Hoag Memorial Hospital Presbyterian has expansion in mind, at the site
of its Irvine campus.
Newport Beach-based Hoag, which opened its 154-bed
Hoag Hospital Irvine campus in 2010, has a deal in place to buy the Irvine property from its
Irvine-based landlord, Healthpeak Properties Inc.
The deal is for $226 million and is scheduled to close in about a year,
according to regulatory filings. It’ll be one of the larger property
acquisitions seen in Orange County in recent years, once complete.
The deal is not just about the existing property; the purchase price also
includes land adjacent to the hospital, according to Healthpeak.
The sale is expected to pave the way for additional expansion at the Irvine
facility, although details have yet to be confirmed by Hoag, which is
seeking to end its affiliation with a larger healthcare group, Renton,
Wash.-based Providence.
Visit the
Orange County Business Journal to view the original article.