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Carter Validus Mission Critical REIT II, Inc. Adds More Than $113 Million in Healthcare Acquisitions
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| Click on the image to view full Property Gallery |
(Tampa, FL) –
Carter Validus Mission Critical REIT II, Inc. (“CVMCR II”) acquired multiple healthcare real estate properties, for an aggregate purchase price of over $113 million in late July 2015. With these new acquisitions, the CVMC REIT II portfolio now totals over $325 million in assets based on purchase price. Details of the recent acquisitions are as follows:
Kentucky Maine Ohio IMF Portfolio (Integrated Medical Facilities)
- Date acquired: July 22, 2015
- Purchase price: $79,085,419
- Location: Five properties located throughout Kentucky, Maine and Ohio
- Square feet: 293,628
- Occupancy: 100%
- Tenants: UC Health, MaineGeneral Health, The Christ Hospital (“TCH”)
This portfolio includes five integrated medical facilities strategically located in their markets with convenient access for physicians and patients. The facilities are 100% leased and offer dermatology, obstetrics/gynecology, musculoskeletal, mammography, bone density, administrative and primary care services. UC Health occupies two properties and is affiliated with the University of Cincinnati as one of the largest and most distinguished group of physicians. MaineGeneral Health is a non-profit health system operating as a market leader in its service area. TCH is a non-profit network of over 100 locations operating in Ohio, Indiana and Kentucky.
Reading Surgical Hospital (Surgical Center)
- Date acquired: July 24, 2015
- Purchase price: $24,990,000
- Location: Wyomissing, PA
- Square feet: 33,217
- Occupancy: 100%
- Major tenant: Surgical Institute of Reading, LP
This single-story surgical hospital consists of four operating rooms, one special procedure room and 15 inpatient rooms. Each year approximately 5,000 surgeries are performed including orthopedics, otolaryngology, plastic surgery, gastroenterology and pain management.
Post Acute Warm Springs Specialty Hospital of Luling (Long-Term Acute Care Hospital)
- Date acquired: July 30, 2015
- Purchase price: $9,675,000
- Location: Luling, TX
- Square feet: 40,901
- Occupancy: 100%
- Major tenant: Post Acute Medical at Luling, LLC, a wholly owned subsidiary of Post Acute Medical, LLC.
This 34-bed long-term acute care hospital provides care and rehabilitation inpatient and outpatient services as well as a wellness program for recovering patients. Core specialty programs include pulmonary-ventilator weaning, tracheotomy care, rehabilitation and wound care.
“Our ability to continue to grow a strong healthcare portfolio within CVMC REIT II and build upon existing relationships is key to our success. We are pleased to align ourselves with such well-regarded medical organizations. ” said Michael Seton, President of CVMC REIT II.
John Carter, Chief Executive Officer of CVMC REIT II added, “This sizeable addition of numerous high-quality healthcare properties is directly in line with our acquisition strategy. This further evidences our advisor’s continuing commitment to provide value to our company and to the investors of our growing portfolio.”
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Contact us for more information
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Christof Hammerli
Chief Acquisition Officer
813-316-4248
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Alex StacyChief Acquisition
Officer of Healthcare
336-259-1600
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Nathan Golik
Vice President of
Healthcare Acquisitions
214-929-1355
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About Carter Validus Mission Critical REIT II
Carter Validus Mission Critical REIT II, Inc. is a public, non-traded company that believes it qualifies as a real estate investment trust (“REIT”). The Company intends to acquire mission critical real estate assets located throughout the United States and abroad. Mission critical real estate assets are purpose-built facilities designed to support the most essential operations of tenants. Carter Validus Mission Critical REIT II, Inc. intends to focus its acquisitions on mission critical assets in the data center and healthcare sectors. Seewww.cvmissioncriticalreitii.com for more information.
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This is not an offer or a solicitation of an offer to buy the securities described herein. Such an offer can be made only by means of a prospectus. Click here to obtain a prospectus. Investment performance is not guaranteed. This is a speculative security and as such, involves a high degree of risk. Securities offered through SC Distributors, LLC member FINRA and SIPC.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of federal securities laws and regulations. These forward-looking statements are identified by their use of terms and phrases such as “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “predict,” “project,” “should,” “will” and other similar terms and phrases, including references to assumptions and forecasts of future results. Forward-looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties and other factors that may cause the actual results to differ materially from those anticipated at the time the forward-looking statements are made. Although the company believes the expectations reflected in such forward-looking statements are based upon reasonable assumptions, it can give no assurance that the expectations will be attained or that any deviation will not be material. The company undertakes no obligation to update any forward-looking statement contained herein to conform the statement to actual results or changes in the company’s expectations.
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