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Alabama-based Sanders Trust acquired three Texas medical facilities for $115.5M. The three facilities, in Austin, Dallas and Conroe, are inpatient rehabilitation hospitals operated by affiliates of Birmingham's HealthSouth. Together, they total 192k SF. The Austin location includes 75 licensed beds, Dallas has 50 and Conroe has 60, reports the Houston Business Journal.
The real estate was sold by Medical Properties Trust in a joint venture with Chicago-based capital partner Harrison Street Real Estate. The deal was brokered by JLL Healthcare Capital Markets on behalf of Medical Properties Trust. Deal financing was provided by First Tennessee Bank, with Iberia Bank, Synovus Bank and Renasant Bank also participating. [HBJ]
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