Waco’s Hillcrest Medical Center I & II sold

WACO – Seavest Healthcare Properties has sold 14 medical office buildings in six states totaling 1.2 million sf to Duke Realty for $332 million. The purchase price averages about $267 per sf.

The four Texas properties included:

• the 101,455-sf Hillcrest Baptist Medical Center I in Waco;
• the 54,744-sf Hillcrest Baptist Medical Center II in Waco;
• the 100,740-sf Longview Medical Office Building, at 707 Hollybrook Dr.; and
• the 58,397-sf Medical Mall of Abilene in Abilene.

The portfolio is 90 percent leased, and most buildings are on hospital campuses.