Harrison Street, pursuing its P3 infrastructure strategy, today announced it has monetized the ground lease of the Jack D. Weiler Hospital in The Bronx, NY from Yeshiva University for a 49-year term. The hospital is fully contracted to Montefiore Medical Center under an existing 99-year lease. The management and operations of the hospital will not change.
The 421-bed Jack D. Weiler Hospital is an academic medical center that serves as the primary teaching hospital for the Albert Einstein College of Medicine. One of the busiest designated Level II trauma centers in New York City, the hospital provides critical emergency services, obstetrics, gynecology, oncology and cardiology to the third most densely populated county in the country.
Christopher Merrill, Harrison Street’s CEO, said, “We are dedicated to working with Yeshiva and Montefiore to ensure it remains a world-class facility and look forward to help driving positive outcomes for residents and patients.”
Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism.
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