
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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N Lintel Dr, Bloomington, IN 47404