WAXAHACHIE, GREENVILLE AND CEDAR HILL, TEXAS — Santa Ana, Calif.-based Grubb & Ellis Healthcare REIT has acquired a five-building medical office portfolio known as Medical Portfolio 4. Three of the properties are located in Texas. The first is a two-story, approximately 48,000-square-foot building located at 1305 W. Jefferson St. in Waxahachie. The building is situated on approximately 4 acres of land on the campus of The Baylor Medical Center at Waxahachie. The second property is a two-story, approximately 43,000-square-foot building located at 4501 Joe Ramsey Blvd. in Greenville. It is situated on approximately 4 acres of land across the street from Presbyterian Hospital of Greenville. The third property is a single-story, approximately 25,000-square-foot building located at 950 E. Belt Line Rd. in Cedar Hill. It is situated on approximately 3.1 acres of land within close proximity to Methodist Charlton Medical Center. The other two properties in the portfolio include an approximately 78,000-square-foot medical office building located in Phoenix and an approximately 30,000-square-foot building located in Parma, Ohio. The portfolio was acquired from affiliates of The Cirrus Group, which was represented by James Moloney and Joe Diminguez of New York City-based Cain Brothers. The acquisition price was not disclosed.
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