The Sanders Trust (TST) of Birmingham, Ala., has announced that it’s started
construction on a $12 million, 60,000-square-foot medical office building on
the campus of Porter hospital’s new facility at the northwest intersection
of U.S. Highway 6 and Ind. 49 in Liberty Township.
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 by Porter’s owner, Community Health
Systems of Franklin, Tenn. Both projects are being managed by
Birmingham-based contractor Robins & Morton, with the 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,” TST Senior Vice President Steve Hewett said. “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.
“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,” TST said. “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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