MedProperties Fund III has acquired the 42-bed, 57,000-square-foot PAM Inpatient Rehab Facility in Fargo, ND for an undisclosed sum. The fund is sponsored by Dallas-based private equity firm MedProperties Realty Advisors, LLC.
The Fargo facility is 100% leased on an absolute net basis for 18 years to Camp Hill, PA-based Post Acute Medical (PAM), an experienced operator of inpatient rehab facilities. This is MedProperties’ third transaction involving a PAM property.
“This property is strategic for the tenant and will be a reliable source of cash flows for our investors,” said MedProperties managing principal Darryl Freling. “It is the only inpatient rehab facility in the state, so it draws from a broad market that includes all of North Dakota as well as portions of Minnesota and South Dakota.”
Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism.
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