Attached files
| file | filename |
|---|---|
| 8-K - Sentio Healthcare Properties Inc | v205723_8k.htm |
Exhibit
99.1
Cornerstone
Healthcare Plus REIT Contracts to acquire a Multi-
Tenant
Medical Office Building
(Irvine,
CA) December 16, 2010 -
Cornerstone Real Estate Funds, and its strategic alliance partner and
sub-advisor Servant Healthcare Investments, announced that Cornerstone
Healthcare Plus REIT (“REIT”) has executed a definitive agreement to acquire the
Hedgcoxe Health Plaza Medical Office Building from an affiliate of Caddis
Partners, LLC, a healthcare real estate developer based in Dallas, TX. Hedgcoxe
Health Plaza is a 32,109 square-foot, single-story, Class A medical office
building in Plano, TX. Terry Roussel, President and CEO of the Cornerstone
Healthcare Plus REIT noted, “This transaction marks our entry into the medical
office-building segment of healthcare real estate.” The property was constructed
in 2009 and has seven units, 6 of which are leased to various Healthcare
providers all with long-term leases and personal guarantees from the primary
physician sponsor of each practice.
Approximately
63% of the clinical space is leased to Medical Edge Healthcare Group
physicians. Medical Edge is one of the largest physician practices in
North Texas with over 450 providers in 26 different medical
specialties.
 |
“One
of the most appealing factors in acquiring a multi-tenant medical office
building in Plano, TX is the economic growth potential of the surrounding
area,” comments Servant Healthcare Investments CEO, John Mark Ramsey.
Plano is part of the Dallas-Fort Worth Area which is ranked number four in
the U.S. in terms of population.* This area is estimated to grow in the
current decade at twice the growth rate of the state and about triple the
growth rate of the U.S.** As this population continues to grow, the demand
for additional quality medical care should also continue to
grow.
|
|
Cornerstone
Real Estate Funds has been helping individuals and institutions invest in
real estate for more than 20 years in both good and bad economic
conditions. The company prides itself on its impressive track record, 8
full-cycle programs, experienced management team and successful joint
ventures. Today, Cornerstone offers a variety of public and private real
estate offerings for individuals and institutions. For more information,
please visit www.CREfunds.com.
|
 |
Contact
Information:
Chris
Marr
Cornerstone
Real Estate Funds
949-812-4418
*Source:
wikipedia.org/wiki/Dallas%E2%80%93Fort_Worth_metroplex
** Source:sterlingorganization.com/files/coit%20demos%20-%208-09.pdf
This
material does not constitute an offer to sell or a solicitation of an offer to
buy Cornerstone Healthcare Plus REIT. An offer can only be made by a prospectus
that contains more complete information on risks, management fees and other
expenses. There is no guarantee that any real estate strategy will be
successful. Past performance does not guarantee future results. Investors in a
real estate investment fund will be subjected to risks associated with owning
real estate including: economic and regulatory changes that impact the real
estate market, lease terminations which reduce rental income, rising expenses,
environmental claims, uninsured losses, potential loss of principal and the
relative illiquidity of equity real estate investments. Investments are not bank
guaranteed, not FDIC insured and may lose value.
This
release contains forward-looking statements within the meaning of Section 27A of
the Securities Act of 1933 and Section 21E of the Securities Exchange Act of
1934. Such statements involve risk and uncertainties which could cause actual
results to vary materially from those expressed in or indicated by the
forward-looking statements. Factors that may cause actual results to differ
materially include changes in general economic conditions, changes in real
estate conditions, changes in interest rates, lease-up risks, lack of financing
availability and lack of capital proceeds.
Cornerstone Real Estate Funds is the
brand/logo associated with Cornerstone Ventures, Inc. (CVI). CVI is the sponsor
and advisor of real estate investment funds that are distributed by Pacific
Cornerstone Capital, Inc. Servant Investments and Servant Healthcare
Investments are real estate companies that act as sub-advisors to certain real
estate offerings sponsored by CVI. CVI has no affiliation with the facility
mentioned above. Securities are
offered through Pacific Cornerstone Capital, Inc. Member FINRA and SIPC.
CL0240_11/2010