June 27, 2017
Mentis Neuro Health sold a 10.6-acre, 18,313-square-foot post-acute-care rehabilitation facility in the Austin suburb of Dripping Springs, TX to STORE Capital, which is headquartered in Scottsdale, AZ. Mentis Neuro Health will lease back 100% of the property from the new owner through a 15-year lease. Financial information was not disclosed.
The property at 3035 W. SH 290 consists of five buildings, including two main resident buildings containing 32 private beds, an administration building, and a therapy and recreational building. JLL’s Rudy Hubbard, Kevin McConn and Rick Goings represented the seller; McConn and Goings also represented Mentis Neuro Health.
“This offering presented investors with an attractive long-term sale-leaseback opportunity, guaranteed by a growing company that is the industry leader in traumatic brain injury rehabilitation,” Goings said. “Situated on more than 10 acres, this property provides Mentis room to grow and expand their operations.”
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