Gulf States Health Services in the US has sold the Dallas Long Term Care Hospital to real estate investment firm Healthcare Trust of America for $27m.
Healthcare Trust of America said it hopes healthcare reform will turn the hospital into a profitable institution.
Gulf States CEO Greg Walker said the 52,000ft², 60-bed hospital has been sold as it was struggling to make money from its main operations.
“It took a lot more capital than expected, and the properties didn’t turn profitable enough quickly enough,” Walker said.
Gulf States has sold nearly all of its 12 hospitals because of the credit market.