Search
 

AvalonBay To Buy University Medical Center at Princeton

PRINCETON, NJ-The deal also includes nearby homes, and will be the basis of a new residential community.

By Debra Hazel | Updated on August 03, 2011

PRINCETON, NJ-AvalonBay Communities has agreed to acquire the University Medical Center at Princeton building on Witherspoon Street here from the Princeton HealthCare System, as well as nine houses that PHCS owns on Harris Road.

The purchase price was not disclosed. PHCS is opening a replacement hospital in 2012, and the property has been rezoned, with approvals for up to 280 residential units and 79,000 square feet of retail and commercial space, according to published reports. That may not be precisely what is built, Ron Ladell, vice president of Arlington, VA-based AvalonBay Communities, tells GlobeSt.com.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.