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Philadelphia Office

CABRINI TO CANCER CENTER

On the same topic, Memorial Sloan-Kettering Cancer Center affiliate SKI Realty just agreed to purchase the former Cabrini Medical Center at 217 E. 19th St. for $83M. Pending regulatory approval, MSKCC intends to convert the 455-bed hospital into an outpatient cancer center. Grubb & Ellis’ Vincent Carrega, Neil Helman, Frank Mancini, and David Arena spearheaded the disposition on behalf of Cabrini, while Newmark Knight Frank’s Mark Weiss repped MSKCC. The transaction has been approved by the US Bankruptcy Court (Cabrini ceased facility operations in ’08 and filed for bankruptcy protection in ’09) and is expected to close this year.

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