Healthcare Realty Trusts Acquires Three MOBs for $140M
In three separate transactions, the company has purchased three medical office buildings, bringing its year-to-date acquisitions to $269.5 million.
NASHVILLE, TN – Healthcare Realty Trust Inc. has acquired three medical office buildings in three separate transactions, totaling $140.8 million. Each of the acquisitions closed in May 2021.
The recent transactions bring the firm’s year-to-date acquisitions to $269.5 million.
The first of the recently acquired properties is a 160,000-square-foot, on-campus building in San Diego, which sold for $102.7 million and is currently 100% leased to Palomar Health. The company also acquired a 73,000-square-foot building located on Memorial Health System’s Saddleback Medical Center campus in Los Angeles, which sold for $24.6 million. The Los Angeles property was purchased under the TIAA joint-venture, with Healthcare Realty Trust funding 50% of the purchase price. The final acquired property consists of a 45,000-square-foot building in Houston, TX, located adjacent to Houston Methodist’s Willowbrook Hospital, which was acquired for $13.5 million.
Each of the three properties are located within Healthcare Realty Trust’s existing markets. The company now owns four properties in the San Diego market, 19 properties in the Los Angeles market and 11 properties in the Houston market.
Healthcare Realty Trust is also currently under contract to purchase additional properties for more than $200 million, subject to execution of definitive documentation and satisfaction of customary closing conditions.