Transactions: CNL making move into inpatient rehabilitation by purchasing five facilities

ORLANDO, Fla. – CNL Healthcare Properties’ first endeavor into owning inpatient rehabilitation facilities (IRFs) is certainly going to be a significant one.

On May 13, the non-traded real estate investment trust (REIT) entered into purchase agreements to acquire three post-acute care rehabilitation hospitals for a total of $68 million in Oklahoma, Nevada and Indiana. The sellers, affiliates of TST Properties Inc., are limited liability companies (LLCs) that own each of the facilities.

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