Carter Validus Mission Critical REIT Exceeds $600 Million In Investments
The company’s latest mission critical facility acquisitions contributed to the total.
Carter Validus Mission Critical REIT, Inc. has announced that it acquired $52,130,500 in mission critical real estate assets during the month of August, bringing the total investment amount in its portfolio to $601,714,340, consisting of 1.9 million rentable sq ft across fourteen states. The August acquisitions include:
- Victory Medical Center Landmark, which was acquired on August 29, 2013, for a purchase price of $32,166,500. Located in San Antonio, TX the property is a newly constructed state-of-the art surgical hospital completed in July 2013 and measures approximately 82,316 sq ft in net rentable area.
- Akron General Integrated Medical Facility, which was acquired on August 23, 2013, for a purchase price of $9,681,000. Located in Green, OH, the newly constructed property measures approximately 38,564 sq ft in net rentable area and is connected to the 98,705 Akron General Medical Center, which was acquired by CVMC REIT in December 2012.
- Valley Baptist Wellness Center, which was acquired on August 16, 2013, for a purchase price of $10,283,000. Located in Harlingen, TX, the property measures 38,111 sq ft in net rentable area and was constructed in 2007 as a build-to-suit location for the current tenant.
CVMC REIT's strategy continues to focus on acquiring high quality, long-term net leased data center and health care properties throughout the United States that are "mission critical" or essential to the successful operations of its tenants.
- * Total investments $601,714,340
- * Occupancy is 100%
- * Weighted average remaining lease term of the portfolio is approximately 12 years
- * Average annual rental rate increases of approximately 2.2%
"We are delighted with our ability to consistently execute on our focused strategy of acquiring mission critical real estate assets across the country," said John Carter, CEO of CVMC REIT.
*Information is presented as of August 31, 2013