Here’s what you should know:
1. The 15 acres Adventist purchased is adjacent to 67.24 acres Adventist purchased in 2016. The larger acreage is zoned as grazing land and remains structure free.
2. The health system has yet to elaborate on its plans for the land.
3. As a condition of the sale, Adventist can only build facilities up to 145,000 square feet on the most recent acquisition. The sale also restricts Adventist to building medical offices, an emergency department, an outpatient surgery center or a center for health and wellness services.
4. The deed also allows for several commercial retail development options.
More articles on transactions/valuations:
Desert Vein & Vascular Institute to open new center in 2018: 4 key notes
Surgery Partners repurchasing up to $50M in stock & more: 6 ASC company key notes
MemorialCare, RadNet joint venture on outpatient imaging networks: 5 key notes
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