Holladay Properties transforms a problem property into a flagship facility
By Erin E. Porter and HREI Staff
The successful repurposing of a vacant Orlando office building into a 63-bed, four-story, 72,000 square foot IRF and LTACH for Select Medical Corp. earned Holladay Properties the 2025 HREI Insights Award for Best Renovated or Repurposed Facility. (Photo courtesy of Holladay Properties)
Not every building is a good candidate for an adaptive reuse, especially when it comes to healthcare. But one Indiana-based commercial real estate firm recently found success with the repurposing of an Orlando, Fla., property.
South Bend-based Holladay Properties recently transformed a vacant office building into a 63-bed, four-story, 72,000 square foot inpatient rehabilitation facility (IRF) and long-term acute care hospital (LTACH) for Select Medical.
Select Medical is one of the nation’s largest operators of post-acute care facilities, with 103 critical illness recovery hospitals in 28 states, 41 rehabilitation hospitals in 15 states, and 1,912 outpatient rehabilitation clinics in 37 states and the District of Columbia, as of March 31, 2026.
(As a side note, it happens that Select Medical Holding Corp. was recently acquired and taken private by an entity affiliated with a consortium of its executives and the New York-based private equity firm Welsh Carson Anderson & Stowe. The $3.9 billion transaction closed on June 30 and became effective on July 1.)
Former office is transformed
As for the repurposing project,
The full content of this article is only available to paid subscribers. If you are an active subscriber, please log in. To subscribe, please click here: SUBSCRIBE
