Healthcare buys Royal Park Hospital land

BUYER: Park Royal Fee Owner LLC, Franklin, Tenn.
SELLER: Lee Memorial Hospital Inc.
PROPERTY: 9051 and 9241 Park Royal Drive, Fort Myers
PRICE: $2.3 million
PREVIOUS PRICE: $3.76 million, February 1989 (includes additional land)
LAW FIRM ON DEED: Henderson Franklin Starnes & Holt PA, Fort Myers

PLANS, DESCRIPTION:
Acadia Healthcare Co. Inc. purchased 4.7 acres northwest of Summerlin Road from Lee Memorial Hospital Inc. for $2.3 million.

The price equated to $489,362 per acre.

The property houses the three-story, 72,000-square-foot Park Royal Hospital. Built in 2011, the inpatient psychiatric hospital can house a maximum of 114 beds. In late 2012, the hospital was purchased by its current owner/operator Acadia Healthcare for $33.4 million in cash and assumed debt.

“Lee Healthcare Resources leased the land to the Park Royal Hospital owner back before they began construction,” Mary Briggs, spokeswoman for Lee Memorial Health System, wrote in an email to the Business Observer. “The plan was always for the operator to buy the land when they could afford to do so. Apparently that day has come and the sales transaction was completed as originally intended.”