Attached files
| file | filename |
|---|---|
| 8-K - 8-K - Sentio Healthcare Properties Inc | v195160_8k.htm |
| EX-10.1 - EX-10.1 - Sentio Healthcare Properties Inc | v195160_ex10-1.htm |
| EX-10.2 - EX-10.2 - Sentio Healthcare Properties Inc | v195160_ex10-2.htm |
| EX-10.3 - EX-10.3 - Sentio Healthcare Properties Inc | v195160_ex10-3.htm |
Cornerstone
Healthcare Plus REIT
Acquires
$14.75 Million Inpatient Rehab Facility
(Irvine,
CA) August 25, 2010 -
Cornerstone Real Estate
Funds, and its strategic alliance partner and sub-advisor Servant Healthcare Investments,
announced that the Cornerstone
Healthcare Plus REIT has acquired an inpatient rehabilitation facility
(IRF) for a purchase price of $14,750,000. The 42-bed, 40,000 square
foot property is located in Dallas, Texas and is leased under a long-term lease
to GlobalRehab LP.
IRFs
treat patients that are recovering from significant injuries or are suffering
from chronic conditions that have impaired their physical
functioning. They employ a multi-disciplinary approach, combining the
physician, occupational and speech therapy as well as social services and
around-the-clock nursing care.
According
to Servant Healthcare CEO John Mark Ramsey, “over the next couple decades,
health care providers will increasingly treat health conditions associated with
aging – such as strokes, heart attack, neurological disorders and diseases and
injuries to the muscles, bones, and joints – which will increase the demand for
rehabilitative therapy. Older patients are no longer content to suffer reduced
activity following an illness. They want to return to a more active
and productive life as quickly as possible. IRFs have been shown to
be a cost effective treatment that helps to lower the future cost of care by
speeding recovery and delivering rehab services in an efficient
environment. Additionally, surgical and treatment technology is
opening up new and more opportunities to treat conditions that will require
inpatient rehabilitation stays and produce improved outcomes.”
GlobalRehab
is a physician-run IRF operator that oversees IRF facilities throughout
Texas. The company’s vision is to provide comprehensive post-acute
services that encompass a total approach that includes physical, cognitive,
emotional and even spiritual therapies. Their patient-centric approach includes
an interdisciplinary team of clinicians who create individualized care plans
that utilize progressive procedures and breakthrough technologies to attempt to
achieve the highest level of successful patient outcomes possible.
Cornerstone
Real Estate Funds has been helping individuals and institutions invest in real
estate for more than 20 years in both good and bad economic
conditions. The company prides itself on its impressive track record,
8 full-cycle programs, experienced management team and successful joint
ventures. Today, Cornerstone offers a variety of public and private
real estate offerings for individuals and institutions. For more
information, please visit www.CREfunds.com.
Contact
Information:
Robert
Bruce
Cornerstone
Real Estate Funds
Vice
President, Sales & Marketing
949-263-4325
This
release contains forward-looking statements within the meaning of Section 27A of
the Securities Act of 1933 and Section 21E of the Securities Exchange Act of
1934. Such statements involve risk and uncertainties which could cause actual
results to vary materially from those expressed in or indicated by the
forward-looking statements. Factors that may cause actual results to differ
materially include changes in general economic conditions, changes in real
estate conditions, changes in interest rates, lease-up risks, lack of financing
availability and lack of capital proceeds.
Cornerstone
Real Estate Funds is the brand/logo associated with Cornerstone Ventures, Inc.
(CVI). CVI is the sponsor and advisor of real estate investment funds that are
distributed by Pacific Cornerstone Capital, Inc. Servant Investments
and Servant Healthcare Investments are real estate companies that act as
sub-advisors to certain real estate offerings sponsored by CVI. CVI has no
affiliation with the facility mentioned above. Securities are offered through
Pacific Cornerstone Capital, Inc. Member FINRA and SIPC.