Navigation Links
NNN Healthcare/Office REIT Acquires Northmeadow Medical Center in Roswell, Georgia
Date:11/20/2007

SANTA ANA, Calif., Nov. 20 /PRNewswire/ -- NNN Healthcare/Office REIT, Inc. has acquired Northmeadow Medical Center. The acquisition closed on November 15, 2007.

Northmeadow Medical Center is an approximately 51,000-square-foot, multi-tenant medical office building in the Atlanta suburb of Roswell, Georgia. Built in 1999 on nearly five-and-a-half acres, the property is strategically located directly across the street from the North Fulton Regional Hospital campus. The property features abundant parking with a total of 262 spaces, resulting in a parking ratio of 5.1 spaces per 1,000 square feet.

North Fulton Regional Hospital (NFRH), managed by Tenet Healthcare Corporation, is a 167-bed acute-care hospital that serves North Fulton and the surrounding counties, and is one of only three Level II Trauma Centers in the Metro Atlanta area. Built in 1983, the hospital employs more than 1,000 staff members, 400 physicians, and nearly 200 volunteers. Currently, the hospital is undergoing a $50 million master renovation and construction plan that will continue over the next 12 months and add ten new exam and treatment rooms, a new trauma room, and numerous other key services to the hospital.

"Northmeadow Medical Center is an exceptional addition to our growing portfolio of properties," explained Danny Prosky, vice president of acquisitions for NNN Healthcare/Office REIT, Inc. "This acquisition offers superior access to a major hospital, has leases in place that do not begin to expire until 2012, and is located in a growing region."

Northmeadow Medical Center is approximately 99 percent leased to numerous tenants, including Northside Hospital, North Fulton Urology, and North Point Pulmonary.

NNN Healthcare/Office REIT purchased Northmeadow Medical Center from Northmeadow Parkway, LLC, which was represented by Gary Lee and Andrew Murphy of Carter Real Estate. Financing was provided by LaSalle Bank National Association. Asset management services will be provided by NNN Realty Advisors, Inc.

As of October 31, 2007, NNN Healthcare/Office REIT has sold approximately 18.1 million shares of its common stock, excluding the shares issued under its distribution reinvestment plan, for more than $180 million through its initial public offering, which began in the third quarter of 2006.

NNN Healthcare/Office REIT offers a monthly distribution of 7.25 percent per annum and has made fourteen other geographically-diverse acquisitions:

-- East Florida Senior Care Center Portfolio in Jacksonville, Winter Park,

and Sunrise, Florida;

-- 2750 Monroe Boulevard in Valley Forge, Pennsylvania;

-- St. Mary Physicians Center in Long Beach, California;

-- Kokomo Medical Office Park in Kokomo, Indiana;

-- 1 and 4 Market Exchange in Columbus, Ohio;

-- Gwinnett Professional Center in Lawrenceville, Georgia;

-- Triumph Hospital Northwest and Triumph Hospital Southwest in Greater

Houston, Texas;

-- Thunderbird Medical Plaza in Glendale, Arizona;

-- Shakerag Medical Center and Yorktown Medical Center in Fayette County,

Georgia;

-- Commons V Medical Office Building in Naples, Florida;

-- Lenox Office Park Building G in Memphis, Tennessee;

-- The Gallery Professional Building in St. Paul, Minnesota;

-- Crawfordsville Medical Office Park and Athens Surgery Center in

Crawfordsville, Indiana; and

-- Southpointe Office Parke and Epler Parke I in Indianapolis, Indiana.

Including the purchase of Northmeadow Medical Center, NNN Healthcare/Office REIT has acquired a portfolio of properties valued in excess of $294 million.

NNN Realty Advisors, Inc., a nationwide commercial real estate asset management and services firm, is the sponsor of NNN Healthcare/Office REIT, Inc. NNN Realty Advisors and affiliates manage a growing portfolio of more than 39.1 million square feet of real estate, including approximately 10,100 apartment units, with a combined market value approaching $5.4 billion. NNN Realty Advisors and affiliates are currently buying and selling properties throughout the United States, offering a full range of commercial real estate investments, including tenant-in-common (TIC) programs for investors structuring tax-deferred (like-kind) exchanges under Section 1031 of the Internal Revenue Code, real estate investment trusts (REITs), value added property funds, and institutional investments.


'/>"/>
SOURCE NNN Healthcare/Office REIT, Inc.
Copyright©2007 PR Newswire.
All rights reserved

Related medicine news :

1. NNN Healthcare/Office REIT Acquires St. Mary Physicians Center in Long Beach, California
2. NNN Healthcare/Office REIT Acquires 2750 Monroe Boulevard in Valley Forge, Pennsylvania
3. Cogdell Spencer Inc. Acquires Summit Professional Plaza I and II in Brunswick, Georgia
4. Omnicom Acquires Leading Healthcare Marketing Communications Firm in China
5. Food Bank For New York City Acquires FoodChange
6. Simcere Pharmaceutical Group Acquires a 51% Stake in Boda Pharmaceutical Co., Ltd.
7. UTC Power Acquires Dome-Tech Group
8. Concentra Acquires Assets of Renew Health & Wellness
9. DaVita Acquires Majority Stake in HomeChoice Partners, Inc.
10. Hologic Acquires Biolucent, Inc.
11. Radiation Therapy Services Acquires North Carolina Facility
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:2/12/2016)... ... February 12, 2016 , ... Coco Libre, the maker of coconut water beverages ... GRAMMY’s Style Lounge Event. Coco Libre will offer musicians and celebrities the company’s signature ... event. The invitation-only gifting suite, held this year at the W Hollywood Hotel, has ...
(Date:2/12/2016)... ... February 12, 2016 , ... The ThedaCare ... San Francisco General Hospital on April 5-7. The series is a multi-day, multi-workshop ... habits. The workshops cover a broad range of topics, including coaching skills, the ...
(Date:2/12/2016)... PITTSBURGH, Pa. (PRWEB) , ... February 12, 2016 , ... ... space heaters. , This winter the West Penn Burn Center, part of ... Fire Company #1, to bring you the “Space Heaters Need Space” campaign. ...
(Date:2/12/2016)... ... ... AssureVest Insurance Group, a locally owned insurance firm with offices serving Washington NC ... to purchase computers and software for Mrs. Harrison’s 2nd and 3rd grade special needs ... area and has more than 60 2nd and 3rd graders with learning disabilities. A ...
(Date:2/12/2016)... Vail, Colorado (PRWEB) , ... February 12, 2016 , ... ... 164 ASC Industry Physician Leaders to Know in 2016 . The list consists of ... leaders nominated physicians to establish this list. , An Ambulatory Surgery Center, also ...
Breaking Medicine News(10 mins):
(Date:2/11/2016)... 11, 2016 Stem cells are primitive cells ... self-renewal and the capacity to differentiate into mature cell ... as the first mouse embryonic stem cells were derived ... 1995 that the first culturing of embryonic stem cells ... not produced until 2006 As a result of these ...
(Date:2/11/2016)... 2016  Walgreens has committed to provide drug disposal ... Washington, D.C. as part of a program ... by shareholder advocacy organization As You Sow. Conrad ... people hold on to unneeded drugs because they lack easily ... --> Conrad MacKerron , Senior Vice President ...
(Date:2/11/2016)... Feb. 11, 2016  NOIT™ Research LLC, a private, ... of Change" campaign to assist needy families in obtaining ... unit sold between February 10, 2016 and March 31, ... needy family. The NOIT is an auditory stimulus that ... develop language skills. Beth Shier , ...
Breaking Medicine Technology: