Medical Facility Acquired by Healthcare REIT

February 04, 2011 / Elizabeth Buckley, Commercial Property Analyst

A healthcare real estate investment trust has recently acquired a medical facility—an acute care, long- term hospital in Columbia, Missouri. According to a press release, the investment trust who seeks to invest on demographic trends to attract other investors to health care related real estates— Grubb & Ellis Healthcare has acquired a medical facility from White Oaks Real Estate Investments.

Medical Facility Acquired by Healthcare REIT

The medical facility, located at North Old Highway in Columbia, is a few miles away from two other full- service hospitals in the area, which serves as important sources for its referral patients.

One hospital, the Boone Hospital Center is a full- service hospital just a mile from the medical facility, and has about 394- bed for in- patients. The other full- service hospital, a children’s and women’s hospital of the University of Missouri, is also a few miles from the medical facility.

Completed in 2009, the medical facility is leased by the owner and operator of Columbia Long-Term Acute Care Hospital— Landmark Holdings of Missouri, which signed and agreed to a long- term contract for the property until 2026.

Grubb & Ellis recent purchase is its fourth and final acquisition that is part of a four-property portfolio of local acute care hospitals, which is worth about $42 million.

According to the REIT’s president and chief operating officer, Danny Prosky, the four acute care hospitals, including the recently acquired medical facility are excellent addition to the company.

The medical facility’s seller is represented by Creative Health Capital for the transaction, stated the press release.

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