TAMPA, Fla.--(BUSINESS WIRE)--Carter Validus Mission Critical REIT, Inc. (“CVMC REIT”) announced that it acquired $52,130,500 in mission critical real estate assets during the month of August, bringing the total investment amount in its portfolio to $601,714,340, consisting of 1.9 million rentable square feet across fourteen states. The August acquisitions include:
- Valley Baptist Wellness Center, which was acquired on August 16, 2013, for a purchase price of $10,283,000. Located in Harlingen, TX, the property measures 38,111 square feet in net rentable area and was constructed in 2007 as a build-to-suit location for the current tenant;
- Akron General Integrated Medical Facility, which was acquired on August 23, 2013, for a purchase price of $9,681,000. Located in Green, OH, the property measures approximately 38,564 SF in net rentable area and is connected to the 98,705 Akron General Medical Center, which was acquired by CVMC REIT in December 2012; and
- Victory Medical Center Landmark, which was acquired on August 29, 2013, for a purchase price of $32,166,500. Located in San Antonio, TX, the property is a newly constructed state-of-the art surgical hospital completed in July 2013 and measures approximately 82,316 SF in net rentable area.
CVMC REIT’s strategy continues to focus on acquiring high quality, long-term net leased data center and healthcare properties throughout the United States that are “mission critical” or essential to the successful operations of its tenants.
Portfolio Highlights*:
• Total investments $601,714,340
• Occupancy is 100%
• Weighted average remaining lease term of the portfolio is approximately 12 years
• Average annual rental rate increases of 2.2%
“We are delighted with our ability to consistently execute on our focused strategy of acquiring mission critical real estate assets across the country,” said John Carter, CEO of CVMC REIT.
*Information is presented as of August 31, 2013
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of federal securities laws and regulations. These forward-looking statements are identified by their use of terms and phrases such as "anticipate," "believe," "continue," "could," "estimate," "expect," "intend," "may," "plan," "predict," "project," "should," "will" and other similar terms and phrases, including references to assumptions and forecasts of future results. Forward-looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties and other factors that may cause the actual results to differ materially from those anticipated at the time the forward-looking statements are made. Although the company believes the expectations reflected in such forward-looking statements are based upon reasonable assumptions, it can give no assurance that the expectations will be attained or that any deviation will not be material. The company undertakes no obligation to update any forward-looking statement contained herein to confirm the statement to actual results or changes in the company's expectations.
