HCP Acquires Eight Medical Office Buildings from Scottsdale Healthcare

VIZZDA--August 9th, 2012 -- Healthcare REIT HCP ($HCPI) Inc of Long Beach, CA has acquired eight medical office buildings in Scottsdale from Scottsdale Healthcare. Thomas M Klaritch for HCP Inc and Alan Kelly and Tom Sadvary for Scottsdale Healthcare were signatories on the deal. From HCP’s second quarter highlights: 

“On July 30, 2012, we executed agreements to acquire eight on-campus MOBs for $81 million from Scottsdale Healthcare. The eight on-campus MOBs located in Scottsdale, Arizona comprise approximately 398,000 rentable sq. ft. and have a current occupancy of 89%. We expect to close this acquisition early August 2012.” 

Vizzda reports the sale of these properties as closing August 7th, 2012 at a price of $75,304,875 for a total of 410,317 SF.  HCP signed 50 year ground lease agreements with Scottsdale Healthcare for each property with an option for 25 additional years. The properties are as follows:

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BY:
Edward Moore
Director of Research
emoore@vizzda.com