HR ACQUIRES BAYLOR FACILITY IN FRISCO, TWO MOBs
By John Mugford
Nashville, Tenn.-based Healthcare Realty Trust (NYSE: HR) closed out 2010 with a big acquisition in Texas. The large healthcare real estate investment trust (REIT) acquired the campus of Baylor Medical Center at Frisco, which is comprised of a 68-bed acute care hospital and two medical office buildings (MOBs), for $133.5 million.
According to a Form 8-K filed with the U.S. Securities and Exchange Commission (SEC), Healthcare Realty Trust paid cash for the three buildings and two parcels of developable land on the 23-acre campus. The existing buildings have a total of 311,710 square feet of space, equaling a price per square foot (PSF) of $428.
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