West Tennessee Healthcare has sold eight properties – each located in Jackson – to Capital Partners Group for $25,866,711.

The transaction is a property sale and lease-back.

James Ross, CEO, West Tennessee Healthcare, issued the following statement –

“West Tennessee Healthcare entered into a transaction to sell some its office buildings with an agreement to lease them back for varying periods of time.

“The capital generated from the sale will improve the organization’s cash position and aid in funding more pressing needs for patient care equipment, as well as, hospital facilities and technology infrastructure in the near term.

“Buildings included in the sale were clinics and office buildings that the health systems intends to lease and continue to occupy for the foreseeable future.” – James E. Ross

The transactions –

West Tennessee Healthcare sold 33 Directors Row to Capital Partners Group for $1,050,675

West Tennessee Healthcare sold 805 North Parkway to Capital Partners Group for $6,483,600

West Tennessee Healthcare sold 8 Medical Center Drive to Capital Partners Group for $1,025,834

West Tennessee Healthcare sold 322 Hospital Drive to Capital Partners Group for $2,639,950

West Tennessee Healthcare sold 1804 U.S. Highway 45 Bypass to Capital Partners Group for $8,884,125

West Tennessee Healthcare sold 587 Skyline Drive to Capital Partners Group for $2,282,602

Jackson-Madison County General Hospital sold 72 Physicians Drive to Capital Partners Group for $876,725

West Tennessee Healthcare sold 32 Conrad Drive to Capital Partners Group for $2,623,200

(PHOTO: 1804 U.S. Highway 45 Bypass)