Conventional wisdom has held that the healthcare real estate industry is generally recession resistant. While that has historically been the case, the conventional wisdom did not account for a recession caused solely by a public health crisis due to a global pandemic. While the long-term effects of the COVID-19 pandemic on the healthcare real estate market remain to be seen, the short-term effects of the pandemic are already being felt throughout the industry. While some of the legal and economic issues facing healthcare real estate owners and tenants mirror the issues facing owners and tenants of other classes of commercial real estate, other issues are wholly unique to the healthcare industry. This article addresses the issues that owners and tenants alike are addressing in real time as the implications of this unprecedented event continue to unfold.