Posts from 'Commercial Real Estate'
Yesterday I spoke with a developer selling medical/dental office. He told me that despite the lack of financing in general, doctors and dentists were still able to find financing through SBA loans.
This is confirmed by an article from NREI Online:
While office building transactions have fallen off a cliff in recent months, one bright spot many industry analysts point to is the medical office building market, where sales typically range from $10 million to $30 million. According to the latest data from Real Capital Analytics, sales of medical office properties totaled $3.3 billion in the first nine months of 2008, a 13% drop compared with the same period a year earlier. But that dip pales in comparison to the 62% dive in property sales for the entire office market in the third quarter.
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