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Kim_Gatley
Kim Gatley
S
enior Vice President & Director of Research at REOC San Antonio

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New hospital expected at Forest Park Medical Center site

MOB_iconDespite the troubles two hospital companies encountered with their medical developments near Interstate 10 and Loop 1604, another such facility is expected to enter the area. This one would take relatively new space abandoned by Forest Park Medical Center San Antonio, 5510 Presidio Parkway, which closed its doors for good in October.

Interested parties have until Dec. 18 to submit offers for the Northwest Side property, said Scott Herbold, first vice president of CBRE Capital Markets, which is working under a tight deadline to sell the Forest Park Medical Center real estate.

“It would be a shock if this didn’t remain medical, if it didn’t remain a hospital,” Herbold told me. “We fully expect that this will be some form of acute-care hospital.”

There is plenty of interest in the asset.

“We are fielding calls from hospital operators in town and out of town,” Herbold said. “There are some pretty significant players, and we are encouraged by that.”

Herbold said the final price tag for the Northwest Side asset could hover around $100 million, if similar deals in the state are an indication. The plan is to get a deal closed by February.

Forest Park Medical Center was closed after its real estate entity, FPMC San Antonio Realty Partners LP, filed for Chapter 11 bankruptcy protection.

Click to read entire article: New hospital expected at Forest Park Medical Center site (San Antonio Business Journal, 12-11-15)

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