U.S. markets closed

New Era Partners Expands its Premier Healthcare Facility Portfolio

GRAPEVINE, Texas, March 3, 2020 /PRNewswire/ -- New Era Partners today announced the acquisition of a hospital with attached medical office in Louisiana and the development of multiple healthcare assets in Texas and Indiana. These assets include 3 behavioral hospitals that were acquired or developed for Oceans Healthcare, based in Plano, Texas. They also include the commencement and development of inpatient rehabilitation hospitals for Nobis Rehabilitation Partners, based in Allen, Texas. These healthcare facilities were developed to meet the growing need for behavioral and mental healthcare services as well as post-acute rehabilitation services in a free-standing hospital setting.

Louisiana:

1. Oceans Behavioral Hospital – Hammond

Oceans Healthcare, a nationally recognized provider of behavioral health services, announced the expansion of its Louisiana behavioral health services with the completion of construction of its new hospital in Hammond. The 32- bed Oceans Behavioral Hospital Hammond will provide inpatient and outpatient mental health treatment options for geriatric patients located along the North Shore of Lake Pontchartrain in the greater New Orleans market.

2. Oceans Behavioral Hospital – Baton Rouge

Working in partnership with the Parish of East Baton Rouge, Mayors Office, Baton Rouge Area Chamber, and Oceans Healthcare, New Era Partners acquired the former surgical hospital and Medical Office Building located in North Baton Rouge that has been closed since 2016. The acquisition and capital investment by New Era Partners on behalf of Oceans Healthcare will convert the surgical hospital into a 40-bed behavioral hospital that will become a center of excellence for geriatric mental and behavioral healthcare in the greater Baton Rouge market. In addition, the Medical Office Building will be utilized for outpatient behavioral services and include local providers in the North Baton Rouge community. Anticipated completion of the hospital conversion is January 2021. Providers in the community will begin to access the Medical Office Building by April 2020.

Texas:

3. Oceans Behavioral Hospital – Waco

Oceans Healthcare, a nationally recognized provider of behavioral health services, announced the expansion of its Texas behavioral health services with the completion of construction of its new hospital in Waco. The 48-bed Oceans Behavioral Hospital Waco will provide inpatient and outpatient mental health treatment options for adult and geriatric patients located in the Waco and Central Texas community.

Oceans Healthcare is a nationally recognized provider of behavioral health services, that treat patients experiencing symptoms of depression, anxiety, schizophrenia, behavioral changes related to medication management or substance abuse and other behavioral issues.

Through inpatient behavioral services and intensive outpatient programs, Oceans Healthcare offers comprehensive behavioral and mental health services to help patients at every stage of the healing process. Learn more at oceanshealthcare.com

Indiana:

4. Indianapolis Rehabilitation Hospital – Carmel

WB Development Partners and New Era Companies purchased five acres at 1260 City Center Drive in Carmel, Indiana to construct a 46,395-square-foot inpatient rehabilitation hospital.

WB Development Partners and New Era Companies are partnering to develop the custom, state-of-the-art 40 bed facility, which is projected to open in the 4th quarter of 2020 as the Indianapolis Rehabilitation Hospital. The facility will be managed by Nobis Rehabilitation Partners.

The hospital will offer intensive inpatient rehabilitation services using an interdisciplinary team approach for patients with complex medical, nursing, and rehabilitative needs.

Indianapolis Rehabilitation Hospital is one of many inpatient rehabilitation facilities WB Development Partners, New Era Companies and Nobis Rehabilitation Partners plans to develop in the near future to serve patient needs across the country.

Nobis Rehabilitation Partners brings together hospitals, developers, and investment partners to develop, operate, and manage inpatient rehabilitation facilities ("IRFs") throughout the United States. With vast experience developing IRFs across the country, the Nobis team has refined both the physical design and operational functionality of the hospital; ultimately streamlining outcomes and profitability. Learn more at nobisrehabilitationpartners.com

Irving, Texas based WB Development Partners is a leading full-service real estate development firm, providing high quality service and project management for a variety of development needs across multiple industries. WB's team will work with you every step of the way to understand your development needs and goals. Through land acquisition, permitting, design and construction we are with you from conception to final completion of your project. The WB team has developed over $2 billion of commercial projects over the course of their careers. Learn more at wbdevpartners.com

About New Era Partners

New Era Partners is a commercial real estate development and capital investment company under the umbrella of New Era Companies. New Era has a strong track record of successful, high-quality medical developments and strategic acquisitions that enhance the communities in which they are located. New Era's strategic approach and seasoned management team delivers consistent results for our investors, clients and tenants. New Era brings a wide range of experience and a flexible development approach and investment structure to each project. New Era works with healthcare systems, cities, large medical groups and healthcare providers to provide the right solution for on and off campus medical office buildings, post-acute hospitals, neighborhood health facilities, surgery centers, cancer centers and imaging centers. When appropriate, and synergistic, New Era will also work to integrate hospitality, retail, restaurant, multi-family and shared parking solutions into a project in order to meet the needs of our clients.

For more information, visit www.neweracompanies.com  

Cision

View original content:http://www.prnewswire.com/news-releases/new-era-partners-expands-its-premier-healthcare-facility-portfolio-301015762.html

SOURCE New Era Partners