World-class REIT Acquired an Office Building Plus a Medical Center

April 05, 2011 / Albert Hamon, Mergers and Acquisitions Reporter

A medical office building situated within the campus of St. Anthony North Hospital in the Denver has been recently acquired by a healthcare trust — Grubb & Ellis Healthcare REIT. The office building, Saint Anthony North Medical Office Building, is located at 8501 Bryant Street at the suburb of Westminster in Denver, Colorado.

World-class REIT Acquired an Office Building Plus a Medical Center

In another transaction made by Grubb & Ellis Healthcare, another commercial property was acquired in Los Angeles. The 34,000 square feet pediatric care center — Linda Pediatric Specialty Hospital, is located in the suburb of Loma Linda, Los Angeles.

St. Anthony North Medical Office Building, according to company information, has received a Leadership in Energy and Environmental Design or LEED Gold certified building — a designation created by the United States Green Building Council.

About 85 percent leased the three-storey Class A medical office building is leased to various tenants, including the Panorama Orthopedics and Spine Center and St. Anthony North Hospital who leases nearly 74 percent of the commercial building in the aggregate. The property was bought by the healthcare trust from SAN MOB I and was paid in cash.

Loma Linda Pediatric Specialty Hospital, the medical center, according to the reports, is a multi-building portfolio that consists of three operational facilities including a nursing facility, an intermediate care facility for disabled children, and a preschool and pediatric day school for children with special medical needs.

Both the properties, the medical center and office building, are said to a good investment for the company because the properties are both financially healthy, said Danny Prosky, the chief operating officer and president of Grubb & Ellis Healthcare REIT

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