BOSTON, Jan. 3, 2024 - JLL Capital Markets announced today that it arranged the sale of the Medical Behavioral Hospital of Indianapolis, a 64-bed, 42,609-square-foot inpatient behavioral facility located in the fast-growing Indianapolis metro suburb of Greenwood, Indiana.
JLL worked on behalf of the seller, Medistar, and arranged acquisition financing for the buyer.
Recently constructed in 2022, the facility offers general acute care psychiatric services for a medically complex patient population. It is the second location in Indianapolis NeuroPsychiatric Hospitals (NPH), a provider of inpatient behavioral health services with seven hospitals open today.
The Medical Behavioral Hospital of Indianapolis features 64 beds and is leased under a long-term absolute net lease with 19 years of remaining lease term. The hospital, strategically located along Interstate 65 and in close proximity to the 209-bed St. Francis Hospital and Health Center, serves as an important strategic expansion for NPH to address the growing demand for behavioral medical care in the Southern Indiana, Kentucky, and Ohio areas.
The JLL Capital Markets team was led by Seniors Managing Director Mindy Berman, Managing Director Brannan Knott and Director Vasili Davos.
"Investor interest in behavioral health is keen as demand for services has grown at a rapid pace," said Berman. The psychiatric care operator's experience with multiple locations along with the property's strong performance and favorable lease terms make it an attractive asset for investors seeking exposure to the behavioral sector within healthcare properties."
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients - whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.
For more news, videos and research resources, please visit JLL's newsroom.
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Jones Lang LaSalle Inc. published this content on 03 January 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 03 January 2024 20:25:09 UTC.
