TAMPA, Fl.–(BUSINESS WIRE)–Carter Validus Mission Critical REIT II, Inc. (“CVMC REIT II”) announced the acquisition of healthcare and data center properties totaling approximately $58.9 million in aggregate purchase price.
About the acquisitions:
- The Heritage Park Portfolio was acquired by CVMC REIT II on November 20, 2015, for a total purchase price of approximately $33,940,000. The Heritage Park Portfolio consists of two healthcare properties located in Sherman, Texas that are 100% leased: Heritage Park – Sherman I (“Heritage Park Surgical Hospital”) and Heritage Park – Sherman II (“Visionary Medical Imaging”). Heritage Park Surgical Hospital is a 57,576 square foot medical facility that was built in 2005 and renovated in 2010 to become a full-service surgical hospital. Heritage Park Surgical Hospital houses eight operating suites, three procedure rooms and 14 private recovery rooms, and supports an average of 15,000 surgeries per year. Visionary Medical Imaging, an 8,055 square foot medical imaging center located adjacent to Heritage Park Surgical Hospital, was built in 2005 and offers MRI, CT, x-ray, and bone density scanning services.
- Baylor Surgery Center at Fort Worth (“Baylor”) is a one-story, 36,800 square foot ambulatory surgery center located on 3.52 acres of land in Fort Worth, Texas approximately one mile from its affiliated hospital, Baylor Surgical Hospital at Fort Worth. Baylor was built in 1998 and renovated in 2015 to house ten operating rooms and an MRI suite. Baylor supports an average of 9,500 surgeries per year. Baylor was acquired by CVMC REIT II on December 23, 2015, for approximately $14,357,550 and is 100% leased.
- Waco Data Center (“Waco”) is a three-story colocation data center property located in Waco, Texas with 31,474 square feet of data center floor space and access to dual-fed 7.5 MW redundant power feeds. Waco currently offers 2.5 MW redundant transformers, a separate 1 MW building power feed, and N+1 cooling. Waco is currently networked by eight fiber network providers and is the only carrier-neutral Tier III data center within 80 miles in all directions from the natural intersection of the Houston, Austin, and Dallas/Fort Worth MSAs. Waco was acquired by CVMC REIT II on December 30, 2015, for approximately $10,700,000 and is 100% leased.
“Adding these outstanding properties to our portfolio further demonstrates our acquisition strategy to invest in high-quality properties within the data center and healthcare industries. With the addition of these mission critical investments to our portfolio, we believe we are well-positioned to deliver increased value to stockholders,” said John E. Carter, Chairman and Chief Executive Officer of CVMC REIT II.
“Our acquisition expertise and strategic partnerships continue to drive transaction volume and present accretive opportunities for CVMC REIT II. Investments such as these demonstrate our commitment to building a strong and diversified portfolio that we believe will create value for stockholders,” said Michael A. Seton, President of CVMC REIT II.
About Carter Validus Mission Critical REIT II, Inc.:
Carter Validus Mission Critical REIT II, Inc. is a public, non-traded company headquartered in Tampa, Florida that has elected to be taxed, and believes it qualifies, as a real estate investment trust. 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 http://www.cvmissioncriticalreit2.com for more information.
This press release contains forward-looking statements within the meaning of federal securities laws and regulations. These forward-looking statements are identified by their use of terms and phrases such as “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “predict,” “project,” “should,” “will” and other similar terms and phrases, including references to assumptions and forecasts of future results. Forward-looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties and other factors that may cause the actual results to differ materially from those anticipated at the time the forward-looking statements are made. Although the Company believes the expectations reflected in such forward-looking statements are based upon reasonable assumptions, it can give no assurance that the expectations will be attained or that any deviation will not be material. The Company undertakes no obligation to update any forward-looking statement contained herein to conform the statement to actual results or changes in the Company’s expectations.
Stacy Sheedy, 813-316-4292
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