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December 3, 2023
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Tustin Rehabilitation Hospital Trades for $18 Mil


Tustin Rehabilitation Hospital, a 73.2k sf medical property comprising two buildings in Tustin, was purchased by an unnamed healthcare investor/operator for $18 mil ($246/sf). We’re told it is currently the only freestanding facility of its kind in Orange County.

Located at 14851 Yorba St and 165 N Myrtle Ave, the asset respectively consists of a single-story, 17.2k sf skilled nursing facility (SNF), which is currently vacant, and a two-story, 56k sf, 48-bed inpatient rehabilitation facility (IRF) which will become vacant by the end of this year.

The seller was an affiliate of Ventas, one of the world’s foremost diversified Real Estate Investment Trusts that invests in senior living communities, life science, research & innovation properties, medical office & outpatient facilities and other healthcare real estate. The seller was represented by Travis Ives and Gino Lollio of Cushman & Wakefield’s US Healthcare Capital Markets Team.

“Orange County continues to grow as a highly desirable coastal location with worldclass lifestyle and entertainment amenities for residents and employers,” commented Ives. “And as the need for healthcare services and therefore real estate continues to increase across Southern California, this facility is an ideal opportunity in a high barrier-to-entry, in-fill location.”

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