SEAVEST ACQUIRES TWO MEDICAL OFFICE BUILDINGS IN CONNECTICUT

MIDDLETOWN, CONN. — Seavest has acquired two medical office buildings in Connecticut on behalf of one of its private equity investment funds. The two properties are located within Middletown Medical Complex, an outpatient campus owned by nearby Middlesex Hospital. The buildings include a two-story, 33,482-square-foot building located at 520 Saybrook Dr. and a three-story, 30,451-square-foot building located at 940 Saybrook Rd. The buildings are 92 and 96 percent leased, respectively. Middlesex Hospital occupied 26 percent of the space in the two buildings. Concurrent with the sale, Seavest signed a ground lease for the land back with Middlesex Hospital.