Home Alts News ARC Healthcare Trust II Buys MOB in Santa Rosa, CA

ARC Healthcare Trust II Buys MOB in Santa Rosa, CA

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American Realty Capital Healthcare Trust II Inc., a publicly registered non-traded real estate investment trust sponsored by AR Capital, purchased 121 Sotoyome in Santa Rosa, CA from Sotoyome Medical Building LLC for an undisclosed amount.

The property is a 34,047-square-foot, medical office building located directly adjacent to Santa Rosa Memorial Hospital, a 278-bed, acute care facility and Level II Trauma Center about 55 miles north of San Francisco. Santa Rosa Memorial Hospital is a member of the 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.

On March 18, 2015, American Realty Capital Healthcare Trust II announced its intention to list its common stock on a national stock exchange under the symbol “HTI” and change its name to Healthcare Trust Inc. The company anticipates that its common stock will begin trading on such exchange during the third quarter of 2015.

American Realty Capital Healthcare Trust II 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. As of March 31, 2015, the company owned 128 properties consisting of 6.6 million rentable square feet.

The company commenced its public offering on February 14, 2013, closed its offering in November, 2014, and as of March 31, 2015 had 84.5 million shares of common stock outstanding and had received total gross offering proceeds from the IPO and DRIP of $2.1 billion.