INDIANAPOLIS, July 6 /PRNewswire-FirstCall/ -- Windrose Medical Properties Trust , a self-managed specialty medical properties REIT, announced today that it has closed the acquisition of Gwinnett Center for Specialty Medicine II on July 2, 2004 for approximately $3.4 million. This transaction marks the final acquisition to be closed out of the three previously announced specialty medical properties under contract in the Atlanta, GA metropolitan area. Windrose assumed $2.594 million in debt on this one property with the balance of the purchase price in cash.
"With this closing, we have completed the acquisition of three fully leased specialty medical properties and expanded our presence in Georgia to five properties. Our portfolio has reached 28 properties across over 1.1 million rentable square feet. Windrose continues to evaluate attractive medical related real estate acquisitions opportunities," stated Fred L. Farrar, President and Chief Operating Officer.
About Windrose
Windrose is a self-managed Real Estate Investment Trust (REIT) based in Indianapolis, Indiana with offices in Nashville, Tennessee. Windrose was formed to acquire, selectively develop and manage specialty medical properties, such as medical office buildings, outpatient treatment diagnostic facilities, physician group practice clinics, ambulatory surgery centers, specialty hospitals, outpatient treatment centers and other healthcare related specialty properties.
Safe Harbor
Some of the statements in this news release constitute forward-looking statements. Such statements include, in particular, statements about our beliefs, expectations, plans and strategies that are not historical facts. You should not rely on our forward-looking statements because the matters they describe are subject to known and unknown risks, uncertainties, assumptions and changes in circumstances, many of which are beyond our control, which may cause our actual results to differ significantly from those expressed in any forward-looking statement. The factors that could cause actual results to differ materially from current expectations include financial performance and condition of our lessees, adverse changes in healthcare laws, changes in economic and general business conditions, competition for specialty medical properties, our ability to finance our operations, the availability of additional acquisitions, regulatory conditions and other factors described from time to time in filings we make with the Securities and Exchange Commission. The forward-looking statements contained herein represent our judgment as of the date hereof and we caution readers not to place undue reliance on such statements. We do not undertake to publicly update or revise any forward-looking statement whether as a result of new information, future events or otherwise.
Contact: Windrose Medical Properties Trust Fred Farrar President and COO 317-860-8213 Investors/Media: The Ruth Group Stephanie Carrington/Jason Rando 646 536-7017/7025 scarrington@theruthgroup.comjrando@theruthgroup.com
Windrose Medical Properties TrustCONTACT: Fred Farrar, President and COO, +1-317-860-8213, of WindroseMedical Properties Trust; Investors/Media - Stephanie Carrington,+1-646-536-7017, scarrington@theruthgroup.com, or Jason Rando,+1-646-536-7025, jrando@theruthgroup.com, both of The Ruth Group for WindroseMedical Properties Trust
