Non-traded REIT continues to rack up healthcare real estate purchases in Q3
By John B. Mugford
These are busy times for the healthcare real estate (HRE) investment arms of Atlanta-based Carter, the long-time commercial real estate investor, developer and advisory firm.
So busy, in fact, that the firm recently launched its second unlisted real estate investment trust (REIT) to acquire medical facilities and data centers. Its acquisition targets, the company says, are property types that it considers “mission critical.” Hence the name of Carter’s two REITs: Carter Validus Mission Critical REIT (CVMC REIT), started in 2010 and now closed to new stock investments; and Carter Validus Mission Critical REIT II, starter earlier this year and currently raising capital through the sale of common stock. The second REIT made its first purchase in mid-summer, acquiring the 13,645 square foot Cy-Fair Surgery Center in Houston for $4.5 million.
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