Health care conglomerate Universal Health Services Inc. has bought a 32.3-acre Palm Beach Gardens land expanse where it wants to build a hospital, paying $32.7 million.
Pennsylvania-based Universal Health, through affiliate Pasteur Healthcare Properties LLC, bought the land from Heights Biotech Investments LLC's affiliate Pasteur Commercial Investments LLC on Monday, according to a Palm Beach County deed.
The South Florida Business Journal, which first reported last month about Universal Health's project proposal, reported that the conglomerate wants to build a seven-story hospital with 270 beds and a four-story medical office building. There are to be 1,019 parking spots.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 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.
Lidia Dinkova
Lidia Dinkova covers South Florida real estate for the Daily Business Review. Contact her at [email protected] or 305-347-6665. On Twitter @LidiaDinkova.
