Sila Realty Trust Completes Acquisition of a Two-Property Medical Outpatient Building Portfolio for $16.15 Million
Sila Realty Trust, Inc. (NYSE:SILA) (the "Company", "we", or "our"), a net lease real estate investment trust ("REIT") with a strategic focus on investing in the growing and resilient healthcare sector, today announced the $16.15 million acquisition of two medical outpatient buildings ("MOBs") located in Southlake, Texas, an affluent suburb in the Dallas-Fort Worth-Arlington MSA (the "Portfolio" or "Southlake Healthcare Facilities").
The Portfolio is comprised of one gastroenterology center and one ambulatory surgery center ("ASC") with an overlapping physician group and patient population, benefiting from strong operational synergies due to their complementary uses and proximity to each other. The gastroenterology center is leased to GI Alliance, the largest gastroenterology group in the United States and a subsidiary of investment grade-rated Cardinal Health. The ASC is leased to a joint venture between a partnership comprised of Baylor Scott & White Health and United Surgical Partners International and a group of physicians.
"The operational integration of the Southlake Healthcare Facilities paired with the strong institutional support of the tenancies are key characteristics that we seek in the triple-net lease healthcare facilities that we endeavor to own," stated Michael A. Seton, President and Chief Executive Officer of the Company. "The ASC's affiliation with Baylor Scott & White Health and the tenants' focus on the best possible outcomes for patients result in strong operating performance and, consequently, durable income streams for Sila."
About GI Alliance & Cardinal Health
GI Alliance is the largest gastroenterology group in the United States with over 1,000 physicians across the country. Partnering with the nation's premier independent gastroenterology physician practices, GI Alliance supports operational management, ancillary service development, and patient engagement, enabling practices to focus on providing the highest quality patient care while maintaining clinical autonomy. In January 2025, Cardinal Health acquired a 73% majority stake in GI Alliance for approximately $2.8 billion.
Cardinal Health is a publicly traded, global healthcare services and products company that serves nearly 90% of all U.S. hospitals. The company provides customized solutions for hospitals, healthcare systems, pharmacies, ambulatory surgery centers, clinical laboratories, physician offices and patients in the home and is the 14th highest revenue generating company in the U.S. It is also the largest distributor of medical supplies and surgical products across the country.
About Baylor Scott & White Health and United Surgical Partners International
Baylor Scott & White Health ("BSWH") is the largest not-for-profit healthcare system in Texas and one of the largest in the United States with more than 7,200 physicians and over 57,000 total employees. BSWH operates at 52 hospitals and over 1,300 clinics and care sites across north and central Texas, with the nearest hospital, the 302 bed Baylor Scott & White Medical Center, approximately two miles from the Southlake Healthcare Facilities.
United Surgical Partners International ("USPI") is a for-profit subsidiary of Tenet Healthcare, operating as the largest ambulatory surgery service provider in the United States. USPI serves as a platform for partnerships with physicians and not-for-profit health systems, offering high-quality, convenient, outpatient surgical care. Today, USPI has over 535 ASCs and surgical hospitals across 37 states.
About Sila Realty Trust, Inc.
Sila Realty Trust, Inc., headquartered in Tampa, Florida, is a net lease real estate investment trust with a strategic focus on investing in the growing and resilient healthcare sector. The Company invests in high quality healthcare facilities along the continuum of care in the pursuit of generating predictable, durable, and growing income streams. Sila's portfolio comprises high quality tenants in geographically diverse facilities, which are positioned to capitalize on the dynamic delivery of healthcare to patients. As of March 31, 2025, the Company owned 136 real estate properties, and two undeveloped land parcels, located in 66 markets across the United States. For more information, please visit the Company's website at www.silarealtytrust.com.
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