News:
Brokerage
Posted: August 8, 2008
CIT Group acts as excl. R.E. advisor for $44.9m healthcare facility sale
According to CIT Group Inc., a leading global commercial finance company, it served as the exclusive real estate advisor to Victory Memorial Hospital and its Official Committee of Unsecured Creditors in the sale of the hospital's main campus in Brooklyn, to Sunset LG Realty LLC for $44.9 million.
The sale, approved last week by the U.S. Bankruptcy Court, includes the hospital's main campus site and two operating businesses-Victory's 150-bed skilled nursing facility and its 400-patient home healthcare business. New ownership is arranging for the continued operation of both of these programs, the hospital's clinics and other medical services under new management.
The transaction, when completed, will be one of the first successful sales and restructurings of medical services at a hospital slated for closure by the Berger Commission.
Tags:
Brokerage
MORE FROM Brokerage
200E20TH sells out in Gramercy, penthouse A closes out sales at the CetraRuddy-designed condominium residences
Manhattan, NY 200E20TH, the CetraRuddy-designed architectural masterwork that brought a curved, contemporary sensibility to Gramercy’s Beaux-Arts streetscape, has
Quick Hits
 (2).gif)
Columns and Thought Leadership
Hunt CRE question and answer: Choosing a real estate agent - by David Hunt
First, we will only work with one agent exclusively. The primary reason is that we want that agent to legally represent our client’s interests. In New York State, a real estate agent has a fiduciary
New York’s streets are full again, and the retail numbers prove it - by Noam Aziz
Walk down any New York block this year and you can feel it. The sidewalks are crowded, the storefronts are lit, and the energy that defines this city is back at full volume.
Hunt commercial real estate question and answer: Fortune 500 wisdom - by David Hunt
Yes, there are lessons to be learned from the largest companies in America when comes to managing your real estate. But the decision to buy or lease real estate may not be one of
The art of investing in real estate - by Thomas Donovan
Real estate investing is as much an art as it is a skill. No one can time the market, or the factors that drive it, perfectly. Location, zoning, size, transportation, and neighborhood density give you a baseline for
.gif)