Clear Lake Area of Houston: Tampa Firm Buys New Rehab Hospital

In Webster, Texas, Tampa-based Carter Validus Mission Critical REIT II has purchased the Post Acute Webster Rehabilitation Hospital, on the southeast side of Houston, from Medistar Corp.

The two-story Webster Rehabilitation Hospital is a newly built, 45-bed inpatient rehabilitation facility with 53,513 sq ft.

Providing physical, psychological, social and vocational rehabilitation services for patients, hospital is 100% leased to Clear Lake Institute for Rehabilitation, LLC, a newly formed operating subsidiary of Post-Acute Medical, LLC .

Long-time Texas medical building developer Monzer Hourani is founder and Chief Executive Officer of Medistar Corp.

“The Webster Rehabilitation Hospital is a newly constructed, state-of-the-art private bed rehabilitation facility,” said Michael Seton, President of CVMC REIT II. “We are happy to partner with Medistar on the purchase of another leading-edge healthcare property.” John Carter, Chief Executive Officer of CVMC REIT II, added, “We are pleased with this exceptional addition to our portfolio and the value we believe it brings our investors.”

Cobalt Medical Development co-developed the real estate with Medistar and is co-owner of the operations with Post Acute Medical.