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Financial details emerge in Orlando Health’s purchase of Bayfront Health St. Petersburg

Margie Manning

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When Orlando Health bought Bayfront Health St. Petersburg, it got a lot more than just the largest hospital in the city.

The deal was a complex transaction that involved 14 separate deeds totaling $147 million. It made Orlando Health a significant property owner in St. Petersburg and Pinellas County.

The deeds – the legal documents that transfer ownership – were recorded in Pinellas County Thursday, one day after Orlando Health, a non-profit organization, closed on the purchase of Bayfront from for-profit Community Health Systems (NYSE: CYH).

Bayfront is the largest hospital in St. Petersburg, with 480 beds, and one of the largest employers, with 1,500 employees as of 2019.


Related: Bayfront’s president promises pay raises


The purchase price for the hospital has not been publicly disclosed, but the deeds give at least a partial picture of the deal.

The largest deed was for $86.28 million, for the 596,429-square-foot hospital at 701 6th Street South, on land the city owns and the hospital leases. The City Council earlier this year approved a 50-year lease with Orlando Health. The deed said Community Health will assign and Orlando Health will assume the hospital lease and other rights.

 

Here’s a breakdown of the other properties Orlando Health acquired.

Parking garage at 735 8th Ave. S., 218,957 square feet, $14.4 million

Parking garage at 501 6th St. S., 129,920 square feet, $6.7 million

Office building at 700 6th St. S., 55,222 square feet, $7.5 million

Medical office building at 744 6th Ave. S., 5,251 square feet, $5.7 million

Bayfront Health ER at 3070 Grand Ave., Pinellas Park, 13,299 square feet, $5.2 million

Three condo offices at 625 6th Ave. S. totaling $5.4 million

Industrial property at 750 5th Ave. S., 20,000 square feet, $6.3 million

Bayfront Child Development Center, a child care facility at 800 6th Ave. S., 9,862 square feet, $2 million

Bayfront Convenient Care Clinic at 1550 Pasadena Ave. S. in South Pasadena, 2,914 square feet, $827,471

Bayfront Convenient Care Clinic at 13162 66th St. in Largo, 3,344 square feet, $528,000

Orlando Health also acquired several parcels of vacant commercial land on 6th Avenue South for a total of $6.3 million.

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