Nationwide Acquires Five Pacific Medical Buildings to the Tune of $211M

March 5, 2010
By Allison Landa, News Editor

Courtesy Flickr Creative Commons user rutlo

Newport Beach, Calif.-based Nationwide Health Properties has acquired five additional medical buildings with an aggregate transaction value of $211 million.

The 590,000 square-foot addition to the healthcare REIT’s portfolio encompasses buildings in the Southern California cities of Mission Viejo, of Orange, Pasadena, and San Bernadino. All are located on the campuses of A-rated healthcare systems and all were purchased by Pacific Medical Buildings LLC.

In February, Nationwide reported its fourth quarter 2009 and full-year results. Fourth-quarter revenue was up 2.9 percent from fourth quarter 2008, though income from continuing operations was down 4.7 percent. For the year 2009, revenue was up 6 percent from the previous year, while income from continuing operations jumped 17.3 percent.

As of year-end 2009, Nationwide had a 576-property portfolio spread out amongst senior housing facilities, skilled nursing facilities, medical office buildings, continuing care retirement communities, and specialty hospitals.