Northwest Arkansas hospital trades for $28.25M
JLL Capital Markets led the sales efforts for Mercy Rehabilitation Hospital Fort Smith, a 50-bed rehab hospital in Fort Smith
DENVER, Aug. 13, 2024 – JLL Capital Markets announced today that it has completed the $28.25 million sale of Mercy Rehabilitation Hospital Fort Smith, a 50-bed, inpatient rehabilitation hospital (“IRF”) in the northwest Arkansas community of Fort Smith.
JLL represented the seller, The Sanders Trust and procured the buyer, Sila Realty Trust, Inc. (NYSE: SILA).
Mercy Rehabilitation Hospital Fort Smith is 100 percent occupied by a joint venture between national post-acute care operator Lifepoint Health and Mercy Health System, the sixth largest Catholic healthcare system in the United States. Lifepoint Health is a best-in-class operator with strong fundamentals dedicated to helping patients recover from acute illnesses and injuries.
The freestanding hospital opened in 2021 and features 50 private rooms across two floors that are equipped with the latest rehabilitation equipment and staffed by a team of medical experts who provide comprehensive inpatient rehabilitation care. The 62,570-square-foot facility is located at 6700 Chad Colley Blvd, between Interstates 49 and 540 in northwest Arkansas.
Director CJ Kodani of JLL’s Medical Properties Group represented the sellers.
"There is strong investor interest in IRFs due to the rapid growth in demand for services," said Kodani. "The operator’s national experience with acute inpatient rehabilitation services along with the property’s strong performance and favorable lease terms make it an attractive asset for investors seeking exposure to the post-acute care sector within healthcare real estate."
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 investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.
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About JLL
For over 200 years, JLL (NYSE: JLL), a leading global commercial real estate and investment management company, has helped clients buy, build, occupy, manage and invest in a variety of commercial, industrial, hotel, residential and retail properties. A Fortune 500® company with annual revenue of $20.8 billion and operations in over 80 countries around the world, our more than 110,000 employees bring the power of a global platform combined with local expertise. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAYSM. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
About The Sanders Trust
The Sanders Trust develops and acquires medical office buildings, inpatient rehabilitation hospitals, specialty hospitals and other mission critical healthcare facilities nationwide. Headquartered in Birmingham, Alabama, The Sanders Trust has been a recognized leader in the investment community for healthcare clients since its inception in 1989 and has developed or acquired medical properties in 30 states. For more information on The Sanders Trust, visit SandersTrust.com.
About Sila Realty Trust
Sila Realty Trust, Inc. is a net lease real estate investment trust headquartered in Tampa, Florida, with a strategic focus on investing in the significant, growing, and resilient healthcare sector of the U.S. economy. The Company invests in high quality healthcare facilities along the continuum of care, which, we believe, generate predictable, durable, and growing income streams. The Company's portfolio comprises high-quality tenants in geographically diverse facilities, which are positioned to capitalize on the dynamic delivery of healthcare to patients. As of July 29, 2024, the Company owned 138 real estate properties and two undeveloped land parcels located in 65 markets across the U.S. For more information, please visit the Company’s website at silarealtytrust.com.