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Harrison Street Buys In Beantown

Harrison Street  Buys In Beantown

Chicago-based Harrison Street and The Sanders Trust of Birmingham, Ala. picked up the Boston area's New England Rehabilitation Hospital and Braintree Rehabilitation Hospital from Senior Housing Properties Trust for $90M. The deal includes a new 15-year lease agreement with Reliant Hospital Partners of Richardson, Texas. Massachusetts is a certificate-of-need state, and the facilities represent two of only three rehab hospitals in the Boston metro, Harrison Street VP Mark Burkemper (snapped with his daughter Bryn) tells us. 166-bed Braintree Rehab and 198-bed New England Rehab account for 5,000 annual discharges. Mark expects healthcare assets to continue to see high institutional demand this year thanks to strong fundamentals and demographic trends.

WASHINGTON DC 04.27.2017

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