Orlando-based CNL Healthcare Properties II purchased an on-campus medical office building in Overland Park, Kan., for $14 million — its first medical office investment and the REIT’s second acquisition.
“The Overland Park building is an ideal second acquisition and representative of the type and quality of properties we plan to build the company around,” said Stephen H. Mauldin, president and CEO of CNL Healthcare Properties II, in a press release. “This is a stabilized asset with strong cash flows in a strategic location.”
The two-story, 38,496-square-foot facility is located on the campus of the 154-bed HCA Midwest Menorah Medical Center. The property is 100 percent leased and anchored by an ambulatory surgical center that is operated as a joint venture between HCA and a leading physicians group.