After a record-setting year in 2013 for medical office sales, many analysts predicted a slowdown in 2014, says Smelter. While there has been a lessening in the volume of medical office property sales, especially between the record-setting fourth quarter of 2013 and the first quarter of 2014, demand for the product remains high and pricing continues to be strong.
Changes in healthcare policy and demographic shifts will keep boosting demand for medical office space, adds Smelter, although investors must keep in mind that healthcare providers have to innovate in order to improve efficiency and profitability in the face of rising costs, an intensifying physician shortage, reduced reimbursements and elevated accountability.
Among Smelter s sales in the second quarter were an on-campus single-tenant medical office building, an on-campus value-add two- property portfolio and a single-tenant two-property medical office portfolio, all of which closed in separate transactions.
At the end of the first quarter, Smelter also represented ScanlanKemperBard and the
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