A subsidiary of Duke Realty Corporation, advised by Savills Granite, has entered into a joint venture agreement with Grubb & Ellis Healthcare REIT to own a 50-bed rehabilitation centre in suburban St. Louis, Missouri. The property, having a value in excess of $36 million (£18.26 million), was developed by Duke’s health care division and contributed to the joint venture by Duke.

Grubb & Ellis Healthcare REIT has acquired an 80% interest in the joint venture formed to own Chesterfield Rehabilitation Centre in Chesterfield, Missouri. BD St. Louis Development LLC, a subsidiary of Duke, will retain the remaining 20% interest in the joint venture owning the 112,000 sq ft (11,240 sq m) property.

Jeffrey Cooper of Savills Granite comments: "Each day, the investment community takes closer notice of Americans’ increasing demand for first-rate medical care, and because of Savills Granite’s understanding of both capital markets and the healthcare sector itself. Our firm has rapidly emerged as a national leader in capitalizing transactions involving medical facilities."

Situated 22 miles west of St. Louis, Chesterfield Rehabilitation Centre is a three-story, inpatient rehabilitation facility built in June 2007.  Occupying more than seven acres, the facility provides a full range of rehabilitative services in its outpatient physical therapy and brain and spinal cord injury departments.  A two-story, 90,000 sq ft (8,361 sq m) parking garage accommodates 286 vehicles.

The facility is located five miles from the St. Louis area’s second-largest hospital, St. John's Medical Centre, a 979-bed, full-service hospital.  Chesterfield Rehabilitation Centre serves as a replacement facility for a recently closed rehabilitation hospital on the St. John’s Medical Centre campus.  The rehabilitation facility is presently master-leased to St. John's Mercy Rehabilitation, LLC, a joint venture between St. John's Mercy Health System and Centre Healthcare.

A subsidiary of Duke Realty Corporation, advised by Savills Granite, has entered into a joint venture agreement with Grubb & Ellis Healthcare REIT to own a 50-bed rehabilitation centre in suburban St. Louis, Missouri. The property, having a value in excess of $36 million (£18.26 million), was developed by Duke’s health care division and contributed to the joint venture by Duke.

Grubb & Ellis Healthcare REIT has acquired an 80% interest in the joint venture formed to own Chesterfield Rehabilitation Centre in Chesterfield, Missouri. BD St. Louis Development LLC, a subsidiary of Duke, will retain the remaining 20% interest in the joint venture owning the 112,000 sq ft (11,240 sq m) property.

Jeffrey Cooper of Savills Granite comments: "Each day, the investment community takes closer notice of Americans’ increasing demand for first-rate medical care, and because of Savills Granite’s understanding of both capital markets and the healthcare sector itself. Our firm has rapidly emerged as a national leader in capitalizing transactions involving medical facilities."

Situated 22 miles west of St. Louis, Chesterfield Rehabilitation Centre is a three-story, inpatient rehabilitation facility built in June 2007.  Occupying more than seven acres, the facility provides a full range of rehabilitative services in its outpatient physical therapy and brain and spinal cord injury departments.  A two-story, 90,000 sq ft (8,361 sq m) parking garage accommodates 286 vehicles.

The facility is located five miles from the St. Louis area’s second-largest hospital, St. John's Medical Centre, a 979-bed, full-service hospital.  Chesterfield Rehabilitation Centre serves as a replacement facility for a recently closed rehabilitation hospital on the St. John’s Medical Centre campus.  The rehabilitation facility is presently master-leased to St. John's Mercy Rehabilitation, LLC, a joint venture between St. John's Mercy Health System and Centre Healthcare.  

Contact Information
Jeffrey Cooper, Savills Granite
 +1 (1) 212 328 3957

Victoria Cambridge, Savills
+44 20 7409 8940