5/14/2008

JV acquires former hospital site for $45M

by

Pascack Valley Hospital

A joint venture between Hackensack University Medical Center and Touro University College of Medicine has purchased a 20 acre former hospital site in Westwood, N.J., for $45 million.

The deal was brokered by Andrew Merin, Jose Cruz, David Bernhaut and Gary Gabriel of Cushman & Wakefield's Metropolitan Area Capital Markets Group.

The site is located at 250 Old Hook Rd. and is the former home of the Pascack Valley Hospital, a 251-bed acute care facility that filed for bankruptcy last fall. The deal was approved by the U.S. Bankruptcy Court, the body responsible for dispersing the hospital's assets.

Address: 250 Old Hook Rd., Westwood, N.J.

Size: 20 acres

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Filed Under: Office

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