Carter Validus Mission Critical REIT has acquired a hospital property in Grapevine, Texas for a purchase price of USD23m.

Developed in 2007, this 61,400 square foot long-term acute care hospital property is strategically located between Dallas and Ft Worth and is positioned within five miles of several major patient hospitals.

The facility features 48 private medical rooms and a 12-bed intensive care unit, along with a diagnostic imaging suite, rehabilitation therapy suite, pharmacy, and dietary services area.

The property is 100 per cent leased to Ethicus Hospital-Grapevine, pursuant to a long-term, triple net lease. With its focus on long-term acute care, Ethicus specialises in cardiopulmonary conditions, neurological and musculoskeletal disorders as well as a wide range of medically complex conditions.

"We are thrilled to add another high quality tenant to our portfolio," says John Carter chief executive of Carter Validus Mission Critical REIT. "This new acquisition increases assets under management to over USD445,000,000."

Carter Validus Mission Critical REIT is a real estate investment trust that invests in mission critical real estate assets located throughout the US. Mission critical real estate assets are purpose-built facilities designed to support the most essential operations of tenants. Carter Validus Mission Critical REIT focuses its acquisitions of mission critical assets in the data centre and healthcare sectors.