{"id":1004192393,"date":"2017-10-03T02:48:13","date_gmt":"2017-10-03T10:48:13","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004192393"},"modified":"2022-12-07T07:23:09","modified_gmt":"2022-12-07T15:23:09","slug":"global-medical-reit-pays-41-to-enter-austin-healthcare-market","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/global-medical-reit-pays-41-to-enter-austin-healthcare-market\/","title":{"rendered":"Global Medical REIT Pays $41 to Enter Austin Healthcare Market"},"content":{"rendered":"<p>By Anca Gagiuc<\/p>\n<p><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/10\/healthcare-news-02.png\" target=\"_blank\" rel=\"noopener noreferrer\"><img decoding=\"async\" data-attachment-id=\"1004192396\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/global-medical-reit-pays-41-to-enter-austin-healthcare-market\/healthcare-news-02\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/10\/healthcare-news-02.png\" data-orig-size=\"800,620\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"healthcare news 02\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/10\/healthcare-news-02.png?w=800\" loading=\"lazy\" class=\"alignright wp-image-1004192396 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/10\/healthcare-news-02.png\" alt=\"healthcare news 02\" width=\"300\" height=\"233\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/10\/healthcare-news-02.png 800w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/10\/healthcare-news-02.png?resize=300,233 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/10\/healthcare-news-02.png?resize=768,595 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a>Maryland-based Global Medical REIT completed the acquisition of the Central Texas Rehabilitation Hospital in Austin, Texas, for roughly $40.6 million. Following the transaction, the company will assume the seller\u2019s interest as lessor.<\/p>\n<p>The 59,000-square-foot facility\u00a0is located at 700 West 45th\u00a0St. The inpatient hospital features 50 beds and is leased to\u00a0CTRH, a joint venture between subsidiaries of Kindred Healthcare and Seton Healthcare.<\/p>\n<p>The lease on the healthcare facility is an absolute triple-net lease\u00a0with roughly 10\u00a0 years remaining. The arrangement is subject to four-, five-year renewal options by the tenant. The current annual rent is approximately $2.9 million, subject to annual increases of approximately 3 percent. In addition, 80 percent of the lease payments are guaranteed by Kindred Healthcare.<\/p>\n<p><em>\u201cWe are excited to enter into the growing Austin, Texas, market and continue our partnerships with strong <a href=\"https:\/\/www.commercialsearch.com\/news\/ventas-exits-snf-business-with-700m-sale\/\">healthcare operators<\/a> such as Kindred Healthcare and Seton Healthcare,\u201d <\/em>Jeffrey Busch, CEO of Global Medical REIT, said in prepared remarks.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The 59,000-square-foot, 50-bed facility is currently leased to a joint venture between subsidiaries of Kindred Healthcare and Seton Healthcare.<\/p>\n","protected":false},"author":237,"featured_media":1004192396,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1578,21784,21743,21754,21742],"tags":[35799,36585,37806],"class_list":["post-1004192393","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-austin","category-brokerage","category-deals","category-medical-office","category-latest","tag-global-medical-reit","tag-kindred-healthcare","tag-seton-healthcare"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - 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