Nationwide Health Properties Inc., a Newport Beach owner of healthcare real estate, said Monday it’s buying a $915 million portfolio from San Diego-based Pacific Medical Buildings.
The deal includes 28 buildings and $485 million in financing. Nationwide will receive 2 million square feet of medical office space and the right to buy an additional $1 billion in medical office buildings over seven years at a discount through a development agreement.
The move gives Nationwide a presence in the medical office sector, Chief Executive Douglas Pasquale said in a release.
Nationwide said that Jeffrey Rush, San Diego-based Pacific’s chairman and largest shareholder, is expected to become a Nationwide director after the first part of the deal closes this year.
Nationwide owns all or part of 567 healthcare facilities in 43 states and provides financing to healthcare providers.
