The Herald, Sharon, Pa.

Business

April 24, 2014

Large real estate deals recorded

MERCER COUNTY — Large separate real estate transfers were recorded recently in Mercer County.

A $20.221 million transfer was recorded from Sharon Regional Health System to Sharon Pennsylvania Hospital Co. LLC. The transfer reflects the price Community Health Systems Inc. paid for the buildings and properties of Sharon Regional in the county.

The total sales price was $70 million, which included all of Sharon Regional’s assets that, in addition to buildings and land, also involved its medical equipment, furniture, supplies and other tangibles.

Also under the deal completed April 2, Franklin, Tenn.-based  Community Health Systems agreed to pump $75 million into Sharon Regional over the next five years. Sharon Regional continues to operate under its old name but is no longer a nonprofit. Community Health is a for-profit business.

Two real estate transactions involving the Springfield Commons retail and motel development for Springfield Township were also recorded.

Franklin Real Franklin Real Estate Development LLC sold 10 lots in the development to Springfield Investment group for $2.350 million.

A plaza with a hotel is planned for the area near Premium Outlets at Grove City, which is in Springfield Township.

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