The acquisition includes the recently disclosed $9.2-million acquisition of a 46,440-sf medical office building located on the campus of Methodist Hospital of Sacramento, CA. The other four properties are as follows:
--Cooper Voorhees Medical Mall, Voorhees, NJ: a multi-tenant medical and retail office building with 116,451 lettable sf. The building is currently 92% leased.
--Coral Springs Surgical Center, Coral Springs, FL: a four-story property multi-tenant ambulatory surgery center/medical office building with 43,728 lettable sf. The property is currently 92% leased.
--Elm Street Professional Plaza, Reno, NV: a multi-tenant medical office building, situated on the campus of Saint Mary's Regional Medical Center, with 66,606 lettable sf. The property is currently 100% leased.
--Trinity West Medical Plaza, Lewisville, TX: a multi-tenant medical office building with 40,686 lettable sf. The property is currently 100% occupied.
Windrose also plans to offer four million shares of its common stock, not including 600,000 shares to cover underwriter over-allotments. Citigroup Global Markets Inc. is acting as the book-runner on the transaction and is expected to expand the underwriting group to include Ferris, Baker Watts Inc. and Stifel, Nicolaus & Co. Inc. at a later date.
Windrose shares closed last week at $13 even, about $4 above its 52-week low and within $0.30 of its 52-week high.
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