JLL Capital Markets led the sales efforts for the 42-bed facility, which is the only freestanding IRF operating in North Dakota
News release
21 November 2024
42-bed PAM Health Rehabilitation Hospital sells in Fargo, North Dakota
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DENVER, Nov. 21, 2024 – JLL Capital Markets announced today that it has completed the sale of PAM Health Rehabilitation Hospital of Fargo, an inpatient rehabilitation hospital (“IRF”) with 42 beds in Fargo, North Dakota.
JLL represented the seller, MedProperties Realty Advisors, LLC, and procured the institutional buyer.
PAM Health Rehabilitation Hospital of Fargo is located at 4671 38th St. South directly adjacent to Interstate 29 and approximately eight miles southwest of downtown Fargo. Fargo is a growing city of more than a quarter of a million residents, with healthcare being a driving industry in the local economy. The facility is the only freestanding IRF in North Dakota and is close to the Sanford Medical Center Fargo and Altru Hospital, providing a strong and steady referral base.
Completed in 2018, the property totals 57,000 square feet and offers 42 private rooms across two floors. The IRF, operated by PAM Health, is equipped with the latest rehabilitation equipment to assist patients in recovering from acute illnesses and injuries.
The JLL Capital Markets Healthcare team representing the seller was led by Director CJ Kodani.
“This offering provided a rare opportunity to acquire a state-of-the-art, well-performing facility with a national operator and a distinct advantage as the only freestanding IRF in all of North Dakota,” said Kodani.
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.
For more news, videos and research resources, please visit JLL’s newsroom.
About JLL
For over 200 years, JLL (NYSE: JLL), a leading global commercial real estate and investment management company, has helped clients buy, build, occupy, manage and invest in a variety of commercial, industrial, hotel, residential and retail properties. A Fortune 500® company with annual revenue of $20.8 billion and operations in over 80 countries around the world, our more than 111,000 employees bring the power of a global platform combined with local expertise. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAYSM. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
About MedProperties Realty Advisors, LLC
MedProperties is a private equity firm focused exclusively on investing in healthcare real estate headquartered in Dallas, Texas. To learn more, please visit: medpropertieslp.com.