Skip Ribbon Commands
Skip to main content

News release

BOSTON, MA

Jones Lang LaSalle Sale and Leaseback of Two Boston-Area Hospitals Marks City’s Largest Healthcare Sale in 2013

Two hospitals sell for $90 million


BOSTON, Jan. 9, 2014 — Jones Lang LaSalle’s (JLL) Capital Markets experts today announced the purchase of two Boston-area hospitals on behalf of Reliant Hospital Partners, LLC of Richardson, TX. Along with a joint venture of The Sanders Trust of Birmingham, AL and Harrison Street Real Estate Capital of Chicago, IL, the parties purchased the hospitals for $90 million from Senior Housing Properties Trust of Newton, MA, marking the Boston area’s largest healthcare property sale in 2013.  In addition, JLL assisted The Sanders Trust in securing acquisition financing through Regions Bank, Customers Bank, IBERIABANK and Cadence Bank.

Managing Director Mindy Berman and Vice President Daniel Turley led the JLL team on this transaction, while Senior Vice President Jon Schneider secured the debt.

“Both hospitals presented an incredible opportunity to invest in nationally-recognized facilities with strong performance records,” said Berman. “This transaction allows Reliant Hospital Partners to expand its corporate presence with well-established operations in a desirable northeastern U.S. metro market.”

The two hospitals sold are the 166-bed Braintree Rehabilitation Hospital located in Braintree, MA and the 168-bed New England Rehabilitation Hospital located in Woburn, MA.  Both hospitals operate several other in-patient and outpatient locations in eastern Massachusetts.

Jones Lang LaSalle 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 2012 alone, Jones Lang LaSalle Capital Markets completed $63 billion in investment sale and debt and equity transactions globally. The firm’s dealmakers completed $60 billion in global investment sales and buy-side transactions, equating to nearly $240 million of investment trades completed every working day around the globe. The firm’s Capital Markets team comprises more than 1,300 specialists, operating all over the globe.

For more news, videos and research resources on Jones Lang LaSalle, please visit the firm’s U.S. media center Web page: http://bit.ly/18P2tkv.

About Jones Lang LaSalle
Jones Lang LaSalle (NYSE:JLL) is a professional services and investment management firm offering specialized real estate services to clients seeking increased value by owning, occupying and investing in real estate. With annual revenue of $3.9 billion, Jones Lang LaSalle operates in 70 countries from more than 1,000 locations worldwide. On behalf of its clients, the firm provides management and real estate outsourcing services to a property portfolio of 2.6 billion square feet and completed $63 billion in sales, acquisitions and finance transactions in 2012. Its investment management business, LaSalle Investment Management, has $46.7 billion of real estate assets under management. For further information, visit www.jll.com.