Business

University of Pittsburgh sells hospital property to UPMC for $17.5M

By Tim Schooley – Reporter, Pittsburgh Business Times

Pitt The Cathedral of Learning at the University of Pittsburgh

By Tim Schooley – Reporter, Pittsburgh Business Times

PITTSBURGH — The University of Pittsburgh and UPMC have opted to transact a long-leased property that’s part of the UPMC Presbyterian hospital complex in Oakland.

The long-agreed-to sale was for a wing of the hospital complex on DeSoto Street. The university sold the property to UPMC Presbyterian Shadyside for $17.5 million.

Kevin Zwick, a spokesman for the University of Pittsburgh, said the university’s Property and Facilities Committee approved the sale last June, adding that Pitt had owned and leased that portion of the hospital since 1990, and has been leasing it to UPMC for all this time.

Read more from our news partners at the Pittsburgh Business Times.

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