Berkadia closed the equity placement and financing for the development of Vibra Hospital of the Central Dakotas, a 50-bed inpatient rehabilitation facility (IRF) and long-term acute care hospital (LTACH) in Bismarck, North Dakota.
The build-to-suit facility will be fully leased to Vibra Hospital of the Central Dakotas.
Senior Managing Director and Head of Medical & Life Sciences Sabrina Solomiany, together with Managing Directors Vasili Davos, Chris Lashmet, and Eric Lee of Berkadia Medical & Life Sciences, partnered with Gordon Reynolds, Conner Adkins and Brian Myers of Berkadia Strategic Capital to lead the equity placement on behalf of Birmingham, Alabama-based Development Solutions.
Development financing was secured through First Horizon Bank. Managing Director Mike Rogers of Berkadia Medical & Life Sciences led the financing effort on behalf of Development Solutions.
The new facility will serve as a centrally located replacement hospital for the existing 41-bed Vibra LTACH and will bring a much-needed IRF to the Bismarck market. The property will feature 100% private rooms, and its central location will enhance patient access and support high-quality care.
