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Rehab center group building another facility in Colorado Springs, adding 150 jobs

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October 30, 2013 | Author: Wayne Heilman | Original Source


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Rehab center group building another facility in Colorado Springs, adding 150 jobs

A partnership headed by many of the same physicians and other investors who built an 80-bed rehabilitation center in northwest Colorado Springs is building a second facility in northern Colorado Springs that will open in late 2014 with about 150 employees.

The $17 million Center at Cordera, which will be built near Memorial Hospital North and St. Francis Medical Center, also will include 80 beds for short-term rehabilitation, said Monte Murdock, a principal in Colorado Springs-based Veritas Management Group, which operates the 6-year-old Center at Centennial.

“Demand at our existing facility is near capacity, and it is not infrequent that we have patients who cannot be admitted. There is a lack of these kinds of services available in northeast Colorado Springs close to the two major hospitals in the area,” Murdock said Tuesday.

The center is about 2 miles from Memorial Hospital North and 3 miles from St. Francis Medical Center and just north of the Bonaventure of Colorado Springs retirement complex, which will open next month.

Powers SNF LLC paid $980,000 to High Valley Land Co. Inc. for the 4.5-acre site at 9208 Grand Cordera Parkway and received a $12 million loan from ANB Bank to finance construction of the center.

The partnership includes Murdock, who is a local accountant, and Alex Senkoff, a Colorado Springs internal medicine physician.

The transaction was handled by Stan Kensinger and Jim DiBiase of Olive Real Estate Group.

Veritas will manage six other facilities under development in northern Colorado and two other states, Murdock said. Each of the centers has private rooms with bathrooms, dining room, therapy gym and other facilities in a hotel-like setting. They are staffed by an on-site doctor and are designed for sub-acute patients who have been recently discharged from a hospital but are not well enough to return home.

The centers accept Medicare and private pay patients as well as those using most insurance plans.

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