Healthcare: Steward Health Care System confirms sale-lease-back of medical buildings

By Charles Winokoor for Taunton Gazette

Taunton — Steward Health Care System, the for-profit medical group that owns Taunton’s Morton Hospital and Saint Anne’s Hospital in Fall River, has sold off a portfolio consisting of 13 medical office buildings worth approximately $100 million.

Steward spokesman Chris Murphy confirmed Tuesday that the lease-back agreement with Arizona-based Healthcare Trust of America includes Taunton’s Northwoods Medical Center at 2007 Bay St., as well as a Saint Anne’s-affiliated building.

Murphy last November told the Taunton Daily Gazette the sale-lease-back of Northwoods was intended to raise capital for making improvements in the 10 hospitals the Boston-based business has purchased during the past two years.

“All proceeds from the sale are going to be re-invested into improvements,” he reiterated on Tuesday.

Murphy said the announcement of the sale having gone through at the end of March didn’t generate immediate media attention, because it was only posted as an online press release by Business Wire.

A spokeswoman for Heathcare Trust, when contacted by phone to identify the address of the Fall River building, said the real-estate investment firm doesn’t comment on press releases.

Healthcare Trust was formed in 2006 and, according to its website, has accumulated an acquisition portfolio of $2.5 billion.

Steward Health Care Systems is owned by private equity firm Cerberus Capital Management of Manhattan.

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