CVMC REIT II Acquires Webster Rehabilitation Hospital

WEBSTER, Texas — Carter Validus Mission Critical REIT II Inc. (CVMC REIT II) announced on June 5 that it acquired the Post Acute Webster Rehabilitation Hospital property (the “Webster Rehabilitation Hospital”) from Medistar Corporation, a medical real estate developer based in Houston.

The Webster Rehabilitation Hospital is a newly built, 45-bed inpatient rehabilitation facility located in Webster that measures approximately 53,513 square feet in net rentable area and provides physical, psychological, social and vocational rehabilitation services for patients. The Webster Rehabilitation Hospital is completely leased to Clear Lake Institute for Rehabilitation, LLC, a newly formed operating subsidiary of Post-Acute Medical (PAM).

Led by principal, president and chief executive officer Anthony F. Misitano, PAM provides health and patient services nationwide for long-term acute care, inpatient rehabilitation, outpatient rehabilitation, residential brain injury and comprehensive wound care. An affiliate of Vibra Healthcare, LLC, PAM currently operates 18 in-patient facilities and 10 out-patient facilities in Texas and Louisiana.

In addition to comprehensive inpatient and outpatient physical therapies, the Webster Rehabilitation Hospital features a specially designed unit for the treatment needs of individuals who have suffered traumatic brain injury, stroke or neurodegenerative disorders, such as Parkinson’s disease.

“Integral to all facets of our operations is strong physician leadership, which drives quality in all aspects of patient care,” Anthony F. Misitano said in a statement.

“The Webster Rehabilitation Hospital is a newly constructed, state-of-the-art private bed rehabilitation facility,” added Michael Seton, president of CVMC REIT II, in a statement. “We are happy to partner with Medistar on the acquisition of another leading-edge health care property.”

John Carter, chief executive officer of CVMC REIT II said in a statement, “We are pleased with this exceptional addition to our portfolio and the value we believe it brings our investors.”

“The Webster Rehabilitation Hospital continues Medistar’s longstanding partnerships with Carter Validus and PAM, as well as our steadfast commitment to the health of our neighbors in the Webster-Clear Lake Area. With the opening of Webster Rehabilitation Hospital, the best and most modern resources are available to PAM to deliver unparalleled levels of post-acute care and service,” said Monzer Hourani, founder and chief executive officer of Medistar Corporation, in a statement.

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