REIT PROVIDES $15M INVESTMENT FOR HOSPITAL REDEVELOPMENT

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DALLAS — Carter Validus Mission Critical REIT has closed a $15 million preferred equity investment to redevelop an existing medical office building in Dallas. The hospital will be renamed Walnut Hill Doctors Hospital, which will span 200,000 square feet and include 84 in-patient beds, 16 intensive care units and six operating rooms. The hospital will feature emergency, urgent care, diagnostic imaging, surgery, cardiology and general acute care capabilities. The REIT also has the option to acquire the property after completion of the renovations. The equity investment will be used along with a $34 million construction loan and a $21 million equity investment by a private development group.

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