Court-Ordered Auction – Acute Care Hospital, Rural Health Clinic, Licensure & Ancillary Properties
Tranzon Asset Advisors has been appointed by the U.S. Bankruptcy Court to manage and conduct an auction of the Pineville Community Hospital, Rural Health Clinic and ancillary properties and fixtures/equipment. The Hospital is an operating and licensed 120 bed acute care hospital, 108 acute care and 12 geriatric Psychtric with Kentucky swing bed contract and 30 skilled nursing beds. In addition to the hospital, bidders will have the opportunity to bid on the Rural Health Clinic and all personal property as well as all transferable licenses and Certificates of Need.
This auction process that has been sanctioned by the U.S. Bankruptcy Court-London Division will be conducted by Sealed Bid with the possibility of a second round of bidding through private negotiations or online auction. Bids deemed acceptable by the Trustee are subject to Court approval. All property will be sold free and clear of any liens and encumbrances, the buyer(s) will not be responsible for any back taxes or other previous indebtedness. Bid forms are available in this information package or may be obtained from Tranzon upon request. Bidder(s) may bid on one or more Lots to specifically tailor the grouping of assets that they desire.
An example of a common grouping or combination bid would be where a buyer desires to purchase the physical hospital facility, along with the necessary licenses and certificates of need and the fixtures and equipment (personal property) related to the hospital. In this illustration the bidder would need to enter a bid on Lots 2, 6 & 7 in their sealed bid.
Those offered Lots are described as follows:
Lot 1 – Entirety Offering of all Subsequent Lots
3-Story 143,539 ± SF Licensed and Operating 120 Bed Acute Care Hospital, 108 acute care and 12 geriatric psychatric
Hospital includes 30 skilled nursing-long term beds
Hospital includes Emergency Room, Intensive Care Unit, Radiology, Operating Room, Physical and Occupational Therapy Suites, Pharmacy and more
Separate and Free Standing Medical Office Building with Parking
In addition to the Real Estate, the successful bidder will be purchasing:
All necessary Certificates of Need and Licensure in place. Certificates of Need and Licensure may be separately available
All medical equipment, Furniture, Fixtures & Equipment, and Personal Property as currently located at the hospital or Medical Office Building
All computer systems
All Business and Patient Records
Single Family Residence – 111 Valley Road – Pineville, Kentucky
Single Family Residence – 115 Valley Road – Pineville, Kentucky (Currently Rented)
Prime U.S. 25E Frontage Commercial Building Site
Lot 2 - Hospital Facility and three Parking Lots – Real Estate Only
This Lot consists of the real property of the Pineville Community Hospital, located at 850 Riverview Avenue, Pineville, Bell County, KY 40977 with all current and utilized fee and leased parking areas situated on 8.76+/- acres encompassing approximately 143,539+/- total sq.ft. of improvements. The improvements are an attractive brick and stone three-story facility with Administration, ER, OR, PT, Dietary, secure Psychiatric, Radiology, Laboratory and other areas commonly found in acute care hospitals. This Lot does not include any personal property, furniture, fixtures and equipment additionally there are no certificates of need (CON) or licensure included in this Lot. THIS OFFERING IS THE REAL ESTATE AND IMPROVEMENTS ONLY.
Lot 3 - Single Family Residence – 111 Valley Road
This Lot focuses on this conveniently located and attractive single family residence in Pineville. This 2,300± sf house includes 3 bedrooms, 2 bathrooms, a basement, fireplace, attractive yard and attached garage. It was purchased by the hospital for expansion room and should be considered in any combination bids for the hospital. Close to all the amenities a homeowner or landlord would desire.
Lot 4 - Single Family Residence – 115 Valley Road
This Pineville residence is currently rented on a month to month basis for $450/month. Great for the real estate investor or owner occupant. This 3 Bedroom, 1 Bathroom residence is great for a young family just starting out or downsizing from a larger home. There is 1,028± sf of living space available with this property. Close to all the amenities you would need. The house was purchased by the hospital for expansion room and should be considered in any combination bids for the hospital.
Lot 5 - Rural Health Clinic and Parking Lot – Real Estate Only
This Lot provides a bidder the unique opportunity to bid on a well maintained 28,466± sf commercial office building with adjacent and secondary parking lots, overhead drive thru patient drop-off, ground floor pharmacy, elevator, office space for up to 8 physician offices, a dental office currently leasing, physical therapy