The operating partnership of Physicians Realty Trust (DOC) has closed on an agreement with entities primarily owned by Dr. Alan Porter to purchase four medical office buildings in Florida for $17.5 million.
The buildings, which are located in Sarasota, Venice, Engelwood and Port Charlotte, total 44,295 square feet and are leased to 21st Century Oncology, the nation’s largest provider of Advanced Oncology Radiation Therapy and other integrated cancer care services to cancer patients. The current leases run until 2026.
This transaction follows Physicians Realty Trust’s recently announced acquisition of the Peachtree Dunwoody Medical Center, a multi-tenant medical office building in Atlanta’s “Pill Hill” hospital market. The purchase price for the Medical Center was $36.6 million, representing a cap rate of approximately 7 percent. That transaction closed on Feb. 28.
The Milwaukee-based, self-managed healthcare properties REIT has also recently closed on the $18.9 million acquisition of a 46,000 square foot surgical hospital in San Antonio leased to Foundation Bariatric Hospital of San Antonio, L.L.C., and the sale-leaseback of four medical office buildings located in Jackson, Conyers and McDonough, Georgia. Those four buildings, which are leased to an Atlanta, Georgia-based family medical practice, total 68,711 square feet and are subject to 15 year, absolute net leases with Eagles Landing Family Practice. The purchase price for those assets was $20.8 million.