PUBLICLY TRADED REIT ACQUIRES INTEREST IN FIVE SOUTHERN CALIFORNIA MOBs
By John Mugford
Nationwide Health Properties Inc. has agreed to pay $67.3 million for a 65 percent ownership share in Mission Medical Plaza in Mission Viejo, Calif., one of five buildings in which NHP recently acquired an interest.
Photo courtesy of Pacific Medical Buildings
Back in 2008, publicly traded real estate investment trust (REIT) Nationwide Health Properties Inc. (NYSE: NHP) and San Diego-based Pacific Medical Buildings struck a deal so large that it garnered national headlines.
After all, the multi-year deal called for NHP to acquire up to 18 medical office buildings (MOBs) for a total value of nearly $1 billion.
The two entities traded 10 MOBs in 2008, with the buyer being NHP/PMB LP, a limited partnership of which a subsidiary of NHP acts as the general partner.
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