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Griffin-American Healthcare REIT IV acquires USD23.5m Edmonds Medical Office Building, near Seattle.

Global Banking News-August 1, 2018-Griffin-American Healthcare REIT IV acquires USD23.5m Edmonds Medical Office Building, near Seattle

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The co-sponsors of Griffin-American Healthcare REIT IV Inc, a healthcare real estate, revealed on Tuesday the completion of the acquisition of 55,000-square-foot medical office building in the Seattle suburb of Edmonds, Washington for a purchase price of USD23.5m.

Under the terms of an agreement, the company acquired the Edmonds Medical Office Building from Edmonds Professional Center LLC, an unaffiliated third party represented by Chris Bodnar and Lee Asher of CBRE Inc.

Constructed in 1991, Edmonds Medical Office Building underwent an extensive renovation and expansion in 2007 that enlarged the building by nearly 14,000 square feet.

Additionally, the Edmonds Medical Office Building is 100% leased to nine tenants, including Virginia Mason Health System, which leases approximately 6o% of the building and Swedish Health Services, a member of Providence St. Joseph Health, the largest not-for-profit healthcare provider in the Greater Seattle area, which leases approximately 12% of the building. The 217-bed Swedish Edmonds hospital campus is located approximately one-quarter mile from Edmonds Medical Office Building.

((Distributed via M2 Communications - http://www.m2.com))

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Publication:Global Banking News (GBN)
Date:Aug 1, 2018
Words:199
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