MISHAWAKA, IN—Birmingham, Ala.-based Sanders Trust has purchased a 46,000-sq.-ft. rehabilitation hospital here for $17 million.
The 40-bed Saint Joseph Rehabilitation Institute is on the Elm Road Medical Campus, near the Saint JosephMedical Center and South Bend Orthopedics. The medical center is run by Trinity Health, one of the largest health care systems in the country.
“We are very pleased to add the Saint Joseph Rehabilitation Institute to our expanding portfolio of health care real estate assets, especially in an area that is a vital hub forservices for the greater South Bend marketplace,” said Rance Sanders, president and CEO of Sanders. “This acquisition fits perfectly with our strategy of acquiring and developing strategically located healthcare delivery facilities.” His firm has developed or acquired more than 50 medical properties in 17 states.