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Essential IR Insights Newsletter - February 2023

True North Commercial pays C$13.4M for Ontario property; Global Medical REIT buys 2 Pa. assets

This feature rounds uprecent property news from covered companies and highlights larger deal coveragealready published.

* True North CommercialREIT wrapped up the purchaseof a two-story office building at 6865 Century Ave. in Mississauga, Ontario, forC$13.4 million. The property sits on 2.66 acres and contains roughly 64,000 rentablesquare feet and 226 surface parking stalls.

* Global MedicalREIT completed the acquisition and leaseback transactions for the BerksEye Surgery Center and Clinic properties in Wyomissing, Pa., for approximately $9.2million.

The medical office building encompasses 17,000 square feet. Itwill be leased back to Berks Eye Physicians & Surgeons Ltd. The eye surgerycenter, meanwhile, encompasses 6,500 square feet. It will be leased back to RidgewoodSurgery Associates LLC. Both properties will be leased back under triple-net masterleases expiring in 2026, subject to two successive five-year renewal options forthe tenants at then-prevailing market rental rates.

* Griffin-AmericanHealthcare REIT IV agreed to buy the roughly 36,000-square-foot PottsvilleMedical Office Building in Pottsville, Pa. The property is fully leased to variousphysician practice groups, including Integrated Medical Group PC, which occupiesapproximately 64% of the asset.

* Medical PropertiesTrust Inc. sold the 75-bed HealthSouth Rehabilitation Hospital in RoundRock, Texas, to Sanders Trust LLC and Harrison Street Real Estate Capital LLC foran undisclosed sum, the Austin Business Journalreported.According to the report, HealthSouth Corp. will continue to lease and operate thefacility at 1400 Hesters Crossing Road.

* Brookfield CanadaOffice Properties agreed to lease 140,000 square feet at its BrookfieldPlace Calgary East development in Alberta, Canada, to Scotiabank, bringing the 56-story,1.4 million-square-foot east tower to 81% pre-leased. The building is on targetfor completion in late 2017.

Additional coverage:

SL Green execstrumpet leasing numbers in bold market assessment: On an earnings call,CEO Marc Holliday described a flourishing New York office market, in sharp contrastwith the more tenuous picture he presented in January.

RioCan to acquireCanada Pension Plan's stake in 4 assets for C$352M: The Canadian REITalso detailed its recent multimillion dollar acquisition activities.

Douglas Emmett,Qatar's sovereign wealth fund acquire LA office building for $225M:The 365,000-square-foot property is at 12100 Wilshire Blvd. in the Brentwood submarket.

FibraHotel secures1B Mexican peso credit line: The credit line has a 10-year term andthe company has 24 months to make disbursements.

Hersha Hospitalitypays $70.8M for boutique hotel in Boston: The company acquired the propertyfrom Norwich Partners.

Corporate Officesets up data center JV with GI Partners affiliate: The venture purchasedsix of the company's single-tenant data center facilities.