August 9, 2016
Carter Validus Mission Critical REIT II (CVMC REIT II) has closed on the HPI portfolio, a nine-property medical real estate collection consisting of two acute-care hospitals and seven integrated medical facilities. The Tampa, FL-based REIT paid $116.5 million for the assets, which are located in and around the Oklahoma City area.
The portfolio totals 328,000 square feet and is 100% occupied by HPI, a local physician and health-care group. The average remaining lease term on the portfolio is 13.3 years.
“This portfolio is an ideal acquisition for CVMC REIT II, and should complement the overall value of our existing investment portfolio of healthcare and data center real estate,” said Michael A. Seton, president of CVMC REIT II.
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