Press Release Details

Sila Realty Trust, Inc. Completes Acquisition of Brownsburg Inpatient Rehabilitation Facility for $39.0 Million

February 29, 2024

TAMPA, Fla.--(BUSINESS WIRE)-- Sila Realty Trust, Inc. (the “Company”), a net lease real estate investment trust focused on investing in high quality healthcare properties across the continuum of care, today announced the acquisition of an inpatient rehabilitation facility located in Brownsburg, Indiana (the “Brownsburg Healthcare Facility”), for $39.0 million. The Company acquired the property from Capital Growth Medvest.

The Brownsburg Healthcare Facility is 100% leased to Community Health Network Rehabilitation Hospital West, a joint venture between Community Health Network (“CHN”), and Lifepoint Rehabilitation, a business unit of Lifepoint Health (“Lifepoint”). CHN is a non-profit health system with more than 200 sites of care and facilities throughout central Indiana, including six acute care hospitals totaling approximately 1,150 beds. Lifepoint is a leading national healthcare provider with 62 community hospitals and over 30 rehabilitation and behavioral health facilities across 29 states.

The recently constructed facility began accepting patients in May 2023, and serves as the third inpatient rehabilitation facility operated by the joint venture partners in the greater Indianapolis area, joining Community Rehabilitation Hospital South, which is also owned by the Company, and Community Rehabilitation Hospital North.

The Brownsburg Healthcare Facility is an approximately 56,000 square foot, 40-bed, free-standing inpatient rehabilitation facility focusing on acute rehabilitation and recovery for patients who suffer from stroke, traumatic brain injury, spinal cord injury, complex neurological disorders, orthopedic conditions, multiple traumas, amputation, and other injuries. The two-story building is situated on 12.2 acres and is well located, positioned approximately 15 miles northwest of the Indianapolis central business district.

“We are pleased to announce the addition of the Brownsburg Healthcare Facility to our portfolio, adding strong tenancy in a newly designed and developed Class A healthcare facility,” stated Michael A. Seton, President and Chief Executive Officer of the Company. “The Brownsburg Healthcare Facility’s joint venture operations have a proven track record of success in the greater Indianapolis market, where this new facility will help address the growing need for inpatient rehabilitation services throughout the region. We believe the Brownsburg Healthcare Facility exhibits the characteristics and local market affiliations that illustrate our strategy of acquiring high quality healthcare facilities and creating a robust portfolio built for long term success.”

About Sila Realty Trust, Inc.

Sila Realty Trust, Inc. is a net lease real estate investment trust headquartered in Tampa, Florida, with a strategic focus on investing in the significant, growing, and resilient healthcare sector of the U.S. economy. The Company invests in high quality healthcare facilities along the continuum of care, which, we believe, generate predictable, durable, and growing income streams. Our portfolio is comprised of high quality tenants in geographically diverse facilities which are positioned to capitalize on the dynamic delivery of healthcare to patients. As of September 30, 2023, the Company owned 132 real estate properties and two undeveloped land parcels located in 58 markets across the U.S.

Forward-Looking Statements

Certain statements contained herein, other than historical fact, may be considered “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and are intended to be covered by the safe harbor provided by the same. These statements are based on management’s current expectations and beliefs and are subject to a number of trends and uncertainties. No forward-looking statement is intended to, nor shall it, serve as a guarantee of future performance. You can identify the forward-looking statements by the use of words such as “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “outlook,” “plan,” “potential,” “predict,” “project,” “seek,” “should,” “will” and other similar terms and phrases, including references to the Company’s acquisition and growth strategies, expectations relating to the Brownsburg Healthcare Facility and the growing need for inpatient rehabilitation services in the greater Indianapolis area. Forward-looking statements are subject to various risks and uncertainties and factors that could cause actual results to differ materially from the Company's expectations, and you should not rely on forward-looking statements since they involve known and unknown risks, uncertainties and other factors, which are, in some cases, beyond the Company's control and could materially affect the Company's results of operations, financial condition, cash flows, performance or future achievements or events. Additional factors include those described under the section entitled Item 1A. "Risk Factors" of Part I of the Company's 2022 Annual Report on Form 10-K with the SEC, copies of which are available at www.sec.gov. The Company undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise, except as required by law.

Miles Callahan, Senior Vice President of Capital Markets and Investor Relations
833-404-4107
IR@silarealtytrust.com

Source: Sila Realty Trust, Inc.

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