Regions Northeast | New Jersey
Two Medical Colleges Snap Up Former Hospital in Westwood for $45M
May 14, 2008

Hackensack University Medical Center and Touro University College of Medicine have just completed the acquisition of the former site of Pascack Valley Hospital in Westwood, New Jersey, in a deal valued at $45 million. Pascack filed for bankruptcy last year, leaving the disposition of its assets in the hands of the U.S. Bankruptcy Court, which relied on Cushman & Wakefield's Metropolitan Area Capital Markets Group to help secure a buyer for the property. The 20-acre property is located in an affluent area of Westwood, about 25 miles north of Jersey City and New York City. HUMC and TouroMed plan to open a medical school at the former 251-bed acute care facility. .

 
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