Cogdell Spencer ERDMAN(SM) Announces the Acquisition of St. Francis Outpatient Center in Greenville, South Carolina

CHARLOTTE, N.C., July 23 /PRNewswire/ -- Cogdell Spencer ERDMAN announced today that it will acquire St. Francis Outpatient Center in Greenville, South Carolina for $16 million.  

St. Francis Outpatient Center is approximately 72,000 square feet and houses a 14-bed Operating Room with inpatient and outpatient radiology.  The property is 100% leased by St. Francis Hospital, Inc., a subsidiary of Bon Secours Health System, Inc.  The Company developed the property and has managed the property since its opening in 2001.

"Bon Secours St. Francis Health System is a valued long-term client," said Chuck Handy, Chief Financial Officer. "We are proud to be a part of their campus and pleased to expand the portfolio presence in the Greenville market."

About Cogdell Spencer ERDMAN(SM)

Cogdell Spencer ERDMAN(SM) is the nation's premier integrated healthcare facilities company.   Our clients count on us as a trusted partner in defining their healthcare delivery strategies and developing innovative facilities solutions to support them.  We are widely recognized for creating sustainable, efficient healing environments for our clients and their patients. The Company has been built around understanding and addressing the full range of specialized real estate needs of the healthcare industry.  Cogdell Spencer ERDMAN is a service mark of the wholly-owned operating company of Cogdell Spencer Inc.  Learn more about Cogdell Spencer ERDMAN and its parent company Cogdell Spencer Inc. (NYSE: CSA) at www.cogdell.com.

SOURCE Cogdell Spencer ERDMAN