SANTA ANA, CA-Grubb & Ellis Healthcare REIT II has acquired an eight-property portfolio of 10 medical office buildings totaling 156,220 square feet in Arkansas, Louisiana, New Mexico and Texas from White Plains, NY-based Seavest for $30 million. The master-leased, on-campus MOBs, known as the Dixie-Lobo Medical Office Building Portfolio, had been part of the Seavest Properties I LLC investment fund since they were developed by the company in 2000-2002.

Danny Prosky, president and COO of Grubb & Ellis Healthcare REIT II, said that the portfolio “epitomizes what Grubb & Ellis Healthcare REIT II values in medical office acquisitions.” Prosky said that the properties “are all located on thriving hospital campuses with long-term stabilized tenancy, are immediately accretive to our bottom line and supportive of our investor distribution.”

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


NOT FOR REPRINT

© 2023 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

 

GlobeSt. Healthcare Real Estate 2023Event

Join the industry's top owners, investors, developers, brokers and financiers for the real estate healthcare event of the year!

Get More Information
 

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2023 ALM Global, LLC. All Rights Reserved.