Cedars-Sinai Health System announced Tuesday that it acquired the 145-bed Marina del Rey Hospital and a neighboring medical office building. The terms of the deal were not disclosed, but county records show the hospital property traded for $25.3 million in mid-August.
The roughly 98,000-square-foot for-profit hospital, at 4650 Lincoln Blvd., will convert to nonprofit status and operate as an affiliate of Cedars health system. Its 660 employees will remain on staff and existing services will be maintained, according to Cedars-Sinai.
The hospital had been owned by a partnership led by L.A. private investment firm Westridge Capital, which bought the property in 2004 for $5 million as part of a portfolio sale, according to data from CoStar Group Inc.
Cedar-Sinai has been in expansion mode on the Westside. The hospital giant recently opened an urgent care and primary care center in Culver City and will open a similar facility in Playa Vista next year.