BIRMINGHAM, Ala. – The Sanders Trust (TST), one of the nation’s leading medical real estate investment companies, today announced a $12,000,000 acquisition of three triple- net leased medical office buildings in Bradenton, FL. Located in Manatee County, Bradenton is the largest principal city of the Bradenton-Sarasota-Venice, Florida Metropolitan area.
The buildings are subject to 15 year leases are with Nashville-based HCA (NYSE:HCA), the nation’s leading provider of healthcare services. HCA and The Sanders Trust value strong relationships with local physicians and strive to improve the care for patients in local communities.
The buildings comprise more than 60,000 square feet of multi-specialty physician clinics and other ancillary medical services at an average cost of $199 per square foot.
“This acquisition furthers The Sanders Trust’s core investment strategy of acquisition and development of Inpatient Rehabilitation Hospitals, long-term acute care hospitals and traditional medical office buildings,” said TST Senior Vice President Steve Hewett. “In the very near future, we anticipate further announcements associated with our current pipeline of strategic acquisitions and developments with some of the nation’s leading healthcare providers.” With its headquarters in Birmingham, Ala., The Sanders Trust (www.sanderstrust.com) has been a recognized leader in the investment community for healthcare clients since its inception in 1989 and has developed or acquired more than 51 medical properties in 14 states, totaling almost $500 million in value. The company’s investment strategy has been affirmed by a recent article in National Real Estate Investor Magazine, which characterized healthcare real estate as the new “recession proof” property type.