➤ Key Highlights
National Real Estate Advisors added a 244,520 SF healthcare campus in Great Falls, MT (clinic, surgery center, 46-bed hospital, MOB).
It also acquired a purpose-built inpatient rehab facility in the Orlando metro (Winter Garden, FL).
Cushman & Wakefield arranged the sale of Copper Point, a fully-leased 92,109 SF MOB in Gilbert, AZ.
Remedy / Kayne Anderson’s $7.2B, ~18M SF MOB platform is expected to close mid-2026.
Investors increasingly classify MOB as a core defensive allocation.
➤ SIGNAL
Capital is reloading into healthcare before rates fully ease.
Deals span single assets to multi-billion-dollar platforms.
The thesis is demographic, not cyclical.
Medical office is being bid as a defensive sleeve: leases are sticky, tenants are credit health systems, and outpatient demand grows with an aging population regardless of the rate environment. That combination is rare in 2026.
The spread of activity — a Montana hospital campus, a Florida rehab box, an Arizona MOB, and a national platform — shows the bid is broad, not concentrated in trophy metros. Buyers want yield with durable occupancy.
The $7.2B Remedy/Kayne Anderson transaction sets the institutional benchmark — when platforms of that size trade, smaller MOB owners gain a clearer exit and a tighter cap-rate reference. MOB underwriting now rewards tenant credit and clinical irreplaceability over cap-rate compression bets; the defensive case is durable, but entry pricing is firming as the easy-basis window closes.
➤ TAKEAWAY
Healthcare real estate is being underwritten on demographics, and institutions are buying the certainty.
Source: IREI / Commercial Property Executive / PERE — June 2026
