UCF to Buy 25 Acres of Land for Hospital
Posted by Super Admin on Monday, January 30th, 2012 at 6:47pm.Orlando Business Journal
1/26/12
The University of Central Florida board of trustees will vote Jan. 26 whether or not to buy 25 acres of Tavistock Group land for a hospital, clinic and research space.
According to documents, the closing date would be Jan. 30. According to the terms, UCF would:
• Pay $15.1 million for the land.
• Have rights to develop 253,000 square feet of hospital space.
• Have the right to develop 115,000 square feet of clinic space.
• Have the option to by an additional 13 plus acres until Jan. 16, 2017, at a cost of $600,000 per acre of market value.
• Either buy outright at closing or pay 50 percent at closing and have 50 percent be seller financed.
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