March 24, 2017
Carter Validus Mission Critical REIT II secured $30.5 million in acquisition financing to buy the 106,806-square-foot Women’s Health Center of West Michigan in Grand Rapids. The Florida-based buyer acquired the nine-year-old building at 555 MidTowne St. N.E. for $43.5 million from Pinnacle Construction Group. Capital One was the administrative agent for the loan.
“We are proud of the in-depth relationship we’ve built with the team from Carter Validus, and we have developed a good understanding of their investment priorities,” said Erik Tellefson with Capital One Healthcare. “We were able to provide a flexible financing solution that aligned closely with their strategic objectives for this property.”
The property is 93% occupied, and anchored by Metro Health’s OAM Surgery Center, and Grand Rapids Women’s Health.
For comments, questions or concerns, please contact Amy Sorter