HEALTHCARE REIT PLANS TO BUY A VARIETY OF MEDICAL PROPERTY TYPES
By John Mugford
As part of its growth strategy, Santa Ana, Calif.-based Grubb & Ellis Healthcare REIT II Inc. plans to acquire a variety of medical properties, not just medical office buildings (MOBs).
The non-traded real estate investment trust (REIT), which had its start in late 2009, made good on the strategy in recent weeks, acquiring a long-term acute care hospital (LTAC) in Muskogee, Okla., about 40 miles from Tulsa.
The REIT acquired the 41-bed, 37,000 square foot Muskogee Long-Term Acute Care Hospital for $11 million.
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