Houston-based Hicks Ventures announced the $86.8 million sale of a portfolio of three fully-leased inpatient rehabilitation facilities, The Houston Chronicle reports.
Birmingham, Ala.-based Medical Properties Trust purchased Cobalt Rehabilitation Hospital of El Paso and Cobalt Rehabilitation Hospital of Louisville in Clarksville, Ind., while Dallas-based MedProperties purchased the PAM/Cobalt Rehabilitation Hospital of Fargo, N.D.
Hicks Ventures developed the rehabilitation hospitals from 2018 to 2019 after securing 20-year leases. Each hospital has 42 patient beds, including 12 traumatic brain injury centers. Investment banker Hammond Hanlon Camp represented Hicks Ventures in the transactions. Read more.
