MINNETONKA, MN-In the world of medical office building sales, professionals involved in the sector report a general shortfall of high-quality facilities to meet investor demand. In even shorter supply are large portfolios of high-quality healthcare real estate that piques the interest of most of the sector's largest investors, including real estate investment trusts, institutions and others.

Even so, MOB transactions in Q2 were highlighted by the sale of a portfolio -- the final 11 properties to change hands as part of an overall 17-property portfolio deal. The deal was the top healthcare real estate transaction of the quarter, a quarter that saw MOB sales fall by 28% from Q1. The quarter was actually lacking in blockbuster deals, though the top two – listed below -- were impressive.

Each quarter, Healthcare Real Estate Insights reports on total medical office building sales volume, the number of transactions taking place, and other information, such as the national average cap rate and the price per square foot. Most of the information comes by way of Real Capital Analytics (RCA), a real estate research firm.

HREI also publishes a list of the top MOB transactions each quarter using information from RCA and other sources.

Here are some of the top MOB deals from Q2:

• Central Indiana MOB Portfolio, $80.7 million. During Q2, Newport Beach, Calif.-based Griffin-American Healthcare REIT II closed on the final 11 buildings that were part of an overall 17-building, $123 million deal. The buildings, as noted, are generally located in Indiana and the seller was Cornerstone Co., which developed many of the buildings and sold the portfolio in conjunction with other firms.

• WestHealth Medical Campus, Plymouth, MN, $57.1 million. Chicago-based Harrison Street Real Estate Capital acquired the three-building, 200,000-square foot outpatient campus from Minnesota-based AllinaWest Health. Cushman & Wakefield brokered the building, which traded at $286 per square foot.

• 2825 Santa Monica Blvd., Santa Monica, CA, $27.5 million. A partnership of Lincoln Property Co., Artemis Real Estate Partners and Centennial Real Estate Co. acquired the 48,915-square foot MOB for about $562 per square foot. The seller was a partnership of NHP and Fidelity Investments. Madison Partners brokered the sale for the seller. UCLA Medical Center is a major tenant in the building.

• Crystal Lakes Medical Arts, Crystal Lake, IL, $19 million. New York-based American Realty Capital Healthcare Trust Inc., an unlisted REIT, acquired the building in the Chicago suburbs for about $304 per square foot. EnTrust Realty Advisors brokered the sale. The anchor tenant is Centegra Health System.

• Spectrum Health West Pavilion, Grandville, MI, $16.4 million. ARC Healthcare Trust picked up this 53,000-square foot property as well, paying about $309 per foot. Newmark Knight Grubb Frank brokered the sale for the seller, a private limited liability company (LLC).

John B. Mugford is the Editor of Healthcare Real Estate Insights™, the nation's first and only publication totally dedicated to covering news and trends in healthcare real estate development, financing and investment. For more information, please visit www.HREInsights.com.