Sanders Trust Starts $12M MOB
Thursday, August 18, 2011 - admin
. – The Sanders Trust (TST) today announced it has started construction on a $12 million, 60,000-square-foot medical office building in Valparaiso, IN. The medical office building is on the campus of Community Health System’s Porter Hospital.
The medical office building is scheduled for completion in late 2012 to coincide with the grand-opening of the new Porter Hospital, a replacement facility currently under construction. Both projects are managed by Birmingham-based contractor Robins & Morton, with architectural firm Gresham, Smith and Partners. The new medical office building will house several Porter Hospital departments as well as physician groups supporting the hospital.
“TST is pleased to announce that we have successfully completed a syndication of this building at the request of Community Health System management,” said TST Senior Vice President Steve Hewett. “Through this syndication, TST will retain majority ownership of the medical office building and Porter Hospital physicians will benefit through direct ownership as well.”
“This development furthers TST’s strategy of adding $100 million this year to its portfolio by acquiring and developing medical office buildings, inpatient rehabilitation hospitals, long-term acute care hospitals and ambulatory surgery centers,” Hewett said.
ABOUT THE SANDERS TRUST
With its headquarters in Birmingham, Ala., The Sanders Trust has been a recognized leader in the investment community for healthcare clients since its inception in 1989 and has developed or acquired more than 50 medical properties in 16 states, a portfolio worth more than $500 million in value. The company’s investment strategy has been affirmed by a recent article in National Real Estate Investor Magazine, which characterized healthcare real estate as the new “recession proof” property holding.
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