Bloomington Regional Rehabilitation Hospital

Bloomington Regional Rehabilitation Hospital

N Lintel Dr
Bloomington, IN 47404

Indiana University Health entered into an affiliation agreement with Ernest Health to transfer care of rehabilitation patients to Bloomington Regional Rehabilitation Hospital, a new, best-in-class rehabilitation hospital. IU Health will be shutting down their existing hospital rehabilitation floors and referring/transferring patients. GLC was selected as the partner developer/landlord following the success of the Rehabilitation Hospital of Northern Indiana in Mishawaka, Indiana, completed in March 2020. 

 

Investment Structure
Total Equity $6.9MM
Projected Return 8-10% COC without a disposition
Completed Project Summary
Total Project Costs $23MM
Rent Constant 8.25% 
Segment Medical
Building Size 45,965 sf
Year 1 Rent PSF $41.28 
Demographics-Bloomington (within 10 mi radius)
Ppulation 145,000
Median Household Income $47,000
Median Home Value $185,500
Project Timeline
Land Acquisition November 2020
Break Ground November 2020
Construction Complete November 2021
Facility in Operation January 2022

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