Physicians trust pays $40M for facilities at Katy's Memorial Hermann Medical ComplexPhysicians trust pays $40M for facilities at Katy's Memorial Hermann Medical Complexhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=108382015-10-15T05:00:00Z2015-10-15T18:00:00Z

​​​KATY - Physicians Realty Trust — “the Company” — announced the closing of $297 million of investments in medical office facilities during third quarter 2015.

The Company has now completed more than $688 million of investments in medical real estate during 2015. The closings include $88 million of closings previously announced on the second quarter earnings call.

On September 1, the Company completed the acquisition of two buildings, containing 107,737 sf, affiliated with Memorial Hermann Healthcare System.

The facilities are located at 23900 Katy Fwy. and were acquired for a total purchase price of $40.4 million. The current first year unlevered cash yield is expected to be 6.5 percent.

The facilities include clinical office space, an ambulatory surgery center leased to a joint venture owned and managed by United Surgical Partners, including ownership of the joint venture by Memorial Hermann and physicians who provide services at the surgery center, and other Memorial Hermann services.

Houston-The Woodlands-Sugar Land
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