Jay Gangwal of IRA Capital speaks at InterFace Heatlh Market Update

The Feb. 1 InterFace Healthcare Real Estate West “Investment Market Update” panel discussion included (from left to right): Elliott Sellers of Anchor Health Properties, Jay Gangwal of IRA Capital, Jon Sajeski of Sila Realty Trust, Joe Dominguez of Dominguez Capital Advisory and moderator Travis Ives of Cushman & Wakefield.

Source: John B. Mugford. (2023, February 21). InterFace panelists say there’s still a lot of capital flowing into the MOB space. https://wolfmediausa.com/2023/02/21/feature-story-investment-outlook-quick-rebound-or-slow-recovery/

What a difference a year can make.

At the InterFace Healthcare Real Estate (HRE) West conference in Los Angeles in February 2022, a panel discussion devoted to HRE investing was titled, “Who’s Buying, Who’s Selling and Transaction Trends in the Red-Hot Investment Sales Market.”

And rightfully so. The HRE sector was indeed “red-hot” at the time, as sales of medical office buildings (MOBs) had totaled a record $18.6 billion in 2021, according to data from Arnold, Md.-based Revista. Fourth quarter (Q4) 2021 MOB sales of $7.4 billion set another a record – the greatest total ever for a single quarter.

But “hot” changed to “not” last year.