In July 2025, partnerships between MedCore Partners and International Capital successfully closed on a $80M+ portfolio, made up by a development loan of a new 36-bed, inpatient rehab facility (IRF) in Beloit, WI, approx. an hour each from Chicago, IL, Milwaukee, WI or Madison, WI, plus a recapitalization of two (2) existing 36-bed, inpatient rehab facility (IRF) in Mansfield, TX and Waxahachie, TX, both growing suburbs of Dallas/Ft. Worth.
Both existing IRFs in Dallas/Ft. Worth were developed in 2023 by MedCore Partners and are 100% leased to ClearSky Health, a leader of rehabilitative care throughout the US. Each absolute NNN lease has approx. 14 YRS remaining with annual rent increases, providing strong, immediate cash flow. International Capital, LLC was able to recapitalize the existing limited partner at an attractive cap rate with MedCore remaining in each project as general partner.
The new development in Beloit, WI is expected to start construction imminently and will be 100% leased to ClearSky Health. The tenant has signed a new, 17-YR absolute NNN lease with annual increases. The project will be located adjacent to Beloit Memorial Hospital.
Pinnacle Bank is providing construction financing for Beloit, WI project with First Horizon Bank as the permanent lender on both existing facilities in Dallas/Ft. Worth.
“We are thrilled to close this portfolio in partnership with MedCore Partners having closed our first IRF JV in Q4 2025 with MCP. This IRF investment provides immediate cash flow while providing a strong development yield. The IRF space continues to be an attractive healthcare subsector alongside quality operators such as ClearSky Health. We look forward to continue scaling our healthcare investments within the IRF sector and other high-margin areas with strong operators.”
- Andrew Doster, Vice President, Investments
ABOUT INTERNATIONAL CAPITAL, LLC
International Capital, LLC is a boutique real estate advisory firm with over 45 years’ experience representing more than 100 legal entities in its capacity as asset and property manager with approx. $1.4 billion AUM. Offering a wide range of commercial real estate services, specialties include the acquisition, disposition, management, and administration of commercial investment properties. Land and property development, funds conception, equity financing and cash management are also integral parts of the company’s portfolio.
ABOUT MEDCORE PARTNERS
MedCore Partners is a Dallas-based commercial real estate company that focuses solely on the healthcare and senior living industries. MedCore’s primary services involve healthcare development, brokerage services, and asset management. With a team of over 200 years of healthcare experience combined, MedCore has developed or acquired over $1 billion of healthcare-related assets and served over 2,000 physicians. The company uses data and predictive analytics that benefit their clients in proactively searching locations for healthcare facilities.
