Capstone Capital announces two transactions valued at $17.7 million.BIRMINGHAM, Ala.--(BUSINESS WIRE)--January 9, 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 ) today announced the closing of two transactions valued at $17.7 million. Capstone has acquired for $10.2 million a 114 bed sub-acute care facility located in Alexandria, Virginia Alexandria is an independent city in the Commonwealth of Virginia. As of the 2000 census, the city had a total population of 128,284. Located along the Western bank of the Potomac River, Alexandria is approximately 6 miles (9.6 kilometers) south of downtown Washington, DC. . The facility was purchased from Integrated Health Services health services Managed care The benefits covered under a health contract , Inc. located in Owings Mills, Maryland Owings Mills is an unincorporated community and a census-designated place in Baltimore County, Maryland, United States. The population was 20,193 at the 2000 census. Owings Mills is home to the northern terminus for the Baltimore Metro Subway and to Owings Mills Mall. , (NYSE:IHS IHS (I.H.S.) first three letters of Greek spelling of Jesus; also taken as acronym of Iesus Hominum Salvator ‘Jesus, Savior of Mankind.’ [Christian Symbolism: Brewer Dictionary, 480] See : Christ IHS ), which had recently acquired and renovated the facility. Integrated Health Services, Inc., the nation's largest provider of sub-acute care services, will continue to operate the facility under a long-term lease. Additionally, Capstone has completed a transaction to provide construction and permanent mortgage financing of up to $7.5 million for a four-story, 80,000 square foot ancillary hospital facility located on the campus of Beaumont Regional Medical Center, a 250-bed acute-care hospital in Beaumont, Texas. The hospital is owned by Columbia/HCA Healthcare Corp. of Louisville, Kentucky, (NYSE:COL), the largest healthcare provider in the United States. Construction funding has begun on the ancillary hospital facility, which will be owned by Medistar Corporation, a privately owned developer, owner and manager of medical related properties. Medistar will lease the ancillary hospital facility to Beaumont Medical Center under a long-term lease. Capstone's president, John W. McRoberts, said "With these two transactions, Capstone has either acquired, financed or committed to finance approximately $80 million in projects since our initial public offering in June. This will result in a near doubling of our assets within the first year of operations. Additionally, the transactions have allowed us to achieve more favorable diversification within our portfolio of healthcare related properties." 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 30 healthcare related properties located in eleven states that are diversified as to operator, facility type and healthcare industry segment. CONTACT: Capstone Capital Corporation, Birmingham
John W. McRoberts, 205/967-2092
or
Lovell Communications, Inc., Nashville
Paula Lovell, 615/297-7766
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