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Dreien Opportunity Fails to Close on Parkland Hospital

Less than a month ago, Dallas County commissioners approved the $83.3 million sale of the former Parkland Hospital campus to Dreien Opportunity Partners. However, the buyer was unable to complete the sale by the deadline date of April 17, 2018. Under rules of the contract, seller Parkland will retain the $3 million in earnest money, and is preparing to remarket the vacant hospital campus at Harry Hines Boulevard and Medical District Drive.

During early April, Sam Ware, who leads Dreien, asked for a 30-day extension to close the deal, as the lender needed more time to close $53 million in senior debt. The county commissioners denied an extension.

Ware told D magazine that he intends to rebid for the project. “That’s the only option here,” he said. “No one has the amount of information we’ve created at this project.”

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