A Phoenix-based micro-hospital, operated by San Francisco-based Dignity Health, has been acquired for $30.3 million by HPA Exchange, a business platform part of healthcare real estate company Healthcare Property Advisors.
The facility sits on 3.92 acres and features a 24/7 emergency room and imaging center. It is 100% leased to Dignity Health, part of Chicago-based CommonSpirit Health, according to a July 29 news release.
The hospital also comprises 16 patient beds, two operating suites for surgical procedures, 10 ER beds, a laboratory, a radiology suite with ultrasound, X-ray, and CT scan capabilities, and a pharmacy.
"We are thrilled to announce the acquisition of this well-located healthcare property that is leased on a long-term, absolute net-lease basis to an investment-grade tenant," Robert Lee, co-president and chief investment officer of HPA Exchange, said. "We seek out institutional-quality properties that are operated by best-in-class healthcare systems and physician groups, and this acquisition is a strong testament to the execution of our investment strategy."