Saratoga Hospital Acquires Two New Properties
SARATOGA — In the month of August, Saratoga Hospital has added two new properties to its ever-expanding portfolio.
The first transaction, which was settled on August 3, was the purchase of a corner lot off Exit 12 on I87. The property, located at 540 Route 67 in Malta encompasses just over 7 acres of land and was purchased for $1.75 million from Malta Real Estate Group LLC, according to Albany Business Review’s Robin Cooper, who was first to break the story. Importantly, the property is located close to Saratoga Hospital’s Malta Campus, which houses a variety of Saratoga Hospital Medical Group offices, the Saratoga Hospital Outpatient Infusion Center, a Regional Therapy Center, as well as Malta Med Emergent Care. Malta Med is a joint venture of Saratoga Hospital and Albany Medical Center and this purchase coincides with their previously announced plans for expansion in the area.
The second acquisition is a building that Saratoga Hospital had been leasing for quite some time. Located at 59 Myrtle St. in Saratoga, the building is a stone’s throw away from the hospital’s main campus. The location is home to Saratoga Hospital’s pulmonary and OB/GYN practices. While the hospital plans to keep the pulmonary practice at 59 Myrtle St., the OB/GYN practice will likely be moved to the Wilton Campus on Route 50. The hospital plans to renovate their new purchase in 2023, according to Jeff Methven, Executive VP of Saratoga Hospital.
