URTI acquires 44,323 s/f medical office building for $15.65 million

United Realty Trust Incorporated (URTI), an SEC publicly registered non-traded REIT led by Jacob Frydman, has acquired 945 82nd Pkwy., a stabilized triple-net leased medical office facility. United Realty paid $15.65 million for the 44,323 s/f property in an off-market transaction. The two-story medical office building, built in 1999 at the intersection of US-17 and 82nd Pkwy., is currently 100% leased to three tenants - Carolina Health Specialists, The Cardiology/Gastroenterology Associates, and Grand Strand Regional Diagnostic and Women's Center. The building is located adjacent to the Grand Strand Regional Medical Center (GSRMC). GSRMC is a general acute care hospital serving the residents and visitors of Horry, Georgetown and surrounding counties. With a medical staff of more than 275 physicians, the 219-bed facility employs more than 900 staff members and receives the benefit of services provided by over 200 volunteers. "This medical office building represents an attractive acquisition in this particular market while also fitting the target investment profile for the income silo of URTI's dual acquisitions strategy," said Jacob Frydman, CEO and Chairman of United Realty Trust. "In addition to the upside of being located near a major regional healthcare facility, this property has good visibility, is easy to access and provides ample on-site parking, which is important for patient care." The property includes 224 onsite outdoor parking spaces and is situated on three acres. The building features a modern design with steel-frames and brick veneer, stone veneer and stucco exterior finishes.