By Staff report
Apr 19,
2018, 1:55pm
The
Parkland Memorial Hospital campus is heading back to the market after its buyer
missed a purchase deadline.
Developer Sam Ware’s company Dreien Opportunity Partners
received approval from Dallas County Commissioners last month to purchase the
property in an $83 million deal. The Dallas Business Journal
reported at the time that Ware planned to redevelop Parkland
into an $250 million amenity-rich destination called The District.
However,
Dreien “was not able to complete and close the necessary financing within the
time frame required under the purchase agreement,” Parkland senior vice
president Michael Malaise said in a prepared
statement to the Dallas Morning News.
The
deadline for closing the purchase was April 17. Parkland plans to retain $3
million in earnest money and remarked the property, Malaise added.
Ware
told the Morning News that he and his lender requested an additional 30 days to
complete the transaction, but Parkland officials denied the extension.
Still,
he remains undeterred and plans to submit another offer for the property.
“Hopefully
we will get back in first place to buy it and get it closed," he told the
DMN. "We just need additional time."
Ware is
among “other potential purchasers” interested in the property, according to
Malaise.
The
developer has had his eyes on the Parkland property for some time. He first discussed The District
with the Business Journal last year, calling the property a “once in
a lifetime” opportunity.
"You
could not replicate this today for under $500 million," Ware said of the
campus.
Get a
sense of his plans for the property in the slideshow above.
No comments:
Post a Comment