MaineGeneral's Seton campus sold for $500K
MaineGeneral Health CEO Chuck Hays announced a $500,000 purchase and sale agreement has been reached with Waterville Redevelopment Co. 1 LLC for the medical center's Seton Campus in Waterville.
The sale is expected to close by the end of July, Hays said in a press release, noting that it would ensure the property is back on city tax rolls for fiscal year 2014-2015. The sales agreement for Seton includes 80 acres of land. MaineGeneral will lease back the property from Waterville Redevelopment Co. until October 2014, paying operating costs through the end of the lease.
The buyer is affiliated with developer Kevin Mattson, who led an investment group that bought the hospital's East Chestnut Street building in Augusta for $2.5 million through a subsidiary of Mattson Development.
MaineGeneral has been undertaking a $322 million regional medical center construction project that includes the Alfond Center for Health, slated to open on Nov. 9, and renovations to the Thayer Center for Health that will begin in January 2014.
Earlier this week, MaineGeneral announced the consolidation of many business office functions at the Hathaway Creative Center.
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