Carter Validus Mission Critical REIT II Inc., a publicly registered non-traded real estate investment trust, has purchased the Clive Healthcare Facility and the Valdosta Healthcare Facilities Portfolio for a combined $33.7 million, excluding acquisition fees and costs.
The Clive Healthcare Facility, purchased for approximately $23.5 million, is a two-story, 58,000-square-foot integrated medical facility located in the Des Moines suburb of Clive, Iowa. Constructed in 2008, the property includes a basement parking garage with 44 parking spaces and access to an additional 150 parking spaces through a parking agreement.
The Clive Healthcare Facility is located across the street from both the 95-bed Methodist West Hospital and the 82-bed Mercy Medical Center West Des Moines. The facility is 100 percent leased and anchored by an ambulatory surgery center and physician practices.
The REIT also purchased the Valdosta Healthcare Facilities Portfolio for approximately $10.2 million. The portfolio is comprised of two medical office buildings located in Valdosta, Georgia. Constructed in 1992 and 2004, the buildings total 37,500 square feet and include 221 surface parking spaces.
The portfolio 100 percent leased by Valdosta Family Medicine Associates PC, the largest primary care practice in the region. Additional patient services provided are rheumatology, endocrinology, pediatrics, and urgent care.
Carter Validus Mission Critical REIT II invests in net leased data center and healthcare assets and launched its initial primary offering in May 2014. The company has raised approximately 1.4 billion in investor equity in its initial and follow-on offerings as of the third quarter of 2018, according to Summit Investment Research.
The REIT’s $1.8 billion portfolio was comprised of 82 properties (29 data center and 53 healthcare properties) as of October 26, 2018.