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Wednesday, May 23, 2012 Office
With its fourth acquisition in the last month, Grubb & Ellis Healthcare REIT has purchased the Senior Care Portfolio 1, a four-property medical portfolio in Texas, for $39.6 million from Health Care Investors III and HCP SWLTC TX 2008. The portfolio was constructed in 1993 and 1994 and consists of 155,000 square feet. Three of the properties are Gulf Health Care Center skilled nursing facilities in Texas City, Port Arthur and Galveston while the fourth is a Meadow View Assisted Living facility in Arlington. The Gulf Health Care property in Galveston is located at 3702 Cove View Rd. and consists of 43,000 square feet. It is adjacent to Highway 3005 and the Gulf of Mexico. The GHC building in Port Arthur is located at 6600 Ninth Ave. and is comprised of 43,000 square feet. It is within two miles of The Medical Center of Southeast Texas. The Texas City GHC property is located at 1720 North Logan St. and contains 44,000 square feet. The Meadow View Assisted Living property is located at 2815 Medlin Drive in Arlington. The 80-bed building contains 23,000 square feet. The portfolio also includes an additional two properties in California, the acquisition of which is expected to close at a later date. Address: Gulf Health Care Center at 3702 Cove View Blvd., Galveston, Texas - Gulf Health Care Center at 6600 Ninth Ave., Port Arthur, Texas - Gulf Health Care Center at 1720 North Logan St., Texas City, Texas - Meadow View Assisted Living at 2815 Medlin Drive, Arlington, Texas Size: 155,000 square feet Built: 1993, 1994 Filed Under: Office E-mail this article to a friend | Printer friendly format| DIGG this| Post to del.icio.us Comments on this article
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