DALLAS-Cornerstone Healthcare Plus REIT has acquired a 42-bedinpatient rehabilitation facility for $14.75 million in an all-cashtransaction.
The Irvine, CA-based non-traded REIT bought the40,000-square-foot property from local owner The Cirrus Group. Theproperty is leased under a long-term triple-net lease toGlobalRehab LP, a physician-run rehabilitation operator, throughFebruary 2024 with two additional five year renewaloptions.
Built in 2008, the facility is located at 1340 EmpireCentral Dr., about 2.5 miles from UT Southwestern Medical Centerand Parkland Memorial Hospital. The two large hospitals serve asthe facility’s primary referral source.
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