Tustin Rehabilitation Represents Rare Healthcare Asset

Tustin Rehabilitation Hospital, a 73,180-square-foot medical facility comprising two buildings in Tustin, recently sold for $18 million. Located at 14851 Yorba St. and 165 N. Myrtle Ave., the asset consists of a single-story 17,180-square-foot skilled nursing facility which is currently vacant, and a two-story 56,000-square-foot 48-bed inpatient rehabilitation facility which will become vacant by year-end.

Currently the only freestanding facility of its kind in Orange County, the property sold to an undisclosed healthcare investor/operator. The buyer’s intentions for the property are confidential at this time.

The seller was an affiliate of Ventas, a healthcare REIT. The seller was represented by Travis Ives and Gino Lollio of Cushman & Wakefield.

“Tustin Rehabilitation Hospital presented a rare opportunity to acquire a unique asset with distinct features that appeal to healthcare operators in particular. Our experience selling similar assets across the country guided our process to target the highest and best use for the property and procure the best possible buyer for our client,” said Ives. “Orange County continues to grow as a highly desirable coastal location with world-class lifestyle and entertainment amenities for residents and employers. And as the need for healthcare services and therefore real estate continues to increase across Southern California, this facility is an ideal opportunity in a high barrier-to-entry infill location.”