MedEquities Realty Acquires Vibra IRF Assets

MedEquities Realty Acquires Vibra IRF Assets

Vibra Healthcare LLC has sold the real estate assets of its 60-bed Southern Indiana Rehabilitation Hospital, an inpatient rehabilitiation facility (IRF) it acquired on April 30 this year from KentuckyOne, a subsidiary of Ascension. The hospital is located in New Albany, Indiana, a suburb of Louisville, Kentucky, where KentuckyOne is based. The buyer, MedEquities Realty Trust, Inc. (NYSE: MRT), agreed to pay $23.4 million for the 64,380-square foot facility, with an average price-per-bed of $390,000. The company concurrently executed a 15-year triple-net lease of the IRF with Vibra at an initial lease rate of 9.0% with annual escalators. Vibra will convert the 26 beds currently used as... Read More »