HealthCore Pays $130M for Six-Building NorthBay Health MOB Portfolio
Why this matters
Commercial real estate continues to digest a multi-year reset in cost of capital. Transaction velocity is below the 2019-2021 trend but improving, cap rates have stabilized across most stabilized property types, and the bid-ask gap has narrowed materially in the past two quarters. Sponsors with permanent capital and operating platforms have an advantage in the current execution environment. The next twelve months will continue to reward underwriting discipline and operational sophistication over balance-sheet aggression.
Editorial analysis · Real Estate Trail Editorial
Newmark arranged the $130-million sale of the 222,073-square-foot NorthBay Health Medical Outpatient Building Collection, compromised of six fully leased healthcare assets across Fairfield and Vacaville. Co-heads of U…
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