TEXAS PROPERTIES PART OF $332M HEALTHCARE PORTFOLIO SALE
TEXAS — Seavest Healthcare Properties has sold 14 medical office buildings in six states totaling 1.2 million square feet to Duke Realty for $332 million. The purchase price averages out to approximately $267 per square foot. The 14 properties included four from Texas, including the Longview Medical Office Building in Longview, Hillcrest Baptist Medical Center I & II in Waco and the Medical Mall of Abilene in Abilene. The properties, on average, are 90 percent leased and most are located on hospital campuses. Seavest sold the properties from its Seavest Properties I & II investment funds. Evercore Partners acted as sole advisor to Seavest.