Seavest Healthcare Properties has acquired two medical offices in Napa, Calif., for $11.2 million.
Seavest buys two medical offices
Seavest, a healthcare real estate investment firm in White Plains, N.Y., bought the 65,000 square-foot complex from a trust servicer, which foreclosed in early 2010. The complex is next to Queen of the Valley Medical Center in Napa.
SKS Medical Properties of San Francisco will manage the property, which comprises two two-story buildings connected by a pedestrian breezeway on about three acres. Seavest said it plans to invest about $2.5 million in capital improvements to the buildings, which were built in the 1980s.
"Our ownership, management and operational style is to invest significantly in capital improvements to make the property an attractive location for the hospital and physician tenants and their patients," said Seavest President Douglas Ray in a news release.
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