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