Sila Realty Trust, Inc. Completes Acquisition of Clive Healthcare Facilities Portfolio for $47.0 Million
TAMPA, Fla.--(BUSINESS WIRE)--Jan 10, 2022--
Sila Realty Trust, Inc. (the “Company”), a public, non-traded real estate investment trust focused on healthcare properties, today announced the acquisition of the Clive Healthcare Facilities Portfolio (the “Portfolio”) for a contract purchase price of $47.0 million, excluding acquisition costs.
The Portfolio consists of three fully leased medical office buildings totaling 132,617 rentable square feet, and two parcels of land totaling 1.52 acres. The Portfolio is situated on the Mercy Wellness Campus, across the street from the 82-bed MercyOne West Des Moines Medical Center, and the 95-bed UnityPoint Health - Methodist West Hospital. In November 2018, the Company acquired a 58,156 rentable square foot medical office building located adjacent to the Portfolio on the same campus for $23.5 million. With this acquisition, the Company now owns and controls the entire medical office campus.
The Portfolio’s two single tenant and one multi-tenant medical office buildings are anchored by Catholic Health Initiatives – Iowa Corp., doing business as MercyOne, an affiliate of CommonSpirit Health. Patient services provided by tenants of the Portfolio include diagnostics and treatment of cancers, sleep disorders, physical therapy and rehabilitation, as well as preventative health and wellness services.
The Portfolio is located in Clive, IA, approximately 10 miles west of downtown Des Moines, and is part of the five-county Des Moines-West Des Moines Metropolitan Statistical Area. The Portfolio benefits from proximity to multiple medical centers and convenient thoroughfare access for patients and physicians.
Michael A. Seton, Chief Executive Officer and President of the Company, commented, “The Clive Healthcare Facilities Portfolio is comprised of institutional quality medical office buildings that exhibit the attributes and local market affiliations that exemplify our strategy of acquiring healthcare facilities along the continuum of care with emphasis on lower cost patient settings.”
About Sila Realty Trust, Inc.
Sila Realty Trust, Inc. is a public, non-traded real estate investment trust headquartered in Tampa, Florida, that invests in high-quality healthcare properties leased to tenants capitalizing on critical and structural economic growth drivers. The Company is focused on investing in and managing strategic healthcare assets across the continuum of care, with emphasis on lower cost patient settings, which generate predictable, durable and growing income streams. As of September 30, 2021, the company owned 125 real estate properties located in 56 markets across the United States.
Certain statements contained herein, other than historical fact, may be considered “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and are intended to be covered by the safe harbor provided by the same. These statements are based on management’s current expectations and beliefs and are subject to a number of trends and uncertainties. No forward-looking statement is intended to, nor shall it, serve as a guarantee of future performance. You can identify the forward-looking statements by the use of words such as “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “outlook,” “plan,” “potential,” “predict,” “project,” “seek,” “should,” “will” and other similar terms and phrases, including references to assumptions and forecasts of future results, strategic acquisitions and growth opportunities, and future distributions. Forward-looking statements are subject to various risks and uncertainties and factors that could cause actual results to differ materially from the Company’s expectations, and you should not rely on forward-looking statements since they involve known and unknown risks, uncertainties and other factors, which are, in some cases, beyond the Company’s control and could materially affect the Company’s results of operations, financial condition, cash flows, performance or future achievements or events. Additional factors include the risk that the expected benefits for the Company’s pure-play healthcare REIT strategy are not achieved, the ongoing costs to operate the Company on an internalized basis which, if higher than anticipated, could reduce the potential cost savings sought in the internalization transaction, and other factors, including those described under the section entitled Item 1A. “Risk Factors” of Part I of the Company’s 2020 Annual Report on Form 10-K with the SEC, copies of which are available at www.sec.gov. The Company undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise, except as required by law.
View source version on businesswire.com:https://www.businesswire.com/news/home/20220110006061/en/
CONTACT: Miles Callahan, Vice President of Capital Markets and Investor Relations
KEYWORD: FLORIDA IOWA UNITED STATES NORTH AMERICA
INDUSTRY KEYWORD: HEALTH OTHER HEALTH COMMERCIAL BUILDING & REAL ESTATE MANAGED CARE CONSTRUCTION & PROPERTY REIT
SOURCE: Sila Realty Trust, Inc.
Copyright Business Wire 2022.
PUB: 01/10/2022 05:37 PM/DISC: 01/10/2022 05:37 PM