MISSION HILLS, CA—Healthcare properties can get pretty pricey in Southern California, causing some medical real estate investors to think twice about doing deals in the Golden State.

But it looks as if the country’s largest owner of healthcare real estate (HRE), Toledo, OH-based Health Care REIT (NYSE: HCN) recently found a deal there that equates to well above $500 per square foot (PSF). According to Real Capital Analytics, the average price paid per square foot for medical office buildings (MOBs) nationwide in third quarter was about $250.

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