September 13, 2017 Comments (0) Views: 397 Arizona, National News, Southwest

Banner Health Secures $550M Bond Financing for New Arizona Teaching Hospitals

Register for Connect Healthcare on November 8th at the Andaz Scottsdale Resort & Spa

Phoenix-based Banner Health secured $550 million in a revenue-bond issue to finance $325 million of the cost of a new 16-story patient tower now under construction at Banner University Medical Center Phoenix. Another $225 million in bonds will be used to construct and outfit a nine-story tower at Banner University Medical Center in Tucson (pictured).

Located at 11th Street and McDowell Road in Phoenix, the teaching hospital is planned to include 256 patient beds, a new emergency department and trauma center, operating rooms and lab space. The tower is expected to deliver by October 2018.

Banner is investing nearly $1 billion in clinics and new teaching-hospital towers in Tucson and Phoenix, which includes offices for managers and department leaders at the Tucson hospital tower. The county-approved revenue bonds will allow the health-care system to lower borrowing costs.

Read more at AZ Central

Connect With Banner Health

Get CRE News in 150 words

For comments, questions or concerns, please contact Dennis Kaiser

Share on FacebookTweet about this on TwitterShare on LinkedInEmail this to someone

Tags: ,

Comments are closed.