TAMPA, Fla.– Sila Realty Trust, Inc. (the “Company”), a public, non-traded real estate investment trust focused on investing in high quality healthcare properties along the continuum of care, today announced the acquisition of an inpatient rehabilitation facility (the “TGH Rehabilitation Hospital” or “Tampa IRF”) located in Tampa, Florida, for a contract purchase price of $51.2 million, excluding acquisition costs.
The TGH Rehabilitation Hospital is 100% leased to Tampa Rehabilitation Hospital, LLC, a joint venture between Tampa General Hospital (“TGH”) and Kindred Rehabilitation Services (“Kindred”). The newly constructed facility began accepting patients in May 2022 and offers services including physiatry, physical and occupational therapy, speech-language pathology, rehabilitation nursing, internal medicine, medical and surgical subspecialty consultation, and nutritional services for patients recovering from debilitating injuries, illnesses, surgeries, and chronic medical conditions. The state-of-the-art facility is a freestanding, newly constructed, 80-bed inpatient rehabilitation facility situated on 3.8 acres less than two miles from downtown Tampa and encompasses nearly 88,000 rentable square feet.
TGH is one of the largest hospitals in the nation and is the region’s only center for Level I trauma. In addition, TGH’s rehabilitation services are ranked among the top 50 in the nation by U.S. News and World Report’s 2021-2022 Best Hospitals.
Kindred, a business unit of LifePoint Health, is a partner of choice for many leading hospital systems in the creation of joint venture rehabilitation operations. Kindred currently has 30 standalone inpatient rehabilitation facilities across 18 states, inclusive of the TGH Rehabilitation Hospital.
“The acquisition of the TGH Rehabilitation Hospital is an exceptional opportunity to strengthen our healthcare portfolio right in our own backyard, as the property is located less than two miles from the corporate office of Sila Realty Trust. The facility was build-to-suit for the TGH and Kindred partnership, and the tenancy, location and construction exemplify, we believe, our strategy of acquiring institutional quality healthcare assets across the continuum of care,” commented Michael A. Seton, President and Chief Executive Officer of the Company. “The strong presence and reputation of TGH serving the Tampa Bay community is well known and we are excited to watch the impact on this facility of Kindred’s proven expertise in rehabilitation operations.”
The TGH Rehabilitation Hospital is the first completed building of several that is expected to comprise one end of the emerging Tampa Medical and Research District. This medical district begins in downtown Tampa and encompasses the TGH Rehabilitation Hospital, which is scheduled to ultimately be accompanied by a freestanding behavioral health hospital and TGH emergency room. The construction of these medical facilities is central to establishing the Tampa Medical and Research District as one of the premier locations for health care and innovation across the state of Florida. (IANS)
