Stirling Properties Acquires $59.7M Rehab Hospital In Joint Venture With Ochsner
Stirling Properties, in a joint venture partnership with Ochsner Clinic Foundation, has closed on the acquisition of the new Ochsner rehabilitation hospital located at 2614 Jefferson Highway in Jefferson, Louisiana.
This new addition to Ochsner’s Main Campus West is a five-story, 129,875-square-foot medical building. It will house three separate high-demand healthcare components, including Long Term Acute Care, Inpatient Rehabilitation, and a Skilled Nursing Facility. Ochsner will be the primary operator in the new building, along with Select Medical and LHC Group.
Construction started on the development in early 2017, and building and site work is now complete. The facility plans to open by the 2nd quarter of 2018.
The total project cost was $59,775,000. IBERIABANK provided the debt financing.
This acquisition further solidifies Stirling Properties’ commitment to growth in the Gulf South region and our diversification into the healthcare real estate sector. We have recently partnered with some of our region’s top medical providers on a diverse range of projects.
Our company’s ability to provide a full continuum of services, including development & redevelopment, commercial brokerage, acquisition & investment, and asset management services uniquely positions us in the rapidly expanding healthcare industry. We will continue to grow our portfolio and garner a wealth of experience with a wide array of healthcare properties, designs, and uses.
To learn more about Stirling Properties’ Healthcare Real Estate Portfolio, click here or visit stirlingprop.com.
