1st Quarter Sales
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March 28, 2024
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TUCSON, AZ (Match 28, 2024) -- 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. It recently acquired five Class A healthcare facilities in Arizona and Texas for a contract purchase price of $85.5 million ($541 PSF).

The Portfolio comprises four built-to-suit micro-hospitals and one freestanding emergency department, totaling approximately 158,000 square feet on a combined 17.5 acres. Each of the micro-hospitals is licensed for 8 inpatient beds and offers a 13-bed emergency department, operating room, laboratory, diagnostic imaging suite, and pharmacy. The freestanding emergency department is a 13-bed full-service emergency center constructed to offer the same services as the micro-hospitals.
The Portfolio is 100% leased by Tenet Healthcare Corporation, one of the nation’s largest healthcare systems, with over 15,000 licensed beds, which designed and developed these facilities from 2019 through 2021. Each property is operated under the name of Tenet's local affiliated hospital brand. Two micro-hospitals are in the Phoenix-Mesa-Chandler metropolitan statistical area and operate under the brand Abrazo Health.
One micro-hospital and a freestanding emergency department are in the Tucson MSA and operate under Carondelet Health.
  • The Medical Emergency Center at 7401 South Wilmot, Tucson dba St. Rafael's Emergency Center, sold for $15.95 million ($491.54 PSF) for the 32,450-square-foot building; and
  • the Micro-Hospital at 5620 West Cortaro Farms Road, Marana sold for $16.1 million ($532.6 PSF) for the 30,220-square-foot building.
The additional micro-hospital is in the McAllen-Edinburg-Mission, Texas MSA and operates under the brand of Valley Baptist Health. Tenet strategically chose each location because it believes each exhibits strong population density, demographics, and positive growth characteristics.
"We are pleased to announce the closing of this portfolio of properties which are emblematic of the healthcare facilities that Sila Realty Trust is focused on acquiring – high quality, well located, strong credit tenancy with healthcare system affiliations," stated Michael A. Seton, President and Chief Executive Officer of the Company. "This acquisition demonstrates our ability to source property and invest capital in what we believe to be an accretive manner to the Company while others remain on the sidelines."

Other Tucson properties owned by Sila Realty Trust include:

  • 2121 N Craycroft purchased 12/27/2019
  • 2300 S Houghton, purchased in 12/22/2020
  • 2025 W Orange Grove purchased in 12/26/2019
  • 6080 N La Cholla Blvd. purchased in 9/19/2019

Sila Realty Trust, Inc. is a net lease real estate investment trust headquartered in Tampa, Florida, with a strategic focus on investing in the U.S. economy's significant, growing, and resilient healthcare sector. 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 comprises high-quality tenants in geographically diverse facilities positioned to capitalize on the dynamic healthcare delivery to patients. As of December 31, 2023, the Company owned 131 real estate properties and two undeveloped land parcels in 62 markets across the U.S.

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