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.
December 14, 2023
Share
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.
Sila Realty Trust, Inc. is a real estate investment trust (REIT). The Company is focused on investing in and managing strategic healthcare assets across the continuum of care, with emphasis on lower cost patient settings. It owns approximately 136 healthcare properties and two undeveloped land parcels located in 62 markets across the United States. Its portfolio includes Akron Healthcare Facility, Alexandria Healthcare Facility, Allen Healthcare Facility, Appleton Healthcare Facility, Augusta Healthcare Facility, Beaumont Healthcare Facility, Bellevue Healthcare Facility, Benton Healthcare Facility, Carrollton Healthcare Facility, Cincinnati Healthcare Facility, Yukon Healthcare Facility, El Segundo Healthcare Facility, Dallas Healthcare Facility, Pleasant Hills Healthcare Facility, Escondido Healthcare Facility, West Palm Beach Healthcare Facility, Burr Ridge Healthcare Facility, Clive Healthcare Facility, Escondido Healthcare Facility and Brownsburg Healthcare Facility, among others.
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.