TAMPA, Fla.--(BUSINESS WIRE)--Carter Validus Mission Critical REIT, Inc. (“CVMC REIT”), completed the purchase of the 21st Century Radiation Oncology real estate portfolio (“21C Portfolio”) on April 20, 2015, for approximately $117 million. The 21C Portfolio totals more than 220,000 rentable square feet and consists of 20 oncology buildings located in Florida, California, Kentucky, Nevada and West Virginia.
All 20 properties in the 21C Portfolio are 100% master leased to affiliates of 21st Century Oncology, Inc. (“21st Century”). 21st Century is the largest global physician-led provider of integrated cancer care services and is the operator of 181 treatment centers located throughout the United States and Latin America.
A majority of the buildings in the 21C Portfolio were built after 2000, and were specifically designed to suit the needs of oncology operations. Two of the facilities in the 21C Portfolio serve as 21st Century’s headquarters.
“The quality of the tenant, the substantial remaining lease duration at purchase and the prime healthcare markets in which the 21C Portfolio facilities are located all make this group of investments valuable to our healthcare real estate portfolio,” said Michael Seton, President of CVMC REIT.
"This transaction is exemplary of CVMC REIT’s commitment to acquire high-quality assets," added John Carter, Chairman and Chief Executive Officer of CVMC REIT. "We are pleased to now partner with 21st Century and are confident that this acquisition will contribute added value for investors.”
About Carter Validus Mission Critical REIT
CVMC REIT is a real estate investment trust that invests in mission critical real estate assets located throughout the United States. Mission critical real estate assets are purpose-built facilities designed to support the most essential operations of tenants. CVMC REIT focuses its acquisitions of mission critical assets in the data center and healthcare property sectors.
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