TAMPA, Fla., May 19, 2022--(BUSINESS WIRE)--Sila Realty Trust, Inc. (the "Company"), a public, non-traded real estate investment trust focused on healthcare properties, today announced the acquisition of a multi-tenant medical office building located in Pleasant Hills, Pennsylvania (the "Pleasant Hills Healthcare Facility") for a contract purchase price of $14.0 million, excluding acquisition costs.
The Pleasant Hills Healthcare Facility is a single-story medical office building with 33,712 rentable square feet. Situated on a 6.24-acre lot, the building was fully renovated in 2015 and is divided into four tenant suites. The facility is 100% leased to four complementary pediatric-focused specialty practices, offering services such as optometry, dentistry, psychiatric care, and a mix of other pediatric specialties.
Pleasant Hills is located in Allegheny County, Pennsylvania, which is the largest county in the Pittsburgh Metropolitan Statistical Area, and is approximately 10 miles south of downtown Pittsburgh. The Pleasant Hills Healthcare Facility benefits from a highly visible position along a major north/south thoroughfare in the Pittsburgh area.
Michael A. Seton, President and Chief Executive Officer of the Company, commented, "The Pleasant Hills Healthcare Facility is a welcome addition to our already robust portfolio of healthcare properties. This acquisition further diversifies our portfolio by both geography and tenancy and increases our overall portfolio exposure to the medical office building sector."
About Sila Realty Trust, Inc.
Sila Realty Trust, Inc. is a public, non-traded real estate investment trust headquartered in Tampa, Florida, that invests in high-quality healthcare properties leased to tenants capitalizing on critical and structural economic growth drivers. The Company is focused on investing in and managing strategic healthcare assets across the continuum of care, with emphasis on lower cost patient settings, which generate predictable, durable and growing income streams. As of March 31, 2022, the company owned 126 operating healthcare properties located in 56 markets across the United States.
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Miles Callahan, Vice President of Capital Markets and Investor Relations