(205) 298.0809
1000 Urban Center Suite 675
Birmingham, AL 35242


The Sanders Trust has commenced construction on Reliant Norwood Rehabilitation Hospital near Cincinnati, Ohio


Monday | February 23rd, 2015

BIRMINGHAM, Ala. –The Sanders Trust (TST) announced today that it has commenced construction on Reliant Norwood Rehabilitation Hospital near Cincinnati, Ohio. Construction of the 40-bed, $17 million inpatient rehabilitation hospital will take 11 months to complete and is expected to open in February of 2016.

The hospital will be leased to an affiliate of Dallas- based Reliant Hospital Partners (Reliant), a nationally recognized provider of inpatient rehabilitation services.
Norwood Rehabilitation Hospital Cincinnati
“The Sanders Trust is proud to play a role in improving access to rehabilitative services in the Cincinnati area,” said Rance Sanders, CEO of The Sanders Trust. “We also are pleased to work together again with Reliant Hospital Partners, this time to bring Norwood Rehabilitation Hospital to life.” This is the second project between TST and Reliant. TST, with its joint venture capital partner Harrison Street Real Estate Capital, LLC of Chicago, previously collaborated with Reliant on the $90 million acquisition of two prominent Boston-area hospitals: New England and Braintree Rehabilitation Hospitals.

Reliant Norwood Rehabilitation Hospital will be located just off of Highway 562 near Reading Road. Its state-of-the-art design provides for efficient, compassionate patient care, incorporating the most sophisticated technologies. Services provided will include nursing care, physical therapy, occupational therapy, speech pathology and other services related to post-acute patients for whom the average stay is approximately 13 days.

The Dallas office of Perkins & Will is providing architectural services and Robins & Morton of Birmingham, Ala. will serve as general contractor for the project. Cincinnati’s JLL assisted in site selection and Synovus Bank in Birmingham is providing financing.

The Reliant Norwood Rehabilitation Hospital site is part of Central Pointe on the Lateral, a 10-acre multi-purpose campus being developed by Neyer Properties. Central Pointe is the latest in a trend of redevelopment projects occurring along the Highway 562 corridor, including Linden Pointe, Paycor’s new headquarters, The Urology Group and Mercy Health’s new headquarters.

“Reliant Norwood Rehabilitation Hospital furthers The Sanders Trust’s strategy of adding between $100 and $200 million annually to its portfolio by acquiring and developing medical office buildings, inpatient rehabilitation hospitals and specialty hospitals,” added Sanders.


ABOUT THE SANDERS TRUST:
The Sanders Trust develops and acquires medical office buildings, inpatient rehabilitation hospitals and specialty hospitals nationwide. Headquartered in Birmingham, Alabama, 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 properties in 22 states valued over $1 Billion.
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The Sanders Trust
1000 Urban Center Drive | Suite 675
Birmingham, Alabama 35242
USA |
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Phone: 800-565-2585
Fax: 205-298-0810
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