Home Alts News CV Mission Critical REIT II Purchases Three Medical Facilities for $76.8 Million

CV Mission Critical REIT II Purchases Three Medical Facilities for $76.8 Million

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Public, non-traded REIT Carter Validus Mission Critical REIT II, Inc. (the REIT), recently announced an acquisition of three medical facilities for an aggregate purchase price of $76.8 million.

In the Dallas-Fort Worth metropolitan statistical area (MSA), the fourth largest MSA in the country, the REIT acquired the Baylor Forth Worth Medical Center which contains both the Baylor Surgical Hospital at Forth Worth and the Baylor Surgical Hospital Integrated Medical Facility.

Both buildings were constructed in 2014 and combined offer 91,732 square feet in net rentable space, which is 100% leased to Forth Worth Surgicare Partners, Ltd.

The hospital boasts 30 inpatient beds, 14 operating rooms, and a 24-hour emergency room among other features.

“The Baylor Fort Worth Medical Center has been designed and constructed with the fundamental objective of treating patients with the leading technologies in medicine,” said Michael Seton, President and Chief Investment Officer, of Carter Validus Advisors II, LLC, the REIT’s advisor.

The REIT also purchased The New England Sinai Medical Center, which is a 27.9 acre medical center campus that hosts the New England Sinai Hospital, a 142-bed, long-term acute care hospital, plus a neighboring integrated medical facility. It is 100% leased to the New England Sinai Hospital, a Steward Family Hospital, Inc.

Seton added, “Since its inception, the New England Sinai Hospital has delivered high-quality healthcare services to the greater Boston area. We are pleased to align ourselves with such well-regarded medical organizations and to be able to add these facilities to our portfolio of mission critical assets.”