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March 10, 2016 Comments Off on San Antonio Hospital Sells in Auction for $58M Views: 288 Acute Care Facilities, California News, Healthcare News, National News, Southwest, Texas

San Antonio Hospital Sells in Auction for $58M

TCB/Marina del Sol bought Forest Park Medical Center of San Antonio in a foreclosure auction. The buyer’s winning bid of $58.2 million was about $10 million less than Forest Park’s real estate owner Texas Capital Bank (TCB), and $30 million less than its appraised value of $94 million.

In addition to the 54-bed hospital at 5510 Presidio Pkwy., the property included a medical office building and garage.

The hospital was closed down in October of last year, following a notice of foreclosure. At that time, FPMC San Antonio Realty Partners LP, which owned the real estate, filed bankruptcy to avoid being sold.

Forest Park Medical Center was a high-end, physician-owned concept, with locations in the Dallas-Fort Worth area, as well as San Antonio. Each of the facilities has filed for Chapter 11 bankruptcy protection.

Read More at Dhealthcare Daily

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