The Sanders Trust Commences Rehabilitation Hospital Project

Birmingham, Ala. – The Sanders Trust, one of the nation's leading healthcare real estate investment companies, announces their latest development project with Mercy Health System of Oklahoma (MHSO) and Centerre Healthcare Corporation.

The $19 million project is for the development of a 50-bed Inpatient Rehabiliation Hospital that will be leased to Mercy Rehabilitation Hospital, LLC in Oklahoma City upon completion in late 2012. Mercy Rehabilitation Hospital is a joint venture between Centerre Healthcare Corporation and MHSO. MHSO is owned by The Sisters of Mercy Health System, one of the largest healthcare services providers in the Midwest.

“This project represents a continuation of our strategy to acquire as well as develop inpatient rehabilitation hospitals,” said Steve B. Hewett, senior vice president at The Sanders Trust. “We are delighted to be partnering with the Centerre and MHSO organizations in the development of this new hospital.”

Architectural work for the new hospital is being managed by the nationally recognized design team at Earl Swensson Associates, Inc., Nashville, Tenn. Construction financing is being provided by Iberia Bank in Birmingham, Ala. The general contractor on the project is J. E Dunn based in Kansas City, MO, one of the leading healthcare general contractors in the U.S.