(ORLANDO, FL) April 27, 2012 - Sentio Healthcare Properties, Inc ("Sentio Healthcare") announces the acquisition of The Physicians Centre Medical Office Building in Bryan, TX. The acquisition is a joint venture with Caddis Partners, who will be providing leasing and management services for the building. The Property is a four-story medical office building constructed in 1999 which contains approximately 114,583 rentable square feet on 1.03 acres of land. The property is the latest addition to the Sentio Healthcare Properties REIT, of which Sentio Investments serves as advisor.
The Physicians Centre is located along University Drive in the heart of the Bryan-College Station area, home to Tier 1 research university, Texas A&M. The Medical Office Building is connected via a first-floor shared lobby and waiting area to The Physicians Centre Hospital, a six operating room/16 bed surgical hospital operated by National Surgical Hospitals that specializes in outpatient procedures providing MRI, MRA, and CT capabilities.
The Physicians Center Medical Office Building has a roster of 32 tenants and is anchored by multiple primary care practices and includes specialty physician practices, dentistry, diagnostic and other medical tenants with additional areas leased by the hospital.
"We are very pleased with this acquisition in light of how well it fits into our diversified strategy for the REIT. We believe acquiring Physician’s Center is a meaningful step in positioning Sentio Healthcare Properties on a trajectory for added value and performance for shareholders," described John Mark Ramsey, CEO of Sentio Investments and Sentio Healthcare Properties. Sentio Investments was recently elected by the Board to serve as the new advisor.
Sentio Investments, LLC is an Orlando based, real estate investment company focused primarily on seniors housing and healthcare related real estate and operations. It is led by a team of industry veterans, with 18 years’ experience investing in healthcare real estate, having previously played a lead executive role in building a portfolio consisting of over $3.5 billion in transactions encompassing nearly 300 assets. Their core objective is to tailor a capital structure that complements the operating platform of developers and owner/ operators, recognizing that each is unique in its approach and service to the healthcare industry.
Sentio serves as advisor to Sentio Healthcare Properties, Inc., a real estate investment trust (REIT) which invests exclusively in healthcare related real estate, and is committed to delivering strong and reliable returns to investors. The Company features a diversified portfolio of senior housing and medical properties throughout the United States. Their portfolio offers diversity in many areas including: asset type, geographic location, tenant/manager combination, operating model and payor mix. Having both ownership and operator’s perspectives allows them to better analyze and comprehend the complexities of the investments. (www.sentiohealthcareproperties.com)
Caddis Partners, LLC is a Dallas-based real estate development, management, and investment firm specializing in the healthcare industry. With its extensive knowledge of medical operations combined with its real estate expertise, Caddis Partners provides its physician and operations clients with an unparalleled platform of healthcare real estate services. Over the past five years, Caddis Partners has completed over $215 million in development and acquisition projects. Caddis Partners is ranked as the 6th largest developer in North Texas by Dallas Business Journal and 17th largest health care developer nationwide by Modern Healthcare magazine. (www.caddispartners.com)