Bardstown Medical Plaza

This off-campus ambulatory care center is 100% long-term leased by Baptist Health, a leading regional health system in Kentucky and Southern Indiana. The building location was strategically chosen to provide medical care to this underserved area of Bourbon Country, 35 minutes south of Louisville. Services at the facility include primary and family care, cardiology, imaging and lab services, ENT, foot and ankle care, orthopedics, physical therapy, pulmonary care, sports medicine, urology, neurology, and vascular surgery. The building was originally developed by Hardin Memorial Health, which has since been purchased by Baptist Health.

Remedy partnered with the developer to provide a majority of the equity capital for the development, locked in the developer’s upside via a forward commitment to purchase it upon completion, and assisted with the construction. This structure allowed the developer to maintain liquidity and de-risk its exit. Within three months of its opening in August 2018, the medical plaza was exceeding expectations, with a 64 percent increase in all medical imaging and 229 percent increase in 3D mammography.