September 14, 2020 09:53 AM Eastern Daylight Time
TAMPA, Fla.–(BUSINESS WIRE)–Carter Validus Mission Critical REIT II, Inc., or the Company, a public, non-traded real estate investment trust focused on assembling a diversified portfolio of net-leased data center and healthcare properties, today announced the acquisition of Tampa Healthcare Facility.
Tampa Healthcare Facility is a 33,822 rentable square foot medical office building constructed in 2015 and situated on 2.87 acres in Tampa, Florida; the second-fastest growing market in Florida and twelfth-fastest growing market in the US. The two-story facility is only a quarter mile from St. Joseph’s Hospital, St. Joseph’s Children’s Hospital and St. Joseph’s Women’s Hospital. The facility serves as a strategic location for both primary and urgent care, pediatric spinal care, clinical laboratory services and various types of outpatient surgery. The facility is 100% net-leased to six tenants.
“We are pleased to announce the acquisition of Tampa Healthcare Facility, which is representative of the type of healthcare property our Company is focused on acquiring – high quality, well located, and with a strong and diverse tenant roster. All of these attributes are indicative of our existing portfolio combination and we expect this property will serve as a strong complement to our growing asset base,” said Michael Seton, President and Chief Executive Officer.
On July 29, 2020, the Company announced that it had entered into a definitive agreement to internalize its management functions, or the Internalization Transaction, and will change its name to Sila Realty Trust, Inc. The Internalization Transaction is anticipated to close and the name change is expected to be effective on September 30, 2020, subject to the satisfaction of customary closing conditions. For more information regarding the Internalization Transaction, refer to the Company’s Current Report on Form 8-K filed with the SEC on July 29, 2020.
About Carter Validus Mission Critical REIT II, Inc.
Carter Validus Mission Critical REIT II, Inc. is a public, non-traded corporation headquartered in Tampa, Florida, that currently qualifies and is taxed as a real estate investment trust that engages in the acquisition of quality income-producing commercial real estate with a focus on data centers and healthcare facilities. As of June 30, 2020, the Company owned 152 real estate properties, aggregating approximately $3.2 billion, consisting of 29 data centers and 123 healthcare properties located in 69 markets across the United States.
Forward Looking Statements
Certain statements contained herein, other than historical fact, may be considered “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and are intended to be covered by the safe harbor provided by the same. No forward-looking statement is intended to, nor shall it, serve as a guarantee of future performance. You can identify the forward-looking statements by the use of words such as “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “outlook,” “plan,” “potential,” “predict,” “project,” “seek,” “should,” “will” and other similar terms and phrases, including references to assumptions and forecasts of future results. These forward-looking statements are based upon the Company’s present expectations, but these statements are not guaranteed to occur. Forward-looking statements are subject to various risks and uncertainties, and factors that could cause actual results to differ materially from the Company’s expectations, and investors should not rely on forward-looking statements since they involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond the Company’s control and which could materially affect the Company’s results of operations, financial condition, cash flows, performance or future achievements or events. One of the most significant factors is the adverse effect of COVID-19 on the financial condition, results of operations, cash flows and performance of the Company and its tenants, the real estate market and the global economy and financial markets. The extent to which COVID-19 impacts the Company and its tenants will depend on future developments, which are highly uncertain and cannot be predicted with confidence, including the scope, severity and duration of the pandemic, the actions taken to contain the pandemic or mitigate its impact, and the direct and indirect economic effects of the pandemic and containment measures, among others. Moreover, you should interpret many of the risks identified in our annual and quarterly reports filed with the SEC, including those described in Part I. 1A “Risk Factors – General Risks Related to Investments in Real Estate” of our Annual Report on Form 10-K for the year ended December 31, 2019, as being heightened as a result of the ongoing and numerous adverse impacts of the COVID-19 pandemic. In addition, the following uncertainties and other factors could cause actual results to differ from those set forth in the forward-looking statements: the risk that economic and regulatory changes may have an adverse impact on the real estate market in general, which may prevent the Company from being profitable or realizing growth in the value of the Company’s properties; the failure to receive, on a timely basis or otherwise, any required approvals of third parties; the risk that a condition to closing of the proposed Internalization Transaction may not be satisfied; the ability of the Company to transition to an internally operated company on an efficient basis without interruption or excess cost or expense; the ongoing costs to operate the Company on an internalized basis which, if higher than anticipated, could reduce the potential cost savings sought in the Internalization Transaction; the Company’s ability to consummate the proposed Internalization Transaction; and other risks that are set forth under “Risk Factors” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2019, and subsequent quarterly reports filed with the Securities and Exchange Commission. Furthermore, the Company disclaims any obligation to publicly update or revise any forward-looking statement to reflect changes in underlying assumptions or factors, of new information, data or methods, future events or other changes. Investors should not place undue reliance upon forward-looking statements.
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