Health Care REIT to Buy 36 Clinics, 2 Other Sites
Health Care Property Investors Inc. said Thursday it agreed to buy 36 clinics and two undeveloped properties from Prudential Health Care Plan Inc. for about $86 million.
The properties, in Georgia, North Carolina, Florida, Tennessee, Oklahoma, Ohio, Colorado and Texas, total 739,557 square feet and about seven acres of vacant land. The 36 clinics are leased to eight physician group practices.
Health Care Property already completed its acquisition of 26 of the properties for $55 million, including the undeveloped sites, and expects to wrap up the remaining transactions within 30 days.
“The acquisition of the Prudential portfolio is an excellent opportunity to further expand our investments into physician clinics,” said Kenneth B. Roath, chairman and chief executive of the Newport Beach-based real estate investment trust, which invests in a wide range of health care facilities.
Shares of Health Care Property Investors were unchanged at $34.31.
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