Healthcare real estate spans from a physician’s office to a hospital campus. Each type has its own tenants, economics and rules.
Medical office buildings
On-campus and off-campus buildings housing physician practices, clinics and diagnostic services; the largest investable category.
Hospitals and inpatient
Acute care, specialty and rehabilitation hospitals, usually owned by health systems; capital-intensive and highly regulated.
Outpatient and specialty
Ambulatory surgery centers, urgent care, imaging, dialysis, behavioral health and freestanding emergency departments.
Senior housing and life sciences
Independent living, assisted living, memory care and skilled nursing; laboratories and research facilities.
In practice
Learn to identify which type a property is by its tenants and building systems. Ventilation, power and structural loads differ sharply.
Key Takeaways
- On-campus and off-campus buildings housing physician practices, clinics and diagnostic services; the largest investable category.
- Acute care, specialty and rehabilitation hospitals, usually owned by health systems; capital-intensive and highly regulated.
- Ambulatory surgery centers, urgent care, imaging, dialysis, behavioral health and freestanding emergency departments.
Check Your Understanding
Before moving on, explain in your own words how the ideas in “Property Types in Healthcare” apply to a property or deal you know, and name one number or document you would need to check.
Action Step
List the healthcare properties within a few miles of you by type and note which appear to be health-system owned versus private.
This course is educational and does not provide legal, tax, financial, investment or appraisal advice, and does not issue any license, certification or credential. Real estate law, tax rules and licensing requirements vary by state and change over time; consult a licensed attorney, CPA, appraiser or your state regulator for your situation. Healthcare regulatory matters, including anti-kickback and physician self-referral rules, require review by qualified healthcare counsel.