity while raising 2026 FFO guidance on 6.9% NOI growth, 93.5% retention and outpatient demand. Houston 57k sf MOB sale and 6.8% cap rate shift signal maturing market for syndication timing. BGO ($89B AUM) acquires new Tampa MOB fully leased to Women's Care and AdventHealth, confirming institutional appetite. New comp: Saugatuck $20.4M medical campus sale in Naples, FL, 100% occupied, sold to Montecito Medical, further validates institutional demand. The Boulder Group's National Net Lease Summit panel (mid-2026) highlights net lease momentum, flight to quality, and medical outpatient assets as a favored sector—useful for syndication positioning. Advocate Medical Group buys two Chicago MOBs, reinforcing strong tenant demand. CBRE video notes cap rate decoupling from interest rates, with tenant quality driving net lease pricing—applicable to healthcare NNN underwriting. Paul Zeman MOB cap rate podcast reinforces outpatient demand and cap rate benchmarks.