Leading healthcare delivery system
W. P. Carey acquires outpatient cancer treatment center in Ohio
Tenant Description: An integrated healthcare delivery system
Total Investment: $27 million
Transaction Type: Acquisition of existing lease*
Location: Ohio
Facility Type: Outpatient treatment center
W. P. Carey completed the $27 million acquisition of an outpatient cancer treatment center in Akron, Ohio. Totaling 71,000 square feet, the facility is triple-net leased to an integrated healthcare delivery system.
The facility is the tenant’s largest free-standing outpatient cancer center offering comprehensive treatment, including outpatient infusion services, medical oncology and radiation oncology. It’s strategically located on a hospital campus and has immediate access to core highways.
The facility is triple-net leased for a term of approximately 12 years.
*In an acquisition of an existing lease, W. P. Carey will acquire a single-tenant property subject to an existing net lease. This type of transaction enables the previous property owner to achieve a number of different objectives depending on their needs. For example, exit a property that no longer fits its strategy, liquidate a finite-life fund or generate proceeds to invest in new properties or for M&A activity.
Outpatient treatment facilities continue to be a compelling sub-sector for us, particularly assets that are essential to patient care and aligned with the growing outpatient treatment model. This facility is mission-critical to the tenant, and its strategic location underscores its long-term value.