Sila Realty Trust, Inc. announced on July 29 the $28.25 million acquisition of an inpatient rehabilitation facility located in Fort Smith, Arkansas.
The Fort Smith facility offers intense rehabilitation tailored to the individual needs of those recovering from stroke, brain injury, neurological conditions, trauma, spinal cord injury, amputation and orthopedic injury. The approximately 62,500-square-foot facility was built in 2021 and is fully leased to Mercy Rehabilitation Hospital, a joint venture between Mercy Hospital Fort Smith and Lifepoint Health.
Sila Realty Trust, Inc. is a public, non-traded real estate investment trust headquartered in Tampa, Florida. It invests in high-quality healthcare properties leased to tenants, capitalizing on critical and structural economic growth drivers. It owns more than 136 real estate properties and two undeveloped land parcels located in 64 markets across the United States.
“The Fort Smith Healthcare Facility’s operations combine the leading healthcare system in Fort Smith with a more than 100-year history and one of the nation’s leading inpatient rehabilitation facility operators,” stated Michael A. Seton, President and Chief Executive Officer of Sila.
“We believe this state-of-the-art facility, which has demonstrated strong and dominant performance in the market, exemplifies our strategy of acquiring institutional quality healthcare facilities operated by strong and proven tenants. The acquisition of eight Class-A healthcare properties in 2024, for an aggregate purchase price of approximately $164 million, supports our strategic objectives of delivering long-term growth, success and value creation to our investors and partners.”
According to data captured in the LevinPro HC database, this acquisition marks the 24th Rehabilitation deal announced so far during 2024. This is a 20% decrease from last year, when 30 Rehabilitation transactions were announced between January 1, 2023, and July 29, 2023.
