Thank you for sharing!

Your article was successfully shared with the contacts you provided.

INDIANAPOLIS-Windrose Medical Properties Trust has purchased three specialty hospitals for a total of $26.2 million. The properties, located in Louisiana, Oklahoma and Texas, were paid in cash through the company’s line of credit with Huntington National Bank.

The assets include: Clearlake Rehabilitation Hospital, a 58,023-sf physical rehabilitation hospital located on six acres in Webster, TX; Lafayette Specialty Hospital, a 53,184-sf long-term, acute-care hospital in Lafayette, LA on 7.4 acres; and the 58,274-sf Northeast Oklahoma Rehabilitation Hospital, a physical rehab hospital is located in Tulsa, OK.

Fred Farrar, Windrose president and COO, tells GlobeSt.com that the medical office asset class has gained wider acceptance by investors in recent years. “It’s a very attractive segment if you understand it,” he says.

With high renewal rates and an increasing need for healthcare facilities, medical assets make for solid, lasting investments. Farrar says that the company is looking at the portfolio as a long-term hold, noting that Windrose has been public for four years, and in that time has sold only one asset.

“If you look at the markets these assets are in, the delivery of service in each of the markets, and that the leases are to a leader in rehabilitation care, you’ll see the types of considerations we look for,” Farrar tells GlobeSt.com. “We’ll continue to hold and monitor these assets, while we hope to expand our business in rehab care.”

Each hospital is subject to a separate long-term master lease to affiliates of St. Louis-based RehabCare Group Inc., a provider of rehabilitation program management services for hospitals, nursing homes and other long-term care facilities. With this acquisition, Windrose now owns 92 medical properties.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?



Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt
Live Chat

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.