Medical Office Transactions: Griffin-American Healthcare REIT IV, Caddis
Griffin-American Healthcare REIT IV Buys Two MOBs for $16.8 Million
Griffin-American Healthcare REIT IV Inc. recently purchased a two-building medical office campus in Athens, Georgia, for $16.8 million, Commercial Property Executive reported.
The buildings total 61,203 square feet and are 98.5% leased to three tenants.
Bull Realty brokered the deal, which was sponsored by Griffin Capital Co. and American Healthcare Investors.
Paul Zeman, Bull Realty’s president of healthcare real estate services, represented the sellers, who are affiliates of Bell-Harrison Development Inc. The buyer financed the purchase with cash on hand and borrowings under its revolving line of credit with KeyBank and Bank of America.
Caddis Purchases Two Medical Office Buildings in Texas
Dallas-based health care real estate company Caddis recently purchased two medical office properties in Plano and El Paso, Texas, REBusiness Online reported.
Specifically, Caddis acquired the George Dieter Medical Plaza, a 15,005-square-foot building in El Paso. Capital One provided the acquisition financing for the deal.
Caddis also purchased a 21,246-square-foot building in Plano that’s currently leased to the Plano Orthopedic Sports Medicine & Spine Center.
Medical Properties Trust Purchases MOB in Nevada for $66.2 Million
Medical Properties Trust (NYSE: MPW) recently purchased the Class A, 190,750 square-foot Saint Mary’s Center for Health & Fitness in Reno, Nevada, for $66.2 million, the Reno Gazette-Journal reported.
Duke Realty Sells MOB in Florida to Healthcare Trust of America Affiliate
Indianapolis-based Duke Realty (NYSE: DRE) sold a 110,714-square-foot medical office building in Sunrise, Florida, to HTA-VA Sunrise MOB, an affiliate of Scottsdale, Arizona-based Healthcare Trust of America (NYSE: HTA). The purchase price was $49.73 million, according to the South Florida Business Journal.
Written by Mary Kate Nelson