US-based Sila Realty Trust has acquired a medical outpatient facility in Reading, Pennsylvania (Reading Healthcare Facility), in a deal totalling $10.5m.
Constructed in 2020, the two-storey Reading Healthcare Facility is spread over 30,000ft².
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It functions as an outpatient treatment centre for former patients of the adjacent inpatient behavioural facility and other patients requiring outpatient care.
The building is situated on the campus of a 144-bed Tower Behavioral Health facility built in 2020 and is nearly four miles north of Tower Health’s Reading Hospital which has 697 beds.
The Reading facility is leased by Reading Behavioral Healthcare, which is a joint venture between Acadia Healthcare and Tower Health.
Sila Realty Trust president and CEO Michael Seton said: “We are pleased to announce the addition of a newly constructed, on-campus, Class A medical outpatient building to our dynamic portfolio of healthcare assets, featuring tenancy comprised of a leading local healthcare system and the largest operator of behavioural health facilities in the country.
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By GlobalData“The facility exemplifies our commitment to sourcing and acquiring what we believe are accretive opportunities that are critical to the business operations of our tenants and the communities in which they serve.”
Acadia Healthcare offers behavioural healthcare services, operating at 253 locations with around 11,200 beds in 38 US states and Puerto Rico.
Tower Health focuses on providing healthcare and wellness services at its hospitals throughout eastern Pennsylvania.
Sila Realty Trust’s portfolio comprises tenants in geographically diverse facilities, positioned to capitalise on the dynamic delivery of healthcare.
As of 31 March 2024, Sila Realty Trust owned 136 real estate properties and two undeveloped land parcels in 64 US markets.
In December last year, Sila Realty Trust concluded the sale of Webster Healthcare Facility II (UTMB Health Clear Lake Hospital) to the Board of Regents of the University of Texas System.
