Thursday, June 11th, 2020
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Photo: Feverpitched/Getty Image
Our family had long planned to move in the summer of 2020, never dreaming that COVID-19 would bring everything in the country to a screeching halt. And yet even amid stay-at-home orders, we still wanted to move. Our son was graduating from high school and preparing for university in the fall, and, after living in Los Angeles for 20 years, we were ready for a change of scenery.
We were able to kick off our official search for a new place earlier than expected, in April. With our kids participating in virtual classes, we knew they didn’t physically need to be near their school.
The medical office sector hasn’t been immune from issues caused by COVID-19. But Kyle O’Connor, president and founder of MLL Capital, would still rather be in that commercial real estate asset class than any other part right now.
“The medical health care sector and the science sector seems to be holding up a bit better than some other property types,” O’Connor says. “Certainly, hotels or retail are having a different experience. For us, it’s one of the reasons why we liked the sector and continue to like it a lot. We viewed the asset class as having a number of supportive features associated with it.”
Still, there are issues in the medical sector. “A lot of people are very concerned that the risk of catching something in the doctor’s office might be greater than whatever the issue in the house,” O’Connor says. “Over time, I think the expectation is that