IRVINE, CA-Sabra Health Care REIT, Inc., has spent more than $230 million and earmarked another $66 million for an investment in three Texas medical facilities operated by Forest Park Medical Center.
On Tuesday Sabra purchased Forest Park Medical Center - Frisco, a 54-bed acute care hospital located in Frisco, Texas for $119.8 million. This acute care hospital contains 30 inpatient rooms, 14 family suites, 10 ICU beds and 12 operating rooms.
At the same time, Sabra also entered into a $110.0 million mortgage loan secured by Forest Park Medical Center - Dallas, an 84-bed acute care hospital. The loan has a three-year term, bears interest at a fixed rate of 8.0%. Sabre also has an option to purchase the facility securing the Forest Park - Dallas Mortgage Loan for up to $168.0 million.
At the end of Septermber, Sabra entered into an agreement to provide up to $66.8 million of construction financing to FPMC Fort Worth Realty Partners, LP for the construction of a 54-bed acute care hospital in Fort Worth.
“Sabra's investment in the Forest Park portfolio marks an important shift in our company's profile,” said Rick Matros, Sabra's CEO and chairman.
Matros added that Forest Park Medical Center is a physician-owned, physician-run hospital system “with a vested interest in providing patients unsurpassed surgical specialty care in a five-star hotel-like setting.”
He also noted that all Forest Park facilities are certified by the U.S. Green Building Council's Leadership in Energy and Environmental Design (LEED) program standards.
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