ABILENE - Griffin-American Healthcare REIT II acquired five medical office buildings for an aggregate purchase price of approximately $47 million. The acquired buildings are located in Greeley, Colorado; Ruston, Louisiana; and Abilene.
The Abilene building is a single-story, 71,000-sf facility master leased to the Abilene Diagnostic Clinic, the city's largest multispecialty physician group.
The tenant leases the building subject to 15-year absolute net leases, which feature a remaining term in excess of ten years and annual rent escalations.
The building is located on the campus of the 231-bed Abilene Regional Medical Center. The medical center is owned by Community Health Systems, one of the nation's largest operators of general acute care hospitals.
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