JLL is pleased to offer for sale the fee simple interest in Central Texas Rehabilitation Hospital (“CTRH”), a 50-bed rehabilitation hospital operated under a long-term absolute net lease. The tenant is a joint venture between Seton Healthcare Family (“Seton”) and Kindred Healthcare, Inc. (“Kindred”). Seton operates the nearby 447-bed Seton Medical Center Austin (“Seton Hospital”), the largest hospital in Austin, and a network of 15 hospitals and 100 clinical sites. Kindred is a leading post-acute care operator throughout the United States with over 2,700 locations including 20 rehabilitation hospitals. CTRH is located in the heart of Austin, one of the country’s fastest growing metropolitan areas.
Investment Highlights
- 50-bed, 59,258 square foot IRF located one-mile from Seton’s flagship, 447-bed Seton Hospital
- Only rehabilitation hospital in Austin operated in joint venture with Seton and Kindred
- Absolute long-term triple net lease with contractual annual rent escalations
- Seton Health has been headquartered in Austin since 1902 with 15 hospitals and 100 clinical sites
- Kindred is the largest U.S. post-acute care operator with more than $7 billion in annual revenues
- Walking distance to affluent residential communities, retail and Austin’s central business district
- Fee simple, offered free and clear of debt
Access the Confidentiality Agreement
Contact Information
Steve Leathers
Executive Vice President
O +1 212 812 5867
M +1 949 922 4195
steve.leathers@am.jll.com
Brian Bacharach
Executive Vice President
O +1 214 438 6462
M +1 214 476 3511
brian.bacharach@am.jll.com
Mindy Berman
Managing Director
O +1 617 316 6539
M +1 617 899 0657
mindy.berman@am.jll.com
Daniel Turley
Executive Vice President
O +1 617 316 6521
M +1 212 729 9327
daniel.turley@am.jll.com
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