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7/08/15
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American Realty Capital Healthcare Trust II Inc has purchased a 34k sf medical office building in Santa Rosa. The building, located at 121 Sotoyome, north of Maple Ave and east of Hwy 101, was sold by Sotoyome Medical Building LLC, who carved it out of a larger healthcare portfolio located throughout Sonoma and Mendocino Counties. The price was not disclosed.
121 Sotoyome is directly adjacent to Santa Rosa Memorial Hospital, a 278-bed, acute care facility and Level II Trauma Center in Santa Rosa, about 55 miles north of San Francisco. Santa Rosa Memorial Hospital is a member of the prestigious St. Joseph Health System.
The property is fully leased to St. Joseph Heritage Healthcare and functions as an outpatient multi-specialty and radiology service center with built out rooms for MRI, PET, CT and Linear Accelerators. Originally built in 1955, the property has been consistently updated throughout the years with more than $5 mil in improvements made since 2005.
Evan Kovac of HFF represented the seller in the transaction.
“The market for well-positioned medical office buildings is outstanding. St. Joseph’s Outpatient Center is a highly specialized facility, providing critical radiology and imaging services to the Santa Rosa community. The aging trends of baby boomers coupled with recession resistant performance of medical office properties creates stability well into the future,” said Kovac.
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