SAN DIEGO, CA – July 7, 2015 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has closed the sale of 121 Sotoyome, a 34,047-square-foot, medical office building in Santa Rosa, California.
HFF sold the property on behalf of the seller, Sotoyome Medical Building, LLC. American Realty Capital Healthcare Trust II, Inc. purchased the asset for an undisclosed amount. The property was carved out as part of a larger healthcare portfolio located throughout Sonoma and Mendocino Counties.
121 Sotoyome is directly adjacent to Santa Rosa Memorial Hospital, a 278-bed, acute care facility and Level II Trauma Center in Santa Rosa, about 55 miles north of San Francisco. Santa Rosa Memorial Hospital is a member of the prestigious St. Joseph Health System. The property is fully leased to St. Joseph Heritage Healthcare and functions as an outpatient multi-specialty and radiology service center with built out rooms for MRI, PET, CT and Linear Accelerators. Originally built in 1955, the property has been consistently updated throughout the years with more than $5 million in improvements made since 2005.
The HFF investment sales team was led by managing director Evan Kovac who is a part of HFF’s national healthcare practice.
“The market for well-positioned medical office buildings is outstanding. St. Joseph’s Outpatient Center is a highly specialized facility, providing critical radiology and imaging services to the Santa Rosa community. The aging trends of baby boomers coupled with recession resistant performance of medical office properties creates stability well into the future,” said Kovac.
About American Realty Capital Healthcare Trust II, Inc.
American Realty Capital Healthcare Trust II, Inc. is a publicly-registered, non-traded real estate investment trust, which seeks to acquire a diversified portfolio of real estate properties, focusing primarily on healthcare-related assets including medical office buildings, seniors housing and other healthcare-related facilities.
About HFF
HFF and HFFS (HFF Securities L.P.) are owned by HFF, Inc. (NYSE: HF). HFF operates out of 22 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry. HFF together with its affiliate HFFS offer clients a fully integrated national capital markets platform including debt placement, investment sales, equity placement, advisory services, loan sales and commercial loan servicing. For more information please visit hfflp.com or follow HFF on Twitter @HFF.
Holliday Fenoglio Fowler, L.P. acting by and through Holliday GP Corp, a California licensed real estate broker. California license Number 01385740.
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