Carter Validus Mission Critical REIT II, Inc. has acquired 100 percent of the fee simple interest in the Baylor Surgical Hospital at Fort Worth, an 83,464 square foot medical facility property in the Dallas/Fort Worth, TX metropolitan area, for $48,210,548 plus closing costs.
The seller was Fort Worth Hospital Real Estate, LP.
The Baylor Surgical Hospital at Fort Worth delivered in October 2014. It is fully leased to Fort Worth Surgicare Partners, Ltd., which entered into a net lease that requires it to pay all operating expenses and capital expenditures at the facility.
The tenant pays $38.88 per square foot to occupy the property, or $3,244,590 in annual base rent. This rent increases annually by 2.00 percent of the then-current annual base rent.
Carter Validus Mission Critical REIT II financed the purchase of the Baylor Surgical Hospital at Fort Worth using net proceeds from its ongoing initial public offering and a KeyBank Credit Facility.