TAMPA, Fla.–(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 104,912 square foot medical office building located in Burr Ridge, Illinois (the “Burr Ridge Healthcare Facility”) for $59.95 million.
The Burr Ridge Healthcare Facility is fully leased to Loyola University Medical Center (“LUMC”), a nationally ranked academic health system based in Chicago’s suburbs, which is part of the third largest metropolitan statistical area in the United States. LUMC is an academic subsidiary of Trinity Health, one of the largest not-for-profit, faith-based health care systems in the nation.
The Burr Ridge Healthcare Facility was purpose built for LUMC, and benefits from its proximity to LUMC’s three affiliated hospitals, including the flagship Loyola University Medical Center with 547 licensed beds. Burr Ridge Healthcare Facility is LUMC’s largest ambulatory care facility offering services from primary care and specialists who treat adults and children in several areas of expertise, including cardiology, women’s health, ophthalmology, transplant, neurology, radiology, and rehabilitation services such as physical, occupational, speech and cardiac. The three-story building is situated on a 6.9-acre lot and is well located, approximately 20 miles southwest of downtown Chicago.
Michael A. Seton, President and Chief Executive Officer of the Company commented, “The Burr Ridge Healthcare Facility is a highly unique healthcare real estate property in that it serves its community through world class, academic-level expertise in primary, rehabilitation, specialty, surgical, and urgent care, all in one convenient and efficient building. We are pleased with this addition to our portfolio as, we believe, it demonstrates the Company’s ability to source accretive acquisitions in the current market environment and supports our goal to maximize stockholder value by adding properties with strong creditworthy tenancy.”
About Sila Realty Trust, Inc.
Sila Realty Trust, Inc. is a public, non-traded net lease real estate investment trust headquartered in Tampa, Florida, that invests in high quality healthcare properties leased to tenants capitalizing on critical and structural economic growth drivers. The Company is focused on investing in and managing strategic healthcare assets across the continuum of care, with emphasis on lower cost patient settings, which generate predictable, durable, and growing income streams. As of June 30, 2023, the company owned 132 healthcare properties and two undeveloped land parcels located in 59 markets across the United States.
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Miles Callahan, Senior Vice President of Capital Markets and Investor Relations