The seller is a subsidiary of publicly held Health Care Property Investors of Long Beach, CA. The new owner is Triple Net properties, a Santa Ana, CA-based tenant-in-common syndicate. The sale closed Tuesday.
The property was constructed in 1998. The office building is a central component of the Sierra Health Services' corporate headquarters campus and is connected to another building that houses Sierra's executive operations, which Sierra still owns.
Included in the sale is a five-story parking structure adjacent to the building and a vacant, noncontiguous 1.6-acre frontage pad, according to a press release from Triple Net. The release did not include the sale price or the seller, which it described only as "a subsidiary of a publicly traded healthcare REIT."
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