Hoag Hospital wins battle for Ziggurat in $207M deal
Hoag Memorial Hospital Presbyterian acquired Orange County’s iconic Ziggurat property, capping off a yearslong pursuit that positions the nonprofit health system to reshape one of the county’s largest redevelopment sites. Hoag, acting through the affiliate Laguna Ridge Health Care Development LLC, paid $207 million for the 89-acre former Chet Holifield Federal Building campus at 24000 Avila Road in Laguna Niguel, the Orange County Business Journal reported. The acquisition wraps up a winding sales process for the 1-million-square-foot former federal office complex. Hoag lost last year’s online federal auction to a joint venture led by Pintar Investment Company and Hilco Development […]This article originally appeared on The Real Deal. Click here to read the full story.
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