SunLink Health Systems to Sell Georgia Property

The company expects to gain net proceeds of $2.4 million from the $4.9 million transaction.

by Evelina Croitoru

1362 S Main Street, Ellijay, Ga.
1362 S Main Street, Ellijay, Ga.

Atlanta—Atlanta-based SunLink Health Systems Inc., the parent company of subsidiaries that own and operate healthcare facilities in the Southeast, has announced that one of its subsidiaries has reached an agreement to sell a medical office building complex consisting of land and three buildings in Ellijay, Ga. The property traded for roughly $4.9 million and was acquired by an undisclosed buyer.

The transaction is subject to buyer due diligence and other conditions and is anticipated to be finalized in December 2016. After repayment of mortgage debt and expenses adding up to approximately $2.3 million, the company expects to gain net proceeds of roughly $2.6 million. The proceeds will be retained for working capital and general corporate purposes. In this way, the firm expects to achieve a pre-tax gain on the sale of approximately $2.4 million.

Located at 1362 S. Main St., the North Georgia Medial Center offers a variety of healthcare services, featuring 50 licensed beds, acute-care hospital, and a 100-bed skilled nursing facility.

Image courtesy of SunLink Health Systems Inc.