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Tenet Healthcare Sells Two Philadelphia Hospitals

Paladin Pays $170M in Portfolio Purchase
January 23, 2018
Tenet Healthcare sold two of its Philadelphia-area hospitals to Paladin Healthcare for $170 million, or approximately $77 per square foot.

The deal totals 2.2 million square feet including the Hahnemann University Hospital at 224-248 N. Broad St. and St. Christopher's Hospital for Children at 160 W. Erie Ave.

Hahnemann University Hospital was constructed in 1973 and contains 496 beds. St Christopher’s was built in 1875 is a children’s hospital with 189 beds.

There were no brokers named in this deal, which reportedly included business value above the real estate, and also marks Tenet's exit from the Philadelphia market.

Please see CoStar COMPS #4108637 for additional information on this transaction.
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