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In 2018, Holy Family Hospital’s Haverhill campus was sold to a real estate investment trust for about $124 million—a price tag well above the $14.8 million the city says it is worth. The financial freefall has been well-documented over the years even as it now appears to surprise state regulators. Birmingham, Alabama-based Medical Properties Trust bought the property along with other Steward Health Care-owned hospitals and related properties as part of a sell and leaseback deal that allowed, according to an announcement at the time, the then-Boston-based Steward to “to expand nationally.”
The exaggerated price tag struck many as odd, considering the City of Haverhill opened the campus in 1984 after building it for $30 million and then sold it to Essent Healthcare for $1.8 million in 2001. Essent, in turn, sold it to…
