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The Boston Globe

Business

Boston Capital

Hospital chain aims to exit real estate business

Steward Health Care System, the for-profit medical organization that has purchased 10 Massachusetts hospitals in just over a year, plans to sell a number of its medical office buildings, lease the real estate back, and use the proceeds for its hospital operations.

Steward is offering to sell 11 buildings in Brighton, Dorchester, Foxborough, Fall River, Brockton, Taunton, Methuen, and Ayer - more than 350,000 square feet in all - it purchased as part of a series of hospital acquisitions. Nine of the office buildings are situated directly on Steward hospital campuses, and the other two are near hospitals.

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