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Q3 Medical Office Industry Report

November 20, 2024
Q3 Medical Office Industry Report

Q3 Healthcare REIT Highlights

Healthcare Realty Trust
Healthpeak Properties Inc.
Ventas
Welltower

Macroeconomic Highlights

Q3 2024 Healthcare REIT Data Overview – Medical Office

Healthcare Realty Trust (HR) Healthpeak Properties Inc. (PEAK) Ventas (VTR) Welltower (WELL)
Ending Occupancy (Same Store) 2024 89.90% 92.30% 90.00% 94.50%
2023 89.10% 91.30% 91.70% 95.00%
YoY Revenue Increase (Same Store) 2024 1.4% 1.7% 2.2% 1.7%
2023 3.2% 4.0% 5.0% 4.4%
YoY Expense Increase (Same Store) 2024 -1.5% -1.4% 3.4% 0.7%
2023 4.8% 5.1% 9.5% 6.5%
YoY NOI Increase (Same Store) 2024 3.1% 3.4% 1.6% 2.2%
2023 2.3% 3.4% 3.0% 3.4%
NOI/Occupied SF (Same Store) 2024 $22.96 $22.85 $23.60 $26.65
2023 $22.80 $21.44 $24.17 $26.64
Average Lease Term Remaining (Yrs) 4.4 6.2 8.4 7.0
Q2 Medical Office Acquisitions 0 0 0 0
Total Properties 632 527 397 426

Q3 2024 Healthcare Real Estate Operating Fundamentals

Healthcare Real Estate Lease Rates

Healthcare Real Estate Occupancy

Healthcare Real Estate Income & Expenses

Healthcare Real Estate Investment & Transaction Activity

Healthcare Real Estate Cap Rates & Bid-Ask Spread

Headwinds in the Healthcare Real Estate Market

Tailwinds in the Healthcare Real Estate Market

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