Why That “Off-Market” Deal Might Not Be What You Think

It’s always tempting when someone whispers “off-market.”

The promise is exclusivity. Less competition. Maybe even better pricing. But in medical real estate—especially in behavioral health and senior living—off-market often just means it hasn’t hit CoStar yet. Not that it’s a hidden gem.

We’ve seen this play out. A broker shares a deal privately, says it’s fresh. But when you dig a little deeper, turns out three groups already passed. Or the tenant’s financials raise red flags. Or there’s a pending CON issue that hasn’t been disclosed yet.

None of that shows up on the flyer. And if you’re underwriting on the headline alone, you’re not getting the full picture.

That’s where market intelligence comes in. Not to kill deals—but to make sure you’re not flying blind. When you’re spending millions, guessing shouldn’t be part of the equation.

📞 Want to run a quiet deal past someone who’s seen what can go wrong?

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