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Nuveen Global Cities REIT Adds 10 U.S. Healthcare Properties for $300M
Nuveen Global Cities REIT, Inc. (GCREIT) recently closed on the acquisition of a 10-building healthcare portfolio in the Atlanta, Pittsburgh, Tampa and Dallas markets for approximately $300 million. The 661,000-square-foot portfolio was 96% leased at acquisition.
Demonstrating the robust tenant demand for space in these assets, more than 65,000 square feet of new and renewal leases have been signed or are in progress since May 2022, according to GCREIT.
“This portfolio is in line with GCREIT’s goal to acquire high-quality, recession-resilient healthcare assets in select target markets,” said Richard Kimble, co-president and lead portfolio manager of GCREIT. “These buildings are leased to best-in-class healthcare providers that are significantly invested in their space, with nine of the 10 assets featuring tenants with imaging, surgical and/or oncology build-outs.”
GCREIT didn’t disclose the seller or sellers. The acquisition will increase the REIT’s allocation to the healthcare sector t0 21%.
- ◦Sale/Acquisition
