On May 19, Sila Realty Trust, Inc., a public, non-traded REIT focused on healthcare properties, announced the acquisition of a multi-tenant medical office building (MOB) in Pleasant Hills, Pennsylvania for a contract purchase price of $14 million, excluding acquisition costs.
This is Sila Realty Trust’s third transaction since the start of 2022 and the 78th MOB acquisition of the year. In January, Sila Realty Trust acquired a portfolio consisting of three MOBs totaling 132,617 square feet and two parcels of land totaling 1.52 acres for $47 million. Then, in March, the company acquired a Class-A MOB in the Oklahoma City area for $19.4 million.
The Pleasant Hills property is a single-story MOB 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. It is 100% leased to four complimentary pediatric-focused specialty practices, offering services such as optometry, dentistry, psychiatric care and a mix of other pediatric specialties.
Pleasant Hills is a borough approximately 10 miles south of downtown Pittsburgh. The Pleasant MOB facility benefits from a highly visible position on a major North/South highway in the Pittsburgh area.
