Board of Regents of The University of Texas System acquired Webster Healthcare Facility II from Sila Realty Trust, Inc. (OTCPK:CVMC.A) for approximately $260 million on December 15, 2023. The Company used a portion of the net sales proceeds to pay down all of its outstanding variable rate debt, leaving the Company with 100% of its debt fixed through interest rate swaps, with the balance of proceeds to be used for general corporate purposes. Until the disposition, the facility has been leased to the Board of Regents of the University of Texas and operated as the Clear Lake Campus for the University of Texas Medical Branch. The lease agreement contained a purchase option, in favor of the Board of Regents of the University of Texas, which it elected to exercise and close on the purchase.

Board of Regents of The University of Texas System completed the acquisition of Webster Healthcare Facility II from Sila Realty Trust, Inc. (OTCPK:CVMC.A) on December 15, 2023.