Sila Realty Trust, Inc. Completes Acquisition of Reading Medical Outpatient Building for $10.5 Million
May 22 2024 - 9:14AM
Business Wire
Sila Realty Trust, Inc. (the “Company”), a net lease real estate
investment trust focused on investing in high quality healthcare
properties across the continuum of care, today announced the
acquisition of a medical outpatient building located in Reading,
Pennsylvania (the “Reading Healthcare Facility”), for $10.5
million.
The Reading Healthcare Facility is a two-story, 30,000 square
foot medical outpatient building constructed in 2020 and serves as
the outpatient treatment center for former patients of the adjacent
inpatient behavioral facility as well as other patients that only
require outpatient care. The purpose-built facility is positioned
on the campus of the 144-bed Tower Behavioral Health facility, also
constructed in 2020. The campus is well located, approximately four
miles north of Tower Health’s flagship 697-bed Reading
Hospital.
The Reading Healthcare Facility is fully leased to Reading
Behavioral Healthcare, a joint venture between Acadia Healthcare
and Tower Health. Acadia Healthcare is the largest provider of
behavioral healthcare services in the U.S., with 253 locations and
approximately 11,200 beds, spanning across 38 states and Puerto
Rico. Tower Health is a not-for-profit regional integrated
healthcare system headquartered in West Reading, Pennsylvania, that
offers high quality, leading-edge healthcare and wellness services
at its three acute care hospitals, a surgical hospital, and a
children's hospital located in eastern Pennsylvania.
“We are pleased to announce the addition of a newly constructed,
on-campus, Class A medical outpatient building to our dynamic
portfolio of healthcare assets, featuring tenancy comprised of a
leading local healthcare system and the largest operator of
behavioral health facilities in the country,” stated Michael A.
Seton, President and Chief Executive Officer of the Company. “The
facility exemplifies our commitment to sourcing and acquiring what
we believe are accretive opportunities that are critical to the
business operations of our tenants and the communities in which
they serve.”
About Sila Realty Trust, Inc.
Sila Realty Trust, Inc. is a net lease real estate investment
trust headquartered in Tampa, Florida, with a strategic focus on
investing in the significant, growing, and resilient healthcare
sector of the U.S. economy. The Company invests in high quality
healthcare facilities along the continuum of care, which, we
believe, generate predictable, durable, and growing income streams.
Our portfolio is comprised of high-quality tenants in
geographically diverse facilities which are positioned to
capitalize on the dynamic delivery of healthcare to patients. As of
March 31, 2024, the Company owned 136 real estate properties and
two undeveloped land parcels located in 64 markets across the
U.S.
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Miles Callahan, Senior Vice President of Capital Markets and
Investor Relations 833-404-4107 IR@silarealtytrust.com