JLL Capital Markets announced today that it has closed the sale of Methodist Transitional Care Center, a 100-bed, 66-unit, transitional care facility in the Dallas suburb of DeSoto.
JLL represented the seller, Madison Marquette, in the sale to LFI Real Estate. The absolute net lease had just over 13 years of primary term remaining at sale, but there are also two five-year renewal options. The cap rate based on year one rent is 6.8%.
Methodist Transitional Care Center is leased to a joint venture between Methodist Health Systems and HMG Healthcare. The facility is equipped with advanced technologies and specialized resources for patients needing intravenous therapy, physical therapy, speech therapy, occupational therapy, wound care, pulmonary care and many other treatments and services. The center features a large state of the art therapy gym, resident dining area, full bathrooms with showers in all resident rooms, a fully outfitted commercial kitchen and a centrally located administration area with offices, storage and a conference room.
The facility is situated at 109 Methodist Way and is well located to serve discharges from the four Methodist Health Systems hospitals within 15 miles of the property. Developed by Madison Marquette in 2020, the facility is licensed as a skilled nursing facility and is Medicare certified.
The JLL Capital Markets team representing the seller was led by Managing Directors Charles Bissell and Evan Kovac.