TAMPA, Fla.--(BUSINESS WIRE)--Carter Validus Mission Critical REIT II, Inc. (“CVMCR II”) acquired over $55 million in healthcare and data center real estate property in late June 2015. With these acquisitions, the CVMCR II portfolio now totals over $215 million in assets based on purchase price.
Details of the recent acquisitions are as follows:
Houston Surgical Hospital and LTACH (Long Term Acute Care Hospital)
- Date acquired: June 30, 2015
- Purchase price: $49,250,000
- Location: Houston, TX
- Square feet: 102,369
- Occupancy: 100%
- Major tenants: Victory Medical Center Houston, LP and CHG Cornerstone Hospital of South Houston, LP
This multi-tenant healthcare facility houses a 25-bed multi-specialty surgical hospital with six operating rooms focused on orthopedic and spine surgeries. It also houses a 35-bed long-term acute care hospital as well as a specialized robotics training facility.
Eagan Data Center
- Date acquired: June 29, 2015
- Purchase price: $5,800,000
- Location: Eagan, MN
- Square feet: 87,402
- Occupancy: 100%
- Tenant: DataBank Holdings, LTD.
This newly renovated1 single-story data center property houses a powered shell colocation datacenter that is certified by Uptime Institute as a Tier III facility with 10 megawatts of capacity. The property is 100% leased to DataBank Holdings, LTD., on a triple net basis for a remaining initial lease term of 14.25 years.
“These transactions represent additional progress in the evolution of CVMCR II's portfolio, adding our largest single healthcare asset to date and another high-quality data center property to the existing portfolio,” said Michael Seton, President of CVMCR II. John Carter, Chief Executive Officer of CVMCR II added, “We believe that our advisor’s ability to secure investments of this quality in the two high-growth industries of data centers and healthcare should allow us to continue to build a well-balanced portfolio that provides value for investors.”
1 – Renovations were completed in May 2015
About Carter Validus Mission Critical REIT II, Inc.:
Carter Validus Mission Critical REIT II, Inc. is a public, non-traded company that believes it qualifies as a real estate investment trust (“REIT”). The Company intends to acquire mission critical real estate assets located throughout the United States and abroad. Mission critical real estate assets are purpose-built facilities designed to support the most essential operations of tenants. Carter Validus Mission Critical REIT II, Inc. intends to focus its acquisitions on mission critical assets in the data center and healthcare sectors. See www.cvmissioncriticalreitii.com for more information.
Forward-Looking Statements
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