Grapevine hospital sells for $23 million

GRAPEVINE – A subsidiary of Fla.-based Carter/Validus Mission Critical REIT has acquired the fee simple interest in the 60-bed, 61,400-sf long-term acute care hospital at 4201 William D. Tate Ave. The property is 100 percent leased to Ethicus Hospital-Grapevine LP.

The property was sold by MAC Grapevine LTACH LP for $23 million, according to SEC filings. The property’s base rent is currently $2,137,699.

The Grapevine hospital property was constructed on four acres in 2007.