Iron Stone Real Estate Partners in Philadelphia purchased Girard Medical Center and Goldman Clinic, also in Philadelphia, for $8.5 million during a bankruptcy auction in August. The properties previously belonged to North Philadelphia Health System, which filed for Chapter 11 bankruptcy in December 2016.
According to the sale agreement, Iron Stone officials said they intend to maintain the functions of both properties and will provide an additional $2.9 million to the city to lease the facilities for one year. NHS Human Services in Lafayette Hill, Pa., will provide health services at both sites.
However, attorneys for Iron Stone told a bankruptcy court judge Nov. 1 the leases “are not complete, but the parties are close,” according to the report.
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