Five of the buildings are near or even attached to St. Rita's, afacility that serves a 10-county area and is affiliated withCatholic Healthcare Partners.. The other building is in downtownLima. The closeness to the hospital was the prime selling point forthe buyer, says Danny Prosky, VP of acquisitions for the REIT. "St.Rita's is the dominant hospital here," he tells GlobeSt.com. "Plus,as part of a $130 million expansion, they're adding 90 beds andopening up a brand-new, nine-story patient tower."

Some of the space in the buildings are office condos, ownedmostly by the doctors who practice there. "In four of the buildingswe own them 100%, and the other two we have less," Prosky says. Theleasable space is about 80% occupied, he says. "We bought them atan attractive price, we don't assume we'll lease them up quickly.We've got a four-year lease up period planned. Most of the vacancyis in one building, the newest of the six." The ages of theproperties range from 3 years old to the Downtown building, whichwas constructed in the 1920s.

The average lease range, Prosky says, is between $9 for thedowntown building and $14 on the hospital campus. Fourteen of theleases, about two-thirds of the rented space, expire in 2012.