MedEquities Realty Trust Purchases an Inpatient Rehabilitation Hospital to be Operated by Vibra Healthcare for $23.4 Million

NASHVILLE, Tenn., June 28, 2018 /PRNewswire/ -- MedEquities Realty Trust, Inc. (NYSE: MRT) announced that it has acquired Southern Indiana Rehabilitation Hospital, a 60-bed inpatient rehabilitation facility (IRF) located in the Louisville, Kentucky suburb of New Albany, Indiana, for $23.4 million. The Company concurrently executed a 15-year triple-net lease of the IRF with Vibra Rehabilitation Hospital of Southern Indiana, LLC, an affiliate of Vibra Healthcare, LLC ("Vibra"), at an initial lease rate of 9.0% with annual escalators. Vibra will convert the 26 beds currently in use as skilled nursing in order to operate the entire 64,380 square-foot facility as an IRF, which is the original design of the facility.

John McRoberts, Chief Executive Officer and Chairman of MedEquities, noted "Vibra is a proven operator, and their facilities have been strong contributors to our portfolio. We are pleased to grow our relationship with them and continue our disciplined pursuit of new opportunities in the inpatient rehabilitation hospital space."

About MedEquities Realty Trust

MedEquities Realty Trust (NYSE: MRT) is a self-managed and self-administered real estate investment trust that invests in a diversified mix of healthcare properties and healthcare-related real estate debt investments. The Company's management team has extensive industry experience in acquiring, owning, developing, financing, operating, leasing and monetizing many types of healthcare properties and portfolios. MedEquities' strategy is to become an integral capital partner with high-quality and growth-oriented facility-based providers of healthcare services on a nationwide basis, primarily through net-leased real estate investment. For more information, please visit www.medequities.com.

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SOURCE MedEquities Realty Trust, Inc.

Related Links

http://www.medequities.com