Global Medical REIT Announces Acquisition of $17 Million Medical Office Building in Greater Los Angeles
January 17, 2019 at 02:30 pm
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Bear Real Estate Advisors announced that the real estate investment services firm represented Global Medical REIT in its acquisition of an approximately 42,000-square-foot, Class A medical office building located in the Los Angeles suburb of Corona, Calif. Global Medical REIT acquired the property for approximately $17 million. Located at 2250 S. Main St., the medical office building was built in 2009 and is 100% leased. The eight-tenant building is master-leased on a triple net basis to regional healthcare provider Citrus Valley Medical Associates for 12 years with annual rental increases. Citrus Valley Medical Associates is a group practice that specializes in allergy & immunology, family medicine, internal medicine, occupational medicine, cardiology and pediatrics. The property exchanged hands in a sale/leaseback transaction and was sold by Circle City Medical Properties and RSS Moscoso. The sellers were represented by John Bosko, senior vice president with NAI Capital.
Global Medical REIT Inc. is an internally managed real estate investment trust (REIT). The Company acquires healthcare facilities and leases those facilities to physician groups and regional and national healthcare systems. The Company conducts its business through a wholly owned subsidiaries of its operating partnership, Global Medical REIT L.P. It owns 92.91% of the outstanding common operating partnership units (OP Units) of its operating partnership, with an aggregate of 7.09% of the Operating Partnership owned by holders of long-term incentive plan units (LTIP Units) and third-party limited partners who contributed properties or services to the operating partnership in exchange for OP Units. Its portfolio includes medical office buildings (MOBs), inpatient rehab. facility (IRF), surgical hospital and others. The Company's portfolio is located in various areas, including Texas, Florida, Ohio, Oklahoma, Pennsylvania, Arizona, and Illinois.
GLOBAL MEDICAL REIT INC. 
