Community Healthcare Trust REIT Acquires Medical Offices In Bemidji For $23.2M

Two medical office buildings in Bemidji, previously leased by Sanford, were sold for $23.2 million in cash to Community Healthcare Trust REIT of Tennessee. The properties, located at 1611 Anne Street and 1705 Anne Street, have a total square footage of 74,000 and are currently occupied by the Sanford Bemidji Clinic. The sale reflects a price-per-square-foot of approximately $313.

Summary of transaction details:

• Property Type: Medical Office
• Transaction Amount: $23,200,000
• Buyer: David H. Dupuy - Community Healthcare Trust REIT
• Seller: S&J Development LLC
• Broker: Brian Bruggeman - Colliers International
• Market: Bemidji, Minnesota

The purchase marks Community Healthcare Trust REIT's first foray into the Minnesota market. S&J Development LLC was the seller of the two medical office buildings, emphasizing the strategic expansion of Community Healthcare Trust REIT's portfolio. Brian Bruggeman from Colliers International facilitated the transaction, showcasing the collaboration between the involved parties in the successful sale of the medical office buildings.