PAWTUCKET – Care New England has a purchase and sale agreement with Lockwood Development Partners of New York for part of the Memorial Hospital campus, the nonprofit health care network disclosed in a quarterly investor call filing last week.
The agreement includes roughly 50% of the land on the site and “all but [its] ambulatory buildings.”
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CNE said that the use plan for Lockwood is to develop the site into a veterans wellness and residential facility. The plan would be subject to Veterans Administration approval and deed restrictions, the nonprofit disclosed.
The divestiture of the property was listed as one of its 2019/2020 priorities.
The company confirmed the existence of the deal but did not provide any other information, including the financial details of the transaction.
CNE said more information will be made available about the property next week.
