Carter Validus Mission Critical REIT II Inc., a publicly registered non-traded real estate investment trust, has purchased a Class A medical office building located in the Dallas suburb of Carrollton, Texas for approximately $8.5 million, which excludes acquisition fees and costs.
Built in 2015, the Carrollton Healthcare Facility is a 22,000-square-foot property located approximately 15 miles north of Dallas in the fourth largest metropolitan statistical area in the U.S. The building is situated on 1.5 acres and contains 96 surface lot parking spaces.
“We are pleased with the acquisition of this medical office building as we believe it represents the high-quality type of healthcare facilities in which CV Mission Critical REIT II continues to invest and should provide strong and predictable income streams,” said Michael Seton, chief executive officer and president of CV Mission Critical REIT II.
Carrollton Healthcare Facility is 100 percent leased by two tenants, USMD PPM LLC and PDP of Texas PLLC. USMD PPM is the primary tenant and provides family medicine, internal medicine, endocrinology, pediatric and rheumatology services. PDP of Texas provides dermatology services including diagnosis of and treatment for skin conditions and skin cancer as well as cosmetic procedures.
Carter Validus Mission Critical REIT II invests in net leased data center and healthcare assets and raised approximately $1.3 billion in investor equity since launching in May 2014. The REIT’s $1.6 billion portfolio was comprised of 73 properties (27 data center and 46 healthcare properties) as of May 24, 2018.