Jun 1, 2016
HCA purchases Forest Park Medical Center in Dallas
DALLAS - The flagship Dallas hospital of bankrupt Forest Park Medical Center has been sold to HCA North Texas for $135 million.Irving-based HCA announced the purchase of the high-profile 190,000-sf...
DALLAS – The flagship Dallas hospital of bankrupt Forest Park Medical Center has been sold to HCA North Texas for $135 million.
Irving-based HCA announced the purchase of the high-profile 190,000-sf hospital with 84 beds.
Forest Park Medical Centers was a chain of five doctor-owned, high-end hospitals in North Texas before FPMC Realty Partners filed for bankruptcy for its Frisco hospital in September.
The outstanding balance on the Dallas mortgage loan before was $110 million before interest, with $14.6 million in interest and fees, according to Sabra Health Care REIT Inc., the lender for FPMC Realty Partners.
The sale will generate a 10.4 percent return for Sabra.
Once the sale is finalized, Sabra will have received $325.5 million for the Dallas, Fort Worth and Frisco locations.
Since the fall, several health care providers, including HCA, have been acquiring the facilities:
- In February, HCA agreed to buy 54-bed Forest Park Medical Center in Frisco for $96.25 million. It is now open as Medical City Frisco.
- Bankruptcy court approved Methodist Health System’s purchase of Forest Park Medical Center in Southlake earlier in May. The facility has now been renamed Methodist Southlake Hospital.
- Arlington-based Texas Health Resources bought Forest Park Medical Center in Fort Worth for $116.5 million.
- A Texas Bank Capital affiliate purchased the San Antonio facility at an auction in March for $58.2 million.
The two Forest Park Medical Center purchases will allow HCA to expand its presence in North Texas.
HCA currently operates 16 hospitals, six freestanding emergency rooms and more than 50 ambulatory sites in the Dallas-Fort Worth and Oklahoma areas.
HCA is expected to close this deal in mid to late June 2016.
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