American Realty Capital Healthcare Trust, Inc., recently announced that it has closed on three income-producing properties for $60.9 million, representing the first part of a $68.9 million portfolio consisting of 12 healthcare facilities.
The initial three properties are a multi-specialty medical campus located in Carson City, Nevada, for approximately $29 million; a medical office building in Las Vegas, Nevada, for approximately $22.9 million; and an inpatient rehabilitation facility located in Phoenix, Arizona, for approximately $9 million.
These acquisitions are approximately 92% leased to 19 tenants, with about 11.5% of those tenants having leases that will expire before Dec. 31, 2016, and 32% of tenants with lease terms beyond 10 years from the closing date.
“We are very pleased to be closing on the purchase of these institutional quality healthcare facilities acquired through our direct relationship with the seller,” said Todd Jensen, Chief Investment Officer for ARC Healthcare. “These properties are consistent with our strategy of building a diversified portfolio of healthcare assets leased to strong national and regional operators on a long-term basis. Over half of the revenue is generated from organizations that carry investment grade credit ratings.”
The properties were closed through ARC’s sponsor, American Realty Capital V, LLC.
Written by Alyssa Gerace