Home News Carter Validus Mission Critical REIT II Buys Washington Medical Office Building

Carter Validus Mission Critical REIT II Buys Washington Medical Office Building

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Carter Validus Mission Critical REIT II Inc., a publicly registered non-traded real estate investment trust, has purchased the Silverdale Healthcare Facility II in Silverdale, Washington for nearly $7 million.

Built in 2007, the Silverdale Healthcare Facility II is a one-story, 19,200-square-foot medical office building with 97 parking spaces, comprised of 57 surface spaces and 40 spaces in the underbuilding garage. The property is triple-net leased to the Franciscan Medical Group with a remaining lease term of 8.8 years.

Franciscan Medical Group, the property’s sole tenant, is one of largest physician-led medical groups in the Puget Sound, Washington area and offers diagnosis and treatment for degenerative diseases and orthopedic conditions at the property.

“This MOB is a great addition to our portfolio and an investment that aligns very well with our fully net-leased healthcare acquisition strategy. We believe the asset is in great condition and is occupied by a high-quality, creditworthy tenant that benefits from referrals from its large network of affiliated practices and hospitals,” said chief executive officer John Carter.

In other CV Mission Critical REIT II news, the company recently increased its estimated per share net asset value to $9.18 for Class A, Class I, and Class T shares of common stock, as of June 30, 2017.

Carter Validus Mission Critical REIT II, which invests in net leased data center and healthcare assets, went effective in May 2014 and has raised more than $1 billion in investor equity since inception. The REIT’s portfolio is comprised of 63 properties (20 data center and 43 healthcare properties) that were purchased for approximately $1.4 billion. The company’s offering is scheduled to close on November 24, 2017.

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