BAYONNE, NJ-Bayonne Medical Center has sold for $58 million to Medical Properties Trust in a sale-leaseback arrangement. The six-story, 278-bed acute care hospital at 29th Street and Avenue E has been leased by operator IJKG Opco for 15 years, with six five-year extension options. IJKG acquired the troubled medical center out of bankruptcy in 2008. It since has engaged in a lawsuit against Horizon Blue Cross Blue Shield of New Jersey.
In a separate deal, Medical Properties Trust acquired the real estate of the 60-bed Atrium Medical Center at Corinth in the Dallas area for $23.5 million.
“We have committed more than $175 million in investments so far in 2011, and approximately $380 million since our April 2010 refinancing transactions," says Edward K. Aldag, Jr., chairman, president and CEO of Birmingham, AL-based Medical Properties Trust.
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