Reading, PA — Sila Realty Trust, Inc. announced the acquisition of a medical outpatient building located in Reading for $10.5 million.
The Reading healthcare facility is a 30,000 s/f medical outpatient building and serves as the outpatient treatment center for former patients of the adjacent inpatient behavioral facility as well as other patients that only require outpatient care. The purpose-built facility is positioned on the campus of the 144-bed Tower Behavioral Health facility, also constructed in 2020. The campus is well located four miles north of Tower Health’s flagship 697-bed Reading Hospital.
The Reading Healthcare Facility is fully leased to Reading Behavioral Healthcare, a joint venture between Acadia Healthcare and Tower Health is a provider of behavioral healthcare services, with 253 locations and 11,200 beds, spanning across 38 states and Puerto Rico. Tower Health is a not-for-profit regional integrated healthcare system that offers high quality, leading-edge healthcare and wellness services at its three acute care hospitals, a surgical hospital, and a children's hospital located in Eastern PA.
“We are pleased to announce the addition of a newly constructed, on-campus, class A medical outpatient building to our dynamic portfolio of healthcare assets, featuring tenancy comprised of a leading local healthcare system and the largest operator of behavioral health facilities in the country,” said Michael Seton, president and CEO of the company.