Sila Realty Trust, Inc., a net lease real estate investment trust (REIT) with a strategic focus on investing in the growing and resilient healthcare sector, announced the $23.5 million acquisition of an inpatient rehabilitation facility located in Dover, Delaware (the Dover Healthcare Facility).
The Dover Healthcare Facility is a 34-bed, inpatient rehabilitation facility offering comprehensive inpatient and outpatient care programs from physical and occupational therapies to speech and cognitive treatments. The approximately 42,000 square foot facility was built in 2019 and is fully leased to a joint venture between Bayhealth Medical Center, Inc., an investment grade rated health system and the second largest health system in the state of Delaware, and a subsidiary of Post Acute Medical, LLC, one of the nation’s largest providers of post-acute healthcare.
The Dover Healthcare Facility is the only inpatient rehabilitation facility in Kent County and one of only four in the state of Delaware. The facility has consistently maintained peak census since its opening and is protected from competition by the state of Delaware’s Certificate of Public Review licensure process, creating a significant barrier to entry.
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