Webster Bank Healthcare Provides Development Capital for Anchor Health Properties

Webster Bank Healthcare underwrote $30,600,000 and helped arrange and underwrite $58,400,000 in construction and mini-permanent debt financing for Anchor Health Properties in support of the ground-up development of two Inpatient Rehabilitation Facilities (IRF) – a 61,000 square foot, 52 bed IRF in Apex, North Carolina and a 100,000 square foot, 62 bed IRF in Miami, Florida.

These newly developed IRFs further underscore Anchor’s comprehensive expertise and institutional capabilities in developing specialty inpatient rehabilitation hospitals. The IRFs will be operated and leased by innovative partnerships between a leading inpatient rehab hospital operator and dominant high-caliber health systems in North Carolina and South Florida.

Charlottesville, Virginia based Anchor Health Properties owns more than 120 healthcare facilities and manages over 150 facilities totaling 9.0 million square feet nationally and has a distinguished history of successfully completing over $2.0 billion of development projects totaling more than 4.0 million square feet.

Albert Lord, Director of Development Finance of Anchor Health Properties, noted that, “In an environment with constrained development capital, Webster Healthcare’s industry expertise and collaboration allowed us to craft innovative structures that achieved the investment objectives of all interested parties.”

“Webster is pleased to have had an opportunity to partner with Anchor Health Properties on these important transactions and we look forward to broadening our partnership in financing specialty healthcare facilities. These transactions are examples of Webster Healthcare’s commitment to the acute care market and a strategic capital resource to expand access to high-quality critically needed sub-acute care services for health systems,“ said Steven Dowe, Senior Managing Director and Head of Healthcare CRE and Middle Market Banking at Webster Bank.