Hospice Care Facility Changes Hands in Naperville
- Aug 27, 2015
By Ioana Neamt, Associate Editor
The Boulder Group arranged the sale of a net leased inpatient hospice and palliative care facility in Naperville, Ill.
The single-tenant Seasons Inpatient Hospice facility at 2195 W. Diehl Road sold for $5.3 million to a 1031 exchange investor from California. Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller in the transaction—a private real estate corporation.
The 10,342-square-foot facility was recently built and has more than seven years remaining on a lease that expires in January 2023. The lease features annual rental escalations and no landlord responsibilities.
“Properties featuring annual rental escalations continue to be highly sought after amongst the investor community as they provide an inflationary hedge,” said Randy Blankstein, president of The Boulder Group.
“We are seeing many investors turn their attention to medical properties as they are highly resistant to e-commerce,” added Goodman, partner at The Boulder Group.
Seasons Inpatient Hospice is the fourth largest hospice company in the U.S. The Naperville location received the last issued license in Illinois for an inpatient hospice facility in an area with a population of 200,000 to 700,000.
Image courtesy of The Boulder Group