Grubb & Ellis Healthcare REIT Takes 8 Properties
- Jul 07, 2008
Grubb & Ellis Healthcare REIT Inc. has acquired eight properties in three separate deals.First up is the acquisition of Renaissance Medical Centre, a five-story, Class A medical office building located in the Salt Lake City suburb of Bountiful, Utah. Located at 1551 S. Renaissance Drive, Renaissance Medical Centre consists of approximately 112,000 square feet of gross leaseable area. The property is part of the larger Renaissance Towne Centre mixed-use development and is approximately 88 percent leased. The Renaissance Medical Centre was acquired from an unaffiliated third party represented by Chris Bodnar of CB Richard Ellis-Colorado Private Client Group. In another transaction, Grubb & Ellis Healthcare completed its acquisition of Senior Care Portfolio 1 with the addition of two skilled nursing facilities in California. The portfolio is comprised of an aggregate of six properties, including four in Texas, which were acquired in March 2008. The two California properties of Senior Care Portfolio 1 were acquired from HCP Inc. Located at 11900 Ramona Blvd. in El Monte and 1955 Lomita Blvd., in Lomita, each of the California properties comprises one single-story skilled nursing facility. The two properties total approximately 71,000 square feet of gross leasable area and are 100 percent leased to North American Healthcare which operates 219 patient beds. And lastly, the firm announced the acquisition of Medical Portfolio 2. The portfolio consists of three medical buildings in Missouri: 5551 Winghaven, in O’Fallon, 969 North Mason St. and 909 North 14th St. both in St. Louis, as well as two in Texas: 180 Bear Creek Parkway in Keller and 1722 9th Street in Wichita Falls. Medical Portfolio 2 was acquired from affiliated entities of The Cirrus Group. Last week amongst news of several transactions, CPN reported that after a series of high level personnel shufflings, former Grubb & Ellis Co. board chairman Anthony Thompson, who helped engineer a blockbuster merger with NNN Realty Advisors and is still the company’s second-largest stockholder, is maneuvering to rejoin the firm’s board of directors.