Good Shepherd herds $69 million for Marshall MOBs

MARSHALL, HARRISON COUNTY – Good Shepherd Health System has sold nine medical offices and other buildings in a $68.5 million deal.

Properties included in the sale:

•  2101 W. Loop 281 (a Good Shepherd Medical Associates office building)
•  409 N. Sixth St. (was Longview Orthopedic Clinic before it moved to the Northpark Medical Plaza)
•  701 N. Sixth St. (Good Shepherd Occupational Medicine Building)
•  701 and 703 E. Marshall Ave., Good Shepherd Medical Plaza I, II and III
•  3133 Good Shepherd Way (off Hawkins Pkwy.), Institute for Healthy Living
•  621 N. Fourth St. (Customer Service Center)
•  304 University Dr. (medical office building)

The buyer, Griffin-American Healthcare REIT III, is based in California. Good Shepherd will continue operating the institute and other facilities included in the purchase.

“The sale helps GSHS improve its cash resources and improves its credit position,” said Good Shepherd CEO Steve Altmiller. “The sale of these properties greatly improves GSHS’ cash reserves and overall liquidity.

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