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Piedmont Healthcare Trades Two For One


What did Piedmont Healthcare get in exchange for the Sheffield Medical Building in Buckhead? According to an SEC filing from Universal Health Realty Income Trust, the hospital system exchanged two medical office buildings—in Sandy Springs and Vinings—and $2M for the 73,400 SF MOB at 1938 Peachtree St. At the same time, Piedmont fully leased both MOBs—totaling 36,700 SF—with Universal Health for 15 years. “Based on the fair value of the consideration received in exchange for the real property of Sheffield, this transaction resulted in an $8.7M gain,” the REIT reports.