HAMMOND, LA-A healthcare operator and more than 30 localphysicians have acquired the Louisiana Hospital Center here for$12.5 million. GE Commercial Finance Business Property Corp. soldthe 61,000-square-foot facility, which consists of 42 beds, eightpre-op/recover bays, and three operating rooms.

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Developed in 2006 as a physician-owned hospital, the facilitynever opened. The ownership group, which consisted of localphysicians, Wichita, KS-based Cardiovascular Hospitals of Americaand other investors, filed bankruptcy two years ago, according tocourt documents.

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GE Commercial Finance purchased the property out of bankruptcylate last year and hired CBRE’s Healthcare Capital Markets Group inApril 2010 to market the property.

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“The property received significant activity from hospitals,surgery center operators and private capital sources,” says ChrisBodnar, vice president of CBRE’s Healthcare Capital MarketsGroup. “The buyer closed in 42 days after executing thepurchase and sale contract.”

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Located on Airport Road south of Interstate 12, LouisianaHospital Center was built on land owned by the Hammond AreaEconomic and Industrial Development District. The District helpedfund construction of the facility through $15 million in bondfinancing and tax incentives.

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