BETHLEHEM TWP., Pa. -- Lehigh Valley Health Network has sold a medical building in Northampton County for $40.2 million, part of a sale/leaseback deal announced earlier.
The Centurion Foundation, based in Atlanta, bought the 2300-2310 Highland Ave., Bethlehem Township building as part of a plan to acquire eight LVHN buildings in the region for as much as $160 million. The hospital chain will lease them back from Centurion for 15 years.
LVHN's building at 2030 Highland Ave. is also part of the Centurion agreement, but Northampton County records did not show a sale as of Tuesday.
Other buildings included in the Centurion deal are in Monroe, Lehigh and Luzerne counties.
The Monroe County sites are 600 Commerce Blvd., Stroudsburg, and 179 Independence Road, East Stroudsburg. County property records do not indicate that a sale of either site has been completed.
In Lehigh County, Centurion acquired 2024 Lehigh St., Allentown for $16.9 million, while county records do not show a sale yet of 1628-1650 W. Chew St. in Allentown or 1040 Chestnut St. in Emmaus.
The sole Luzerne County building is at 26 Station Circle, Hazleton.
John Brodsky, senior vice president and treasurer of LVHN, told Northampton County Council in June that the hospital system will retain control of the buildings during the 15-year leases.
Centurion is a non-profit organization based in Atlanta that "helps other non-profits achieve their purpose by developing, arranging financing, and leasing facilities," according to its website.
Centurion did not respond in June to a 69 News email seeking information on the transactions. The organization planned to issue $160 million in tax-exempt bonds to finance the transaction, Brodsky told County Council in June.
LVHN is making a lot of big deals, with the biggest being its combination with Jefferson, a Philadelphia area hospital system. LVHN and Jefferson agreed in May to combine.
