(Tampa, FL) Carter Validus Mission Critical REIT, Inc. (“CVMC REIT”) announced that it acquired $593.2M in mission critical real estate assets in 2013, including $174.5M in the month of December, bringing the total investment amount in its portfolio to $988.1M, consisting of 3.1M rentable square feet across 17 states. The December acquisitions include:
AT&T California Data Center, which was acquired on December 17, 2013, for a purchase price of $134.5M plus closing costs. Located in San Diego, CA, the property is a single-tenant; 499,402 square foot building that was originally built in 1983. Since 2009, AT&T has invested $13 million to improve and expand the building’s data center infrastructure.
Lubbock Heart and Surgical Hospital, which was acquired on December 20, 2013, for a purchase price of $40M plus closing costs. Located in Lubbock, TX the property is a 74-bed specialty hospital that measures approximately 102,000 square feet. The facility historically specialized in cardiovascular procedures, but has expanded its operations to include orthopedics, pain management, plastic surgery and urology.
CVMC REIT’s investment strategy continues to focus on acquiring high quality, long-term net leased data center and healthcare properties throughout the United States that are “mission critical” or essential to the successful operations of its tenants.
2013 Portfolio Highlights
Total investments increased to $988.1M
Data Centers: $588.9M
Healthcare: $399.1M
$309.4M of acquisitions completed in Q4 2013
“We’re delighted with the significant progress we made in 2013” said John Carter, CEO of CVMC REIT “As we approach $1 billion in portfolio assets, we believe we are well positioned to continue to deliver value to our shareholders and serve as creative capital partners to the industries we serve.”
About Carter Validus Mission Critical REIT
Carter Validus Mission Critical REIT, Inc., which elected to be taxed as a real estate investment trust for federal income tax purposes, intends to acquire mission critical real estate assets located throughout the United States. Mission critical real estate assets are purpose-built facilities designed to support the most essential operations of tenants. Carter Validus Mission Critical REIT, Inc. focuses its acquisitions of mission critical assets in the data center and healthcare sectors.
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