Carter Validus Mission Critical REIT II has acquired its first property, Cy-Fair Surgery Center, a 13,645 square foot ambulatory surgery centre located in Houston, Texas.
The facility is located on the campus of Cypress Fairbank Hospital, which offers convenient access for patients and physicians and nearby hospitals that serve as a referral source for new patients.
This facility is 100 per cent net leased to Cy-Fair Surgery Center, which is co-owned by a group of 20 physicians and Nueterra Holdings. Nueterra has partnered with over 10,000 physicians and 25 health systems which has allowed them to pioneer new ways to unite the healthcare community.
John Carter, chief executive of CVMC REIT II, says: “We are thrilled to move forward with the purchase of our first property. The combination of strategic location, long-term triple-net lease and high quality tenant makes this an ideal first acquisition for our company and is consistent with our strategy of acquiring high quality, well located mission critical real estate.”
“Cy-Fair Surgery Center is designed to help physicians provide the highest level of care to their patients,” says Michael Seton, president and chief investment officer, Carter Validus Advisors II. “We are pleased to align ourselves with such a well-regarded healthcare organisation. This dedicated group of physicians has a demonstrated history of providing high quality, individualised, cost-effective healthcare. We are pleased to begin acquiring our portfolio of mission critical assets with high quality tenants like these.”