SANTA ANA, Calif., July 3 /PRNewswire-FirstCall/ -- Grubb & Ellis Healthcare REIT, Inc. today announced the acquisition of Medical Portfolio 2. The portfolio consists of three medical buildings in Missouri: 5551 Winghaven, 969 North Mason St. and 909 North 14th St., as well as two in Texas: 180 Bear Creek Parkway and 1722 9th Street."Medical Portfolio 2 provides further geographic diversification and financial strength to the Grubb & Ellis Healthcare REIT portfolio," said Danny Prosky, Executive Vice President of Acquisitions for Grubb & Ellis Healthcare REIT. "Each property is leased to strong tenants, which is an excellent quality when acquiring any asset for investment purposes."
5551 Winghaven in O'Fallon, Mo., is a Class A medical office building consisting of approximately 61,000 square feet of gross leaseable area situated on approximately 4.8 acres of land. The property was built in 2001 and is located just off the US Highway 40 and 61 exit, and is surrounded by various residential developments. In 2006, Money Magazine rated O'Fallon as one of the top 100 Best Places to Live in America.
Built in 1978, and renovated in 1996, 969 North Mason St. in St. Louis is a two-story medical building consisting of approximately 69,000 square feet of rentable area situated on approximately 5.6 acres of land. BJC HealthCare is the sole tenant of the building, and is one of the largest nonprofit healthcare organizations in the United States, primarily serving the Greater St. Louis, southern Illinois and mid-Missouri regions.
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