Done Deals: JLL Capital Markets represented Medistar in the sale of the 42,000-square-foot Medical Behavioral Hospital of Indianapolis in Greenwood, IN.

Wednesday, January 3, 2024

JLL Capital Markets represented Medistar in the sale of the 42,000-square-foot Medical Behavioral Hospital of Indianapolis in Greenwood, IN.

Medical Behavioral Hospital of Indianapolis, Greenwood, IN

BOSTON, MA, Jan. 3, 2024 –  JLL Capital Markets announced today that it arranged the sale of the Medical Behavioral Hospital of Indianapolis, a 64-bed, 42,609-square-foot inpatient behavioral facility located in the fast-growing Indianapolis metro suburb of Greenwood, Indiana.

JLL worked on behalf of the seller, Medistar, and arranged acquisition financing for the buyer. The price was not disclosed.

Mindy Berman

The JLL Capital Markets team was led by Seniors Managing Director Mindy Berman, Managing Director Brannan Knott and Director Vasili Davos.

"Investor interest in behavioral health is keen as demand for services has grown at a rapid pace,” said Berman. "The psychiatric care operator’s experience with multiple locations along with the property’s strong performance and favorable lease terms make it an attractive asset for investors seeking exposure to the behavioral sector within healthcare properties."

Brannan Knott

Recently constructed in 2022, the facility offers general acute care psychiatric services for a medically complex patient population. It is the second location in Indianapolis NeuroPsychiatric Hospitals (NPH), a provider of inpatient behavioral health services with seven hospitals open today.

The Medical Behavioral Hospital of Indianapolis features 64 beds and is leased under a long-term absolute net lease with 19 years of remaining lease term.

Vasili Davos

The hospital, strategically located along Interstate 65 and in close proximity to the 209-bed St. Francis Hospital and Health Center, serves as an important strategic expansion for NPH to address the growing demand for behavioral medical care in the Southern Indiana, Kentucky, and Ohio areas.

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.

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