COLUMBIA, 2/12/11 (Beat Byte) -- A
controversial hospital
in Columbia's Country Club Estates neighborhood that pitted neighbor against
neighbor as it slogged through the approval process, later becoming a lynchpin
issue in the 3rd Ward City Council race between Gary Kespohl and Karl Skala, has
been acquired by a large real estate investment trust (REIT).
Grubb &
Ellis Healthcare REIT II, Inc. announced
that it acquired the Landmark Acute Care Hospital, a
single-story, 31,000-square-foot medical facility located at 604 North Old
Highway 63.
Landmark Holdings of Missouri, LLC currently leases the facility, which was constructed in 2009. The acquisition marks the fourth and final piece of the Grubb & Ellis Healthcare REIT II $42 million, four-property portfolio of regional long-term acute care hospitals in Cape Girardeau, Joplin, and Athens, Ga.
Landmark Holdings of Missouri, LLC currently leases the facility, which was constructed in 2009. The acquisition marks the fourth and final piece of the Grubb & Ellis Healthcare REIT II $42 million, four-property portfolio of regional long-term acute care hospitals in Cape Girardeau, Joplin, and Athens, Ga.
REIT documents repeatedly reference the acute care
facility's close proximity to the Boone Hospital Center and University of
Missouri Women's and Children's Hospital, points of contention in the original
decision to locate the facility at the edge of a residential neighborhood.
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