[quote author="joeyp" date=1234499965]Hoag didn't buy Irvine Regional Hospital. Irvine Regional Hospital was owned by Tenet. Tenet decided to shut it down and move out of the building when their lease was up.
Hoag is going to lease in the same place, and after extensive renovations (1-2 years) open a new hospital with new staff, new equipment, etc. </blockquote>
I'm not sure what a building like that would cost, but isn't' it in Hoag's best interest to OWN the facility? How much money are they investing in this remodel? Who pays for it?
I guess commercial is very different than residential. I just know I would never invest my own money to remodel someone else' house!