Grubb & Ellis Healthcare REIT II announced Wednesday that it has agreed to acquire eight medical office buildings for an aggregate total of $112 million. Through two separate agreements, the acquisitions of the eight properties will total roughly 451,000 square feet across seven states.
The healthcare real estate investment trust (REIT) now has more than $278 million of clinical healthcare real estate properties under contract, including the previously announced acquisition of the $166.5 million Southeastern Skilled Nursing Facility Portfolio. The acquisitions are subject to closing conditions and other requirements.
“Grubb & Ellis Healthcare REIT II is aggressively acquiring quality, income-generating healthcare properties throughout the country and expects to own a portfolio of 73 buildings valued at nearly $710 million based on purchase price within the next several months,” said Danny Prosky, president and CEO. “We are most proud of the fact that each and every property we have acquired, and have under contract to acquire, is accretive and supportive of our investor distributions.”
The eight properties in the most recent acquisition were built between 1996 and 2008 and are located in Arizona, California, Florida, Georgia, South Carolina, Texas and Washington.
Written by Elizabeth Ecker