Capstone Capital Corporation enters into a definitive agreement to acquire additional Nevada Medical Facility.BIRMINGHAM, Alabama--(BUSINESS WIRE)--October 12, 1995--Capstone Capital Corporation (NYSE NYSE See: New York Stock Exchange :CCT CCT Circuit CCT Commission Canadienne du Tourisme (Canadian Tourism Commission) CCT Correlated Color Temperature CCT Common Customs Tariff (EU) CCT Certificate of Completion of Training ) announced today it has entered into a definitive Purchase Agreement with an affiliate of Jaramar, Ltd. to acquire Sunrise Sunrise, city (1990 pop. 64,407), Broward co., SE Fla., a residential suburb 8 mi (13 km) W of Fort Lauderdale; inc. 1961 as Sunrise Golf Village. It is a major office and commercial center and the site of Sawgrass Mills, one of the largest malls in the United States. Mountainview Medical Center, in a transaction valued at $30 million. The facility will be leased to Columbia/HCA (NYSE:COL). The facility which is located in Las Vegas Las Vegas (läs vā`gəs), city (1990 pop. 258,295), seat of Clark co., S Nev.; inc. 1911. It is the largest city in Nevada and the center of one of the fastest-growing urban areas in the United States. , Nevada, is a 200,000 square foot ancillary hospital facility located on the campus of Columbia/HCA's new Sunrise Mountainview Hospital. The facility, which is currently under construction, is scheduled to be completed by January 1996. John W. McRoberts, President and Chief Executive Officer, stated, "This transaction not only strengthens our strategic alliance with Columbia/HCA, the nation's largest healthcare services provider, but also expands Capstone's holdings in the rapidly growing Las Vegas marketplace." Capstone Capital Corporation is a self-administered real estate investment trust (REIT REIT See: Real Estate Investment Trust REIT See real estate investment trust (REIT). ) which currently owns, leases and provides financing for 39 healthcare related properties located in 13 states that are diversified as to operator, facility type and healthcare industry segment. CONTACT: Capstone Capital Corporation Andrew L. Kizer, 205/967-2092 or Morgen-Walke Associates Robert Jones/John D. Lovallo Media Contact: Michelle Zawrotny, 212/850-5600 |
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