SANTA ANA, CA-Grubb & Ellis Healthcare REIT II has agreed to buy eight buildings across the country for $112 million. The new assets under contract are part of an aggressive buying spree by the non-traded REIT.
If those sales reach completion, the REIT will own 73 buildings worth $710 million based on purchase price.
Located in Arizona, California, Florida, Georgia, South Carolina, Texas and Washington, the eight medical office buildings contain a total 451,000 square feet. Previously, the healthcare REIT said it had agreed to pay $166.5-million for the Southeastern Skilled Nursing Facility Portfolio, boosting the value of buildings under contract to $278 million.
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