US Oncology HQ Near Houston Sold for $45 Million

CNNMoney.com - December 11, 2009

Investment firm W. P. Carey & Co. LLC (NYSE: WPC) announced today that CPA:17 - Global, one of its publicly held non-traded REIT affiliates, has purchased the corporate headquarters of US Oncology, Inc. in Woodlands, Texas, 30 miles north of Houston. CPA:17 - Global purchased the 204,000 square foot facility, which is leased to US Oncology on a long-term basis, for a total of approximately $45 million.

US Oncology, majority-owned by private equity firm Welsh, Carson, Anderson & Stowe, is a premier oncology services company and works closely with physicians, payers, biotechnology, pharmaceutical and medical equipment manufacturers to support every aspect of the cancer care delivery system, from drug development to distribution and outcomes measurement. According to its third quarter 2009 earnings report, US Oncology is affiliated with 1,310 physicians operating in 493 locations in 39 states. Sphere: Related Content