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News Release: National Triple Net-Leased Healthcare Portfolios Trade

JLL completes $137.6 million sale of Inpatient Rehabilitation Hospitals

One of the assets was this HealthSouth rehab hospital in Austin, Texas, which was acquired by Carter Validus. (Photo courtesy of JLL)

BOSTON, May 8, 2017 – On behalf of Healthcare Realty Trust, JLL’s Capital Markets experts announce the sale of six Inpatient Rehabilitation Hospitals located in Arizona, Pennsylvania and Texas. In two transactions, affiliates of Global Medical REIT and Carter Validus Mission Critical REIT each purchased three hospital facilities, with a combined total of 376 beds and a total acquisition price of $137.6 million.

Managing Director Mindy Berman, Executive Vice Presidents Daniel Turley and Steve Leathers, and Vice President Brannan Knott led JLL on the sale.

“All six hospitals are strong post-acute rehabilitation facilities with leading national operators that benefit from locations near acute care hospitals that are critical for patient discharges, making these incredibly valuable inpatient facilities,” said Berman.

The hospitals are located in Austin, Dallas and Beaumont, Texas, Mechanicsburg and Altoona, Pennsylvania and Mesa, Arizona.  The hospitals are operated by HealthSouth and are part of its nation-leading network with 121 total hospital locations and 21 percent of licensed beds in the United States, as well as by Post Acute Medical which operates 31 hospitals nationally, including 14 inpatient rehabilitation facilities.

“Having sold 18 inpatient rehabilitation hospitals in the last four years,” Berman added, “We have incomparable experience in underwriting Inpatient Rehab Facility operations and operators to drive results for our clients.”

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm’s in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether a sale, financing, repositioning, advisory or recapitalization execution. In 2016 alone, JLL Capital Markets completed $136 billion in investment sale and debt and equity transactions globally. The firm’s Capital Markets team comprises more than 2,000 specialists, operating all over the globe.

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About JLL

JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. A Fortune 500 company, JLL helps real estate owners, occupiers and investors achieve their business ambitions. In 2016, JLL had revenue of $6.8 billion and fee revenue of $5.8 billion and, on behalf of clients, managed 4.4 billion square feet, or 409 million square meters, and completed sales acquisitions and finance transactions of approximately $136 billion. At the end of the first quarter of 2017, JLL had nearly 300 corporate offices, operations in over 80 countries and a global workforce of more than 78,000. As of March 31, 2017, LaSalle Investment Management had $58.0 billion of real estate under asset management. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit www.jll.com.

Heather Filkins
+1 312 228 2139

Scott Sutton
+1 312 228 2863

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