Press Release Details

Sila Realty Trust, Inc. Completes Acquisition of Reading Medical Outpatient Building for $10.5 Million

May 22, 2024

TAMPA, Fla.--(BUSINESS WIRE)-- Sila Realty Trust, Inc. (the “Company”), a net lease real estate investment trust focused on investing in high quality healthcare properties across the continuum of care, today announced the acquisition of a medical outpatient building located in Reading, Pennsylvania (the “Reading Healthcare Facility”), for $10.5 million.

The Reading Healthcare Facility is a two-story, 30,000 square foot medical outpatient building constructed in 2020 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, approximately 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. Acadia Healthcare is the largest provider of behavioral healthcare services in the U.S., with 253 locations and approximately 11,200 beds, spanning across 38 states and Puerto Rico. Tower Health is a not-for-profit regional integrated healthcare system headquartered in West Reading, Pennsylvania, 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 Pennsylvania.

“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,” stated Michael A. Seton, President and Chief Executive Officer of the Company. “The facility exemplifies our commitment to sourcing and acquiring what we believe are accretive opportunities that are critical to the business operations of our tenants and the communities in which they serve.”

About Sila Realty Trust, Inc.

Sila Realty Trust, Inc. is a net lease real estate investment trust headquartered in Tampa, Florida, with a strategic focus on investing in the significant, growing, and resilient healthcare sector of the U.S. economy. The Company invests in high quality healthcare facilities along the continuum of care, which, we believe, generate predictable, durable, and growing income streams. Our portfolio is comprised of high-quality tenants in geographically diverse facilities which are positioned to capitalize on the dynamic delivery of healthcare to patients. As of March 31, 2024, the Company owned 136 real estate properties and two undeveloped land parcels located in 64 markets across the U.S.

Forward-Looking Statements

Certain statements contained herein, other than historical fact, may be considered “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and are intended to be covered by the safe harbor provided by the same. These statements are based on management’s current expectations and beliefs and are subject to a number of trends and uncertainties. No forward-looking statement is intended to, nor shall it, serve as a guarantee of future performance. You can identify the forward-looking statements by the use of words such as “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “outlook,” “plan,” “potential,” “predict,” “project,” “seek,” “should,” “will” and other similar terms and phrases. Forward-looking statements are subject to various risks and uncertainties and factors that could cause actual results to differ materially from the Company's expectations, and you should not rely on forward-looking statements since they involve known and unknown risks, uncertainties and other factors, which are, in some cases, beyond the Company's control and could materially affect the Company's results of operations, financial condition, cash flows, performance or future achievements or events. Additional factors include those described under the section entitled Item 1A. "Risk Factors" of Part I of the Company's 2023 Annual Report on Form 10-K with the SEC, copies of which are available at The Company undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise, except as required by law.

Miles Callahan, Senior Vice President of Capital Markets and Investor Relations

Source: Sila Realty Trust, Inc.

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