Windrose Closes Total $19M Medical Office Acquisition

ATLANTA-Windrose Medical Properties Trust has completed a three-property, 72,404-sf acquisition of medical offices one mile from the future Johns Creek Emory Hospital in suburban Suwanee for a total $18.9 million.

In a prepared statement, the Indianapolis-based REIT says it paid $5.5 million and assumed $3.6 million in debt on the 27,000-sf Johns Creek Phase I, the last of the three 100%-leased acquisitions.

Windrose paid $5.4 million for the 24,896-sf Johns Creek Phase II and $4.4 million for the 20,508-sf Johns Creek Phase III in two all-cash deals closed March 1. The properties are all on Johns Creek Parkway, within eight miles of the existing Northside Baptist Medical Center.

Fred Farrar, president and chief operating officer of Windrose, says Windrose was formed to acquire, selectively develop and manage specialty medical properties such as medical office buildings, outpatient treatment diagnostic facilities, physician group practice clinics, ambulatory surgery centers, specialty hospitals, outpatient treatment centers and other healthcare-related specialty properties.