Tuesday, September 04, 2012

Uptown hospital building sold

A Florida-based real estate investment trust has purchased an Uptown medical complex.
Carter Validus Mission Critical REIT Inc. paid $31 million for the Baylor Medical Center at Uptown, an acute-care hospital at 2727 E. Lemmon Avenue at North Central Expressway.
The 3-story, 62,000-square-foot medical project was built by a unit of Duke Realty, which sold the property.
The facility opened early last year on the site of the old Mary Shiels Hospital and contains 24 in-patient beds, six operating suites, a four-room emergency department and a medical imaging center.
"We consider the tenants of this facility, Baylor Health Care System and United Surgical Partners International, to be two of the most respected names in the healthcare arena and we are excited to add this property to our portfolio of mission critical real estate assets,” John Carter, CEO of Carter Validus Mission Critical REIT, said in a statement.
Carter Validus Mission Critical REIT was formed in 2009 and invests in income-producing properties including data centers and healthcare facilities.
Carter Validus in August bought the Texas Data Centers at 1221 Coit Rd. in Plano and 5000 S. Bowen Rd. in Arlington for $45.9 million.

Real Estate Editor

Dallas Morning News