Global Medical REIT, a Bethesda, Md.-based company engaged in the acquisition and leasing of healthcare facilities, closed on a $40.65 million deal to purchase Austin, Texas-based Central Texas Rehabilitation Hospital Sept. 25.
Central Texas Rehabilitation Hospital was created through a joint venture between Louisville, Ky.-based Kindred Healthcare and Seton Healthcare Family, an 11-hospital system in Austin. Seton Healthcare is part of St. Louis-based Ascension.
As part of the deal, Global Medical REIT assumed the lease on the facility, which is approximately 9.6 years and subject to four, five-year renewal options. Global Medical REIT will receive an estimated $2.9 million in rent per year, guaranteed by Kindred Healthcare.