Hoag Memorial Hospital Presbyterian has purchased its Irvine hospital facility and adjacent land parcels for $226 million, according to regulatory filings.
It’s the largest reported real estate transaction in OC this year.
A deal for the property had been in the works for over a year. The sale’s completion was noted in a regulatory filing earlier this month, the Business Journal first reported in the June 14 print edition.
Hoag officials confirmed the transaction last week.
“In order to secure Hoag’s ability to serve the needs of the Irvine and Orange County communities today and into the future, Hoag acquired the hospital and adjacent land parcel from Healthpeak, a national healthcare real estate investment trust,” Sanford Smith, senior vice president of real estate and facilities at Hoag, said in a statement provided to the Business Journal.