Carter Validus Mission Critical REIT, Inc. has announced several important portfolio metrics for the third quarter of 2012.
CVMC REIT focuses on acquiring mission critical data center and health care properties, strategically located throughout the United States and leased to creditworthy tenants under long-term, net leases. The company defines “mission critical” assets as those properties that are essential to the successful operations of the tenants. John Carter, the chief executive officer of CVMC REIT stated, “We are pleased with our progress as we continue to execute on our strategy of constructing what we believe is an extremely attractive portfolio of mission critical assets for our shareholders.”
Q3 2012 Highlights*
Total investments increased from seven assets with an aggregate purchase price of approximately $163,000,000 as of June 30, 2012 to 13 assets with an aggregate purchase price of approximately $273,867,000 as of September 30, 2012
• Portfolio leverage ratio of 49.2 percent
• The weighted average yield of the assets in the portfolio is 9.1 percent
• Total occupancy is 100 percent
• The weighted average remaining lease term of the portfolio is 12.4 years
• Based on in-place leases, rents increase on a weighted average of 2.6 percent annually
• As of July 19, 2012, CVMC REIT’s line of credit increased from $40,000,000 to $55,000,000
*Information is presented as of September 30, 2012.
Carter goes on to say, “I believe our ability to acquire these properties and grow this portfolio is a testament to our investment strategy, as well as our position as a leading investor in data center and health care assets.”