TAMPA, Fla.--(BUSINESS WIRE)--Carter Validus Mission Critical REIT, Inc. (“CVMC REIT”) announced today that it recently acquired its 17th real estate asset, bringing the total amount of the portfolio to $417,634,000, consisting of 1.2 million rentable square feet across nine states.
CVMC REIT’s strategy continues to focus on high quality, net leased Data Center and Healthcare properties throughout the United States that are “mission critical” or essential to the successful operations of its tenants. Below is a recap of significant milestones achieved in 2012.
- Total investments increased to $417.6 million.
- $143.8 million of acquisitions completed in Q4 2012.
- Weighted average cap rate of the assets in the portfolio is 8.9%.
- Total occupancy is 100%.
- Weighted average remaining lease term of the portfolio is 12.5 years with average annual rental rate increases of 2.4%.
- Portfolio leverage ratio is 50%.
*Information is presented as of December 31, 2012.
“We are delighted with our ability to consistently execute on our focused strategy throughout 2012. With a robust pipeline of mission critical real estate acquisitions, we look forward to a very exciting 2013,” says John Carter, CEO of CVMC REIT.
Carter Validus Mission Critical REIT, Inc. is a company that elected to be taxed as a real estate investment trust for federal income tax purposes that invests in mission critical real estate assets located throughout the United States. Mission critical real estate assets are those properties that are essential to the successful operations of the companies within the industries in which such companies operate. Carter Validus Mission Critical REIT, Inc. focuses its acquisitions of mission critical assets in the data center and healthcare sectors.
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