Iron Stone Real Estate Partners, a Philadelphia developer known for acquiring financially distressed health-care properties, has agreed to pay $65 million for the buildings and other property occupied by St. Christopher’s Hospital for Children, according to people with direct knowledge of the pending deal.
The sale of St. Christopher’s real estate, expected to close next month, will remove the North Philadelphia safety-net hospital from the legal chaos surrounding the bankruptcies last summer of St. Christopher’s and the now-closed Hahnemann University Hospital in Center City.