The non-traded REIT focused on senior housing and healthcare related facilities purchased a Class A health campus for $76 million. The Houston Orthopedic & Spine Hospital (Hosh) campus is the largest individual property investment for CNL Healthcare Properties (the REIT) to date.
The campus, completed in 2007, includes a state-of-the-art specialty hospital, a medical office building, and two parking structures.
“The HOSH campus is an exceptional addition to our expanding healthcare portfolio, allowing us to further enhance and diversify our holdings,” said Stephen H. Mauldin, president & CEO of CNL Healthcare Properties.
Strategically located in one of Houston’s affluent submarkets, the hospital contains 64 private beds, 10 operating suites, and multiple imaging services.
“Strategically positioned in the nation’s fifth largest metropolitan area, HOSH’s management and providers have earned an outstanding reputation for delivering the highest quality services and patient care.”
According to the REIT’s filing, Consumer Reports ranked Hosh as one of Houston’s top surgical hospitals in August of 2013.
Through March 31, 2014, the REIT has raised about $659 million in offering proceeds, including capital from its reinvestment plan.
As of May 5, 2014, CNL Healthcare Properties’ portfolio consists of 76 properties in 26 different states for total investments of about $1.26 billion.