Wednesday, September 7, 2011

Firm Represents Lender in Complex Commercial Finance Hospital Deal

Egan & Golden, LLP represented a private equity group in the complex structuring and financing of a multi-building hospital/medical complex on 3.479 acres located at 1930 South Broad Street in Philadelphia, Pennsylvania.The property, formerly the St. Agnes Continuing Care Center, will be converted to a mixed-use facility. Major tenants include CHOP, Thomas Jefferson Hospital, Kindred, and Mercy Health. Originally built in 1920 with restoration and new construction occurring in 1968 and 1984, the current facility houses over 404,847 sq. ft. of gross floor area. The complex consists of four interconnected building sections forming the medical center with an adjoining five-level parking garage and a one-story powerhouse building.