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Prime Property Investors Closes USD 25m Healthcare Real Estate Fund; Plans USD 100m of Acquisitions.


2 March 2016 - Northbrook, Illinois-based real estate investment firm Prime Property Investors, Ltd. has launched Prime Healthcare Investors, a group of private equity funds specialising in the acquisition of triple-net-leased healthcare real estate across the US, the firm said.

The group's initial USD 25m fund, Prime Healthcare Investors Fund I LLC, which closed in late 2015, recently acquired three healthcare properties in the Dallas and Denver areas for USD 25m.

Prime Healthcare Investors plans to invest a total of USD 100m in healthcare real estate by the end of 2016 through additional acquisitions.

The fund is targeting general acute care facilities including physician offices, urgent care clinics, ambulatory surgical centers, specialty hospitals and other medical office buildings (MOB's).

Its three initial investments consist of three properties.

The firs of the, First Choice Emergency Room Wylie, Texas, is a newly built emergency room fully occupied by Adeptus Health Inc. on a 20-year triple net lease, with seven five-year renewal options.

Also being acquired is Elite Care Lewisville, Texas, a healthcare facility fully leased to Greater Houston Emergency Physicians for an initial 12-year term, with three five-year extension options.

The fund will also buy UCHealth ER of Littleton, Colorado, a recently completed freestanding building fully leased to theUniversity of Colorado Health (UCHealth) on a 20 year triple net lease with seven five-year renewal options.

Prime Property Investors is a real estate investment firm with a national portfolio of class A suburban garden-style apartment communities and healthcare-medical office properties as well as student housing properties on major college campuses.

Prime Healthcare Investors Fund I, the first of a group of healthcare related real estate private equity funds launched by Prime Property Investors, purchased three health care facilities including one in Lewisville, TX.

Country: USA

Sector: Construction/Real Estate

Target: First Choice Emergency Room Wylie, Texas; Elite Care Lewisville, Texas; UCHealth ER of Littleton, Colorado

Buyer: Prime Healthcare Investors


Deal size in USD: 100m

Type: LBO

Financing: Cash

Status: Agreed

Buyer advisor: , ,


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Publication:M & A Navigator
Geographic Code:1U7TX
Date:Mar 2, 2016
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