Healthcare REIT Acquires CHI Medical Office Facilities for $324M
By
John Thomas, Physicians Realty Trust
Milwaukee—Physicians Realty Trust has acquired the first tranche of its previously announced pending purchase of medical office facilities from Catholic Health Initiatives for $324 million.
The first tranche includes 26 medical office facilities, totaling 1,390,646 rentable square feet, which are 90.4 percent occupied, with 75 percent of the space leased by CHI affiliated hospitals and physicians.
“We focus our investment efforts on high quality healthcare providers who seek a real estate partner to help them optimize their clinical delivery,” John T. Thomas, Physicians Realty Trust CEO, told Commercial Property Executive. “Chi is particularly appealing due to the markets they serve, like Seattle and Louisville, and their faith based mission. CHI has been growing rapidly, and we expect we will have the opportunity to grow even more with them through our relationship.”…
Healthcare REIT Acquires CHI Medical Office Facilities for $324M
