The El Segundo, Calif.-based healthcare system, which expects to exit bankruptcy in the coming weeks and trim $330 million in debt in doing so, is assuming the lease of White Rock Medical Center owned by Global Medical REIT. The move adds to a recent transaction involving Pipeline assuming the lease of four Los Angeles hospitals and other regional locations.
Part of Pipeline’s agreement includes Global Medical investing $3.8 million in new capital projects at White Rock, approximately $3.1 million of which is expected to result in additional rent.
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