Carter Validus Mission Critical REIT II (CVMCR II), a non-traded REIT that specializes in purpose-built facilities that support the needs of the tenants, announced that it has acquired a healthcare property in Cincinnati, Ohio. The property, Mercy Healthcare Facility, is CVMCR II’s second acquisition.
The 14,868 square-foot integrated medical facility was built in 2001 and includes 22 examination rooms and two phlebotomy areas. It is 100% leased to Mercy Health Physicians Cincinnati, LLC, which is a wholly owned subsidiary of Mercy Health.
Mercy Health operates more than 100 healthcare facilities, consisting of 24 hospitals, 26 diagnostic imaging centers, 16 ambulatory surgical centers and eight long-term care facilities. Four of Mercy Health’s hospitals have received the Distinguished Hospital Award for Patient Safety and three Mercy Hospitals have been named among the country’s 100 Top Hospitals.
“Since its inception, Mercy Health has delivered high-quality healthcare to the Greater Cincinnati area,” commented Michael Seton, President and Chief Investment Officer, Carter Validus Advisors II, LLC. He continued, “This experience, combined with nationally-recognized patient safety and quality, brings an outstanding level of care to the community. We are pleased to be working with high-quality tenants like Mercy Health and to be able to add this facility to our portfolio of mission critical assets.”
CVMCR II was formed to invest primarily in medical facilities and data centers. The REIT made its first acquisition in July 2014.